Another Ademption Post!

aka: I’m a huge nerd

In a previous post I wrote about ademption and the mystery of demonstrative gifts… Today Professor Berry gives us Ademption & Equitable Conversion

The testator executed a will devising a home to Beneficiary. Later, the testator entered into a contract to sell the home to Purchasers. The testator died before the closing. The trial court held that the devise adeemed and that Purchasers were entitled to specific performance of the contract. The appellate court affirmed.

The court explained that once the testator executed the contract to sell the home, equitable conversion occurred. In other words, in equity, the testator no longer owned real property (the home) but instead owned personal property (the contract right to the proceeds of the sale because the sale contract was specifically enforceable).

Great case!

Thanks Professor!

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