LEGACIES & DEVISES REDUCED BY DEBTS
It is understood that all devises and legacies are subject to the payment of debts of the estate; expenses for administration, and family expenses. (See Rule 89, Rules of Court). In other words, as between creditors of the estate upon the one hand, and legatees and devisees on the other hand, the former are preferred, for the latter are valid only if they come from the net hereditary estate; and provided furthermore, that legitimes have been preserved. (Art. 911).
MODAL ACQUISITION OCCURS WHEN
ANY OR ALL ARE STATED
This occurs when any or all of the following are stated:
- OBJECT (REASON)
Object of the institution — Example: I institute A as my heir to give him enough money to obtain a legal education.
- APPLICATION
Application of the property left by the testator — Example: I institute B as my heir. He will apply the properties of my estate to the erection of a College of Law in Ortigas Avenue.
- CHARGE ON INHERITANCE
The charge imposed by the testator —
Example: I institute A as my heir. He will devote 10% of the annual income from my buildings for the establishment of a professorial chair in Civil Law at the University of Metropolis.