Appeal of Reed

Citations

• 118 Pa. 215
• 11 A. 787
• 1888 Pa. LEXIS 384

Syllabus

<p>A testator provided that Ms executors should keep the proceeds of land sold invested at interest and pay over to each of his nine grandchildren one ninth of the interest thereof annually, “ or if any of them have died, leaving heirs, then pay the same to said heirs, and at the full expiration of twelve years from the time of my decease, shall in like manner pay over the principal; but neither interest nor principal shall ’ be liable to attachment ” : Held,</p> <p>1. That the legacies to the grandchildren were substantive gifts, with time of payment postponed, but certain and unconditioned, and therefore yested at the death of the testator.</p> <p>2. WMle it is true, as a general rule, that where the time or other condition is annexed to the substance of the gift and not merely to the payment, the legacy is contingent, yet, as an exception, when interest, whether by way of maintenance or otherwise, is given while the enjoyment of the gift of the principal is postponed, the legacy will vest immediately.</p>