1 Rand. 313 | Va. | 1823
February 17.
delivered the opinion of the court.
The first question which presents itself in this case, admitting that all necessary parties are before the court, is, whether the interest intended by the will of Benjamin Taliaferro for bis two sons, Richard Henry, and Henry Taliaferr o, were vested and continuing interests, at the time of their deaths.
This question presents no difficulty. It is clearly a vested interest, unless a different result be produced by the testator having left the time of selling, to the discretion of the executor. In every instance of a sale by an executor, some time must, of necessity, elapse between the death of the testator, and the sale; and something is almost invariably left to the discretion of the executor, as to the time of selling. Yet that makes no difference where, as in this case, the direction to sell is imperative. It has never been doubted, that the devisee or legatee,.for whose benefit a sale is thus directed, takes by the will, ars
The interests, therefore, intended for the children of the said Benjamin Taliaferro, vested at his death ; and there ' being nothing in the will to defeat them, they were continuing interests at the deaths of the children.
It becomes important to enquire, in the next place, what was the nature and character of those interests.
It is an established principle, “ that money directed to “ be employed in the purchase of land, and laud directed “ to be sold, and turned into money, are to be considered “ as that species of property into which they are directed “ to be converted.” The English reporters abound with cases upon this subject; and there is no part of the law more firmly established, or better understood. The important question in such cases is, whether the character of land or money is definitively and imperatively affixed, by the will, to the property ; for, the character thus impressed upon it, will remain so impressed, until some person having a right to elect, elects to take it in its original character. Ashby vs. Palmer.
If there were no persons other than the present parties, who might claim an interest in this controversy, the court, pursuing the principles above declared, would affirm the decree of the chancellor.
But, it appears that after the death of the two sons of the testator, Benjamin Taliaferro, their mother, to whom the property in controversy had passed at the death of the survivor of them, as his next of kin, intermarried with Larkin Smith; and that the said Smith and his wife instituted this suit, as the only persons interested in the sale of the land, claiming, by their bill, to discharge the executor from the necessity of selling, and electing to take the land itself. If this election had any operation in fa
Judge Brooke did not sit in this cause.
1 Merivale, 296. 2 Maddock, 108,9, 10; and the cases there cited.
2 Vesey, 170.
8 Ves. 227.
12 Ves. 161.
13 Ves. 338.
1 Merivale, 296.