The following excerpt is from Argersinger's Will, In re, 348 N.Y.S.2d 304, 75 Misc.2d 767 (N.Y. Surr. Ct. 1973):
That a remainder may be limited upon a bequest of personal property is unquestionable, and it is equally clear that it may be limited upon a bequest of money as well as other personal property. (Smith v. Van Ostrand, 64 N.Y. 278, supra). A cash bequest limited to a life use can certainly be a usufruct, because it can be limited to the right of enjoying the use of it even though it is vested in another, by receiving and enjoying the income and interest which it produces, and particularly where the intent of the one creating the fund and the life use therein can be ascertained. In this case, the clear intent, from a
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