Ademption Exceptions

Ademption occurs when a specific gift in a will is no longer available at the time of the testator's death. However, there are exceptions where if the property has been sold or altered, the beneficiary may still receive equivalent value or securities from that property instead of the original item.

A testator leaves a specific piece of real estate to their friend in their will. Before the testator passes away, the property is sold by a conservator, and the proceeds from the sale amount to $200,000. The friend will receive the $200,000 instead of the property, as the sale was made by a conservator and falls under the ademption exceptions.

When property changes hands, the value stays with the devisee!

Exams may present scenarios where students overlook the implications of a conservator's sale or assume that any change to a specific gift results in total loss. It's crucial to recognize the exceptions to ademption.

Questions often involve fact patterns where property has been altered or sold, testing whether students can identify the exceptions to ademption and apply them correctly.