When more than two parties as joint tenants for life, or three or more parties as tenants in successive estates, are entitled to the annual interest on a sum of money, or are entitled to the use of any estate, or a part thereof, and are willing to accept a gross sum in lieu thereof, or the party liable for such interest, or affected by such claim, has the right to pay a gross sum in lieu thereof, or if the court in any legal proceeding orders a gross sum to be paid in lieu thereof, the sum shall be estimated according to the then value of an annuity of eight percent on the principal sum during the probable lives of such persons. Probable lives shall be computed from the Makehamized mortality table for total population in the United States, 1969-1971, published by the Bureau of the Census of the Department of Commerce.
aXAxAxxAxxxAxxxxCx
b012.06011.67011.30510.9581.000
c112.29112.12411.97311.8321.147
d212.29112.12711.97911.8431.315
e312.28612.12011.97111.8341.508
f412.27812.10711.95611.8161.730
g512.26712.09111.93411.7911.984
h612.25612.07111.90911.7602.275
i712.24212.04911.87911.7242.609
j812.22712.02411.84611.6842.992
k912.21111.99611.80911.6383.431
l1012.19211.96511.76611.5873.935
m1112.17111.93011.72011.5294.512
n1212.14911.89211.66811.4665.175
o1312.12511.85211.61511.4015.935
p1412.10211.81211.56211.3366.806
q1512.07811.77311.51011.2747.805
r1612.05511.73611.46211.2158.951
s1712.03211.70111.41611.16210.265
t1812.01011.66611.37311.11111.772
u1911.98811.63211.33011.06213.501
v2011.96411.59611.28611.01115.483
w2111.93911.55911.24010.95917.756
x2211.91311.52111.19310.90520.362
y2311.88611.48011.14410.85023.352
z2411.85711.43711.09110.78926.780
aa2511.82411.38911.03210.72330.712
ab2611.78911.33610.96810.64935.221
ac2711.75111.27810.89610.56740.392
ad2811.70911.21510.81810.47846.321
ae2911.66411.14810.73410.38253.122
af3011.61511.07510.64510.27960.921
ag3111.56410.99810.55010.17169.865
ah3211.51010.91710.45010.05680.122
ai3311.45210.83110.3449.93691.885
aj3411.39110.74110.2339.809105.375
ak3511.32610.64510.1179.677120.845
al3611.25810.5459.9959.539138.586
am3711.18610.4409.8689.396158.932
an3811.11010.3319.7359.247182.266
ao3911.03110.2179.5999.094209.024
ap4010.94810.0989.4578.936239.712
aq4110.8619.9759.3118.773274.904
ar4210.7709.8479.1598.605315.263
as4310.6759.7149.0028.432361.548
at4410.5769.5768.8418.256414.627
au4510.4739.4348.6778.076475.500
av4610.3659.2888.5087.893545.309
aw4710.2549.1388.3367.707625.367
ax4810.1388.9838.1607.517717.178
ay4910.0188.8247.9797.234822.468
az509.8938.6617.7967.129943.217
ba519.7648.4937.6086.9301081.692
bb529.6318.3227.4186.7301240.497
bc539.4938.1477.2266.5291422.617
bd549.3527.9707.0336.3281631.475
be559.2077.7906.8386.1271870.995
bf569.0577.6086.6435.9272145.679
bg578.9047.4236.4475.7272460.691
bh588.7477.2376.2505.5292821.950
bi598.5867.0486.0535.3313236.246
bj608.4216.8565.8555.1333711.365
bk618.2526.6625.6564.9364256.238
bl628.0786.4665.4574.7404881.105
bm637.9006.2675.2574.5445597.710
bn647.7186.0675.0564.3496419.521
bo657.5325.8654.8574.1577361.984
bp667.3435.6634.6593.9678442.811
bq677.1505.4604.4623.7809682.318
br686.9545.2564.2663.59611103.798
bs696.7555.0524.0723.41412733.969
bt706.5524.8473.8793.23414603.468
bu716.3454.6403.6853.05516747.432
bv726.1344.4313.4902.87519206.157
bw735.9204.2223.2962.69722025.851
bx745.7054.0153.1062.52325259.510
by755.4913.8122.9222.35628967.909
ba765.2793.6152.7452.19733220.746
ca775.0693.4242.5772.04738097.950
cb784.8613.2392.4151.90543691.186
cc794.6543.0572.2581.76850105.577
cd804.4482.8792.1061.63657461.677
ce814.2442.7061.9591.50965897.740
cf824.0442.5381.8181.38975572.319
cg833.8462.3761.6841.27686667.243
ch843.6522.2171.5541.16699391.034
ci853.4592.0611.4251.058113982.830
cj863.2721.9111.3020.955130716.878
ck873.0971.7741.1920.863149907.684
cl882.9341.6511.0950.784171915.931
cm892.7801.5371.0070.713197155.252
cn902.6301.4260.9220.645226100.009
co912.4851.3190.8390.579259294.204
cp922.3501.2200.7630.519297361.704
cq932.2271.1310.6950.465341017.971
cr942.1181.0530.6360.419391083.501
cs952.0240.9860.5860.380448499.252
ct961.9430.9310.5460.349514344.324
cu971.8730.8850.5120.324589856.243
cv981.8110.8450.4840.302676454.218
cw991.7540.8100.4590.284775765.815
cx1001.7010.7790.4370.268889657.545
cy1011.6510.7510.4170.2541020269.949
cz1021.6020.7260.4000.2411170057.821
da1031.5500.7030.3850.2301341836.349
db1041.4920.6820.3720.2211538834.028
dc1051.4200.6610.3590.2121764753.329
dd1061.3220.6370.3480.2052023840.295
de1071.1780.6020.3350.1972320964.336
df1080.9550.5350.3120.1882661709.752
dg1090.5950.3830.2460.1583052480.684
Example: Three persons, ages 30, 40, and 45, are joint tenants for life in the whole of an estate worth $10,500: the equivalent equal age, w, of these three persons is given by the following formula:
a
C30 + C40 + C45
bCw=---------------------=258.711 where
c
3
C30, C40, and C45 are found in column 6 of the above table.
A linear interpolation between x = 40 and x = 41 in the above table would yield the value of x = 40.540, which would be the equivalent equal age of the persons involved.
Finally, a linear interpolation between x = 40 and x = 41 would yield the value of A = 9.378 40.540:40.540:40.540.
This figure multiplied by $840 (the interest at eight percent on $10,500) gives $7,877.52 as the gross value of the joint life estate of such persons.
1946, p. 557; Michie Suppl. 1946, § 5133a3; Code 1950, § 55-274; 1973, c. 355; 1981, c. 612; 2019, c. 712.