Is there a conversion in the terms of the will of a testator to a personal estate where the proceeds of the real estate are transferred to the residuary legatees?
Saskatchewan, Canada
The following excerpt is from Walsh Estate, In re, 1920 CanLII 169 (SK CA):
So far as the real estate is concerned, I agree with the learned trial Judge that by the terms of the will there was a conversion. There is a clearly expressed intention on the part of the testator to deal with the proceeds of the real estate as personality and as a part of his general personal estate. Consequently, any balance that remains after payment of funeral and testamentary expenses, debts and legacies will go to the residuary legatees. Taylor v. Taylor, 3 De G. M. & G. 190, at p. 194, 22 L.J. Ch. 742.
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