Chap. 343.—An ACT to amend the Code of Virginia by adding thereto a new
section to be numbered section 5133-a, which new scction relates to the com-
mutation of certain life estates. [H B 249]

Approved March 24, 1926.

. 1. Be it enacted by the general assembly of Virginia, That the
Code of Virginia, be amended by adding thereto a new section to be
numbered fifty-one hundred and thirty-three-a, on the subject of the
commutation of certain life estates, which new section shall read as
follows:

Section 5133-a. Commutation of certain life estates—Whenever
a party as tenant for life, or by the curtesy, or in dower, or in any other
manner, has a life interest in an estate which has been sold under a
suit for partition or has been reduced to money, stocks, bonds or
notes, susceptible of division and where the total cost of holding said
money, stocks, bonds or notes intact amounts to more than five per
centum of the gross annual income, and when the party owning such
life estate ‘is willing to accept a lump sum in lieu of such annual in-
come, upon the application of such person entitled to such annual
income to any court of record having general chancery jurisdiction
and having jurisdiction over the subject-matter, the court may, in
the discretion of the court, decree that such party or parties having
charge of such money, stocks, bonds or notes, shall pay to the said
party having the right to receive such annual income, a lump sum in
accordance with section fifty-one hundred and thirty-one of the Code
of Virginia. This section shall not affect any spendthrift trust, here-
tofore or hereafter created.