136 Pa. 374 | Pennsylvania Orphans' Court, Philadelphia County | 1890
Opinion,
The act of February 24,1834, § 51, P. L. 83, provides, that “ legacies, if no time be limited for the payment thereof, shall in all eases be deemed to be due and payable at the expiration of one year from the death of the testator.” As interest only
This was the state of the authorities when the point came before this court, and the distinction intimated by Lord Eldon was repudiated. In Eyre v. Golding, 5 Binn. 472, the gift was to R. of “ the interest of ¿6400, to be paid her annually during her natural life.” Chief Justice Tilghman held that interest ivas payable from the date of testator’s death, saying : “ The devise is not of a gross sum, but in the nature of an annuity.....The first payment of the annuity must be made
Hilyard’s Estate was decided after full review of the English chancery authorities, and has been considered as settling the law. It was followed in Spangler’s Est., 9 W. & S. 135, where Gibson, C. J., says: “ Where the corpus of the legacy is interest accruing on a residue after payment of debts, and not the residue itself, it is well settled that unless a contrary intent is collectible from the tenor of the will, the legatee is entitled to all that is made from the death of the testator.” And in Pennsylvania Co.’s App., 41 Leg. Int. 26, the auditor held that there was no difference between income and annuity, and this court affirmed the decision in a per curiam opinion, although in this case, as in Hilyard’s Estate, there were expressions in the will which might afford ground for argument that the testator’s actual intent was to postpone the commencement of the interést for a period after his death.
These cases are authoritative on the present contention. But even if they were less so, they should be followed as consonant to sound reason. There is no substantial difference in
Decree affirmed at the cost of the appellants.