Virginia Code 55.1-502: Table of uniform seniority
When any two parties, as joint tenants for life, are entitled to the annual interest on a sum of money, or are entitled to the use of any estate or a part thereof, and are willing to accept a gross sum in lieu thereof, or the party liable for such interest, or affected by such claim, has the right to pay a gross sum in lieu thereof, or if the court in any legal proceeding orders a gross sum to be paid in lieu thereof, the sum shall be estimated according to the then value of an annuity of eight percent on the principal sum during the probable joint lives of such persons (which probable joint lives shall be computed from the table in this section for computing uniform seniority) as set forth in Column II in the table in § 55.1-500, showing the present value, on the basis of eight percent interest, of an annuity of $1 payable at the end of every year that two persons of given ages may both be living for the ages therein stated:
Terms Used In Virginia Code 55.1-502
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
TABLE OF UNIFORM SENIORITY
| ————————————————————— | |
| ————————————————————— | |
| ————————————————————— | |
| Difference of age | Addition to younger age |
| 1 | 1 |
| 2 | 1 |
| 3 | 2 |
| 4 | 2 |
| 5 | 3 |
| 6 | 4 |
| 7 | 4 |
| 8 | 5 |
| 9 | 6 |
| 10 | 7 |
| 11 | 7 |
| 12 | 8 |
| 13 | 9 |
| 14 | 10 |
| 15 | 11 |
| 16 | 12 |
| 17 | 13 |
| 18 | 14 |
| 19 | 14 |
| 20 | 15 |
| 21 | 16 |
| 22 | 17 |
| 23 | 18 |
| 24 | 19 |
| 25 | 20 |
| 26 | 21 |
| 27 | 22 |
| 28 | 23 |
| 29 | 24 |
| 30 | 25 |
| 31 | 26 |
| 32 | 27 |
| 33 | 28 |
| 34 | 29 |
| 35 | 30 |
| 36 | 31 |
| 37 | 32 |
| 38 | 33 |
| 39 | 34 |
| 40 | 35 |
| 41 | 36 |
| 42 | 37 |
| 43 | 38 |
| 44 | 39 |
| 45 | 40 |
| 46 | 41 |
| 47 | 42 |
| 48 | 43 |
| 49 | 44 |
| 50 | 45 |
| 51 | 46 |
| 52 | 47 |
| 53 | 48 |
| 54 | 49 |
| 55 | 50 |
| 56 | 51 |
| 57 | 52 |
| 58 | 53 |
| 59 | 54 |
| 60 | 55 |
| 61 | 56 |
| 62 | 57 |
| 63 | 58 |
| 64 | 59 |
| 65 | 60 |
| 66 | 61 |
| 67 | 62 |
| 68 | 63 |
| 69 | 64 |
| 70 | 65 |
| 71 | 66 |
| 72 | 67 |
| 73 | 68 |
| 74 | 69 |
| 75 | 70 |
1973, c. 355, § 55-272.1; 1981, c. 612; 2019, c. 712.