§668-12  Estates for life and years, and contingent estates.  If an estate for life or years is found to exist as to any part of the property or if any estate in dower or by curtesy exists with respect thereto, and the person interested has been served, the estate shall after partition relate only to the share set apart in partition and corresponding in severalty to the undivided interest theretofore subject thereto; and likewise as to any estate or interest dependent upon any contingency or executory provision, or inchoate right of dower.  If the property is sold, the proceeds of sale of the share or interest theretofore subject thereto shall be subject to the same estate in lieu of the property sold.  If the parties interested in any fund subject to any estate for life or years or any estate in dower or by curtesy do not agree upon a sum in gross to be paid and accepted as the equivalent thereof, the court shall direct the fund to be invested and the income thereof paid and the corpus eventually transferred to the parties entitled thereto, as they shall respectively be or become entitled.  If any such fund represents the proceeds of sale of any share theretofore subject to any contingent estate or right therein or to any executory provision, or inchoate right of dower, the fund involved shall be held by the court or suitably placed in trust and invested upon the same terms and conditions as to the vesting or enjoyment thereof as before existed with respect to the share or interest sold. [L 1923, c 178, §12; RL 1925, §2772; am L 1929, c 83, §1; RL 1935, §4751; RL 1945, §12461; RL 1955, §337-12; HRS §668-12; am L 1972, c 90, §11(n)]

Case Notes

  See 35 H. 262 (1939); 35 H. 349 (1940).