Va. Code § 55.1-504

Current with changes from the 2024 legislative session through ch. 845

Section 55.1-504 - Makehamized mortality table

When more than two parties as joint tenants for life, or three or more parties as tenants in successive estates, 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 lives of such persons. Probable lives shall be computed from the Makehamized mortality table for total population in the United States, 1969-1971, published by the Bureau of the Census of the Department of Commerce.

X	Ax	Axx	Axxx	Axxxx	Cx
0	12.060	11.670	11.305	10.958	1.000
1	12.291	12.124	11.973	11.832	1.147
2	12.291	12.127	11.979	11.843	1.315
3	12.286	12.120	11.971	11.834	1.508
4	12.278	12.107	11.956	11.816	1.730
5	12.267	12.091	11.934	11.791	1.984
6	12.256	12.071	11.909	11.760	2.275
7	12.242	12.049	11.879	11.724	2.609
8	12.227	12.024	11.846	11.684	2.992
9	12.211	11.996	11.809	11.638	3.431
10	12.192	11.965	11.766	11.587	3.935
11	12.171	11.930	11.720	11.529	4.512
12	12.149	11.892	11.668	11.466	5.175
13	12.125	11.852	11.615	11.401	5.935
14	12.102	11.812	11.562	11.336	6.806
15	12.078	11.773	11.510	11.274	7.805
16	12.055	11.736	11.462	11.215	8.951
17	12.032	11.701	11.416	11.162	10.265
18	12.010	11.666	11.373	11.111	11.772
19	11.988	11.632	11.330	11.062	13.501
20	11.964	11.596	11.286	11.011	15.483
21	11.939	11.559	11.240	10.959	17.756
22	11.913	11.521	11.193	10.905	20.362
23	11.886	11.480	11.144	10.850	23.352
24	11.857	11.437	11.091	10.789	26.780
25	11.824	11.389	11.032	10.723	30.712
26	11.789	11.336	10.968	10.649	35.221
27	11.751	11.278	10.896	10.567	40.392
28	11.709	11.215	10.818	10.478	46.321
29	11.664	11.148	10.734	10.382	53.122
30	11.615	11.075	10.645	10.279	60.921
31	11.564	10.998	10.550	10.171	69.865
32	11.510	10.917	10.450	10.056	80.122
33	11.452	10.831	10.344	9.936	91.885
34	11.391	10.741	10.233	9.809	105.375
35	11.326	10.645	10.117	9.677	120.845
36	11.258	10.545	9.995	9.539	138.586
37	11.186	10.440	9.868	9.396	158.932
38	11.110	10.331	9.735	9.247	182.266
39	11.031	10.217	9.599	9.094	209.024
40	10.948	10.098	9.457	8.936	239.712
41	10.861	9.975	9.311	8.773	274.904
42	10.770	9.847	9.159	8.605	315.263
43	10.675	9.714	9.002	8.432	361.548
44	10.576	9.576	8.841	8.256	414.627
45	10.473	9.434	8.677	8.076	475.500
46	10.365	9.288	8.508	7.893	545.309
47	10.254	9.138	8.336	7.707	625.367
48	10.138	8.983	8.160	7.517	717.178
49	10.018	8.824	7.979	7.234	822.468
50	9.893	8.661	7.796	7.129	943.217
51	9.764	8.493	7.608	6.930	1081.692
52	9.631	8.322	7.418	6.730	1240.497
53	9.493	8.147	7.226	6.529	1422.617
54	9.352	7.970	7.033	6.328	1631.475
55	9.207	7.790	6.838	6.127	1870.995
56	9.057	7.608	6.643	5.927	2145.679
57	8.904	7.423	6.447	5.727	2460.691
58	8.747	7.237	6.250	5.529	2821.950
59	8.586	7.048	6.053	5.331	3236.246
60	8.421	6.856	5.855	5.133	3711.365
61	8.252	6.662	5.656	4.936	4256.238
62	8.078	6.466	5.457	4.740	4881.105
63	7.900	6.267	5.257	4.544	5597.710
64	7.718	6.067	5.056	4.349	6419.521
65	7.532	5.865	4.857	4.157	7361.984
66	7.343	5.663	4.659	3.967	8442.811
67	7.150	5.460	4.462	3.780	9682.318
68	6.954	5.256	4.266	3.596	11103.798
69	6.755	5.052	4.072	3.414	12733.969
70	6.552	4.847	3.879	3.234	14603.468
71	6.345	4.640	3.685	3.055	16747.432
72	6.134	4.431	3.490	2.875	19206.157
73	5.920	4.222	3.296	2.697	22025.851
74	5.705	4.015	3.106	2.523	25259.510
75	5.491	3.812	2.922	2.356	28967.909
76	5.279	3.615	2.745	2.197	33220.746
77	5.069	3.424	2.577	2.047	38097.950
78	4.861	3.239	2.415	1.905	43691.186
79	4.654	3.057	2.258	1.768	50105.577
80	4.448	2.879	2.106	1.636	57461.677
81	4.244	2.706	1.959	1.509	65897.740
82	4.044	2.538	1.818	1.389	75572.319
83	3.846	2.376	1.684	1.276	86667.243
84	3.652	2.217	1.554	1.166	99391.034
85	3.459	2.061	1.425	1.058	113982.830
86	3.272	1.911	1.302	0.955	130716.878
87	3.097	1.774	1.192	0.863	149907.684
88	2.934	1.651	1.095	0.784	171915.931
89	2.780	1.537	1.007	0.713	197155.252
90	2.630	1.426	0.922	0.645	226100.009
91	2.485	1.319	0.839	0.579	259294.204
92	2.350	1.220	0.763	0.519	297361.704
93	2.227	1.131	0.695	0.465	341017.971
94	2.118	1.053	0.636	0.419	391083.501
95	2.024	0.986	0.586	0.380	448499.252
96	1.943	0.931	0.546	0.349	514344.324
97	1.873	0.885	0.512	0.324	589856.243
98	1.811	0.845	0.484	0.302	676454.218
99	1.754	0.810	0.459	0.284	775765.815
100	1.701	0.779	0.437	0.268	889657.545
101	1.651	0.751	0.417	0.254	1020269.949
102	1.602	0.726	0.400	0.241	1170057.821
103	1.550	0.703	0.385	0.230	1341836.349
104	1.492	0.682	0.372	0.221	1538834.028
105	1.420	0.661	0.359	0.212	1764753.329
106	1.322	0.637	0.348	0.205	2023840.295
107	1.178	0.602	0.335	0.197	2320964.336
108	0.955	0.535	0.312	0.188	2661709.752
109	0.595	0.383	0.246	0.158	3052480.684

Example: Three persons, ages 30, 40, and 45, are joint tenants for life in the whole of an estate worth $10,500: the equivalent equal age, w, of these three persons is given by the following formula:

C30 + C40 + C45
Cw	=	---------------------	=	258.711 where
3

C³⁰, C⁴⁰, and C⁴⁵ are found in column 6 of the above table.

A linear interpolation between x = 40 and x = 41 in the above table would yield the value of x = 40.540, which would be the equivalent equal age of the persons involved.

Finally, a linear interpolation between x = 40 and x = 41 would yield the value of A = 9.378 40.540:40.540:40.540.

This figure multiplied by $840 (the interest at eight percent on $10,500) gives $7,877.52 as the gross value of the joint life estate of such persons.

Va. Code § 55.1-504

1946, p. 557; Michie Suppl. 1946, § 5133a3; Code 1950, § 55-274; 1973, c. 355; 1981, c. 612; 2019, c. 712.

Added by Acts 2019 c. 712, § 1, eff. 10/1/2019.