Idaho Code 15-2-607 – Change in Securities — Accessions — Nonademption
Current as of: 2023 | Check for updates
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(a) If the testator intended a specific devise of certain securities rather than the equivalent value thereof, the specific devisee is entitled only to:
(1) as much of the devised securities as is a part of the estate at the time of the testator’s death;
Terms Used In Idaho Code 15-2-607
- Devise: To gift property by will.
- Testator: A male person who leaves a will at death.
(2) any additional or other securities of the same entity owned by the testator by reason of action initiated by the entity excluding any acquired by exercise of purchase options;
(3) securities of another entity owned by the testator as a result of a merger, consolidation, reorganization or other similar action initiated by the entity; and
(4) any additional securities of the entity owned by the testator as a result of a plan of reinvestment if it is a regulated investment company.
(b) Distributions prior to death with respect to a specifically devised security not provided for in subsection (a) of this section are not part of the specific devise.