Home >> Dictionary Of Banking >> Guardians Of The Poor to Or Mandate >> Intestacy Intestate

Intestacy Intestate

real, estate, personal and widow

INTESTACY. INTESTATE. Where a person has died without making a will, it is known as an intestacy, and he is referred to as having died intestate. In order that the affairs of the deceased may be wound up, letters of administration require to be obtained from the Probate Registry, or Somerset house, ouse, by some person who is entitled to act as administrator.

By the Intestate Estates Act, 1890, it is provided that the real and personal estate of every man who shall die intestate after September 1, 1890, leaving a widow but no issue, shall, in all cases where the net value of such real and personal estate shall not exceed 1500, belong to the widow absolutely. Where the net value exceeds 1500, the widow is entitled to a first charge of 500 upon the whole estate, real or personal, the amount being paid out of the estate in proportion to the values of the real and personal estates respectively. This right is in addition to her share in the residue of the estate. Upon an intestacy, a widow is entitled in the case of real property (which does not include leaseholds) to " dower," that is, a life interest in one-third of the property, unless there is a declaration against dower in the deed of conveyance to the husband. In the case of copyhuld property, the widow's life interest is called " freebench " and varies with different manors. The following ex ample is given in " Wills " by J. A. Slater :

" A man leaves real property worth El ,000 and personal property worth 1-1,000. If he has died intestate, and has left a widow and no issue, the widow is entitled first of all to one-fifth of which, namely, '11 0, comes out of the real estate, and four-fifths, namely, Z-100, out of the personal estate. She is then entitled to her dower, unless it has been barred, out of the remaining 1900 of real estate, and to one-half of the remain ing 0,600 of the personal estate. She thus receives I2,300 absolutely, and enjoys the interest arising out of 000 orth of the real property for her life. If the: e is issue. she takes only one-third of the and dower, or a life interest, in one-third of the ,000." Where title deeds are lodged as security by a person who has succeeded to the pro perty, the purchaser in the last conveyance having died intestate, the banker should ascertain if the land is charged with dower, or freebench, in the case of a widow ; and in the case of a widower with " curtesy," that is, a husband's right for life to the rents of the whole of his deceased's wife's real estate, if she died intestate, provided that the deceased wife had a child by the husband and such child was capable of inheriting.