LEGAL PRINCIPLE: SUCCESSION LAW — Intestate Succession — Residuary Estate Includes Real Property
PRINCIPLE STATEMENT
Residuary estate in cases of total intestacy includes the entire estate after payment of expenses, debts, and liabilities. The term is not used to distinguish between real and personal property.
RATIO DECIDENDI (SOURCE)
Per Ayoola, JSC, in Salubi v. Nwariaku & Ors (2003) NLC-1201997(SC) at p. 8; Paras C–E.
"Residuary estate in cases of total intestacy includes the entire estate of the intestate after payment of funeral, testamentary and administration expenses, debts and other liabilities of the estate. The term 'residuary estate' is not used to indicate a distinction between real and personal property."
EXPLANATION / SCOPE
Residuary estate includes both real and personal property. The principle applies to intestate succession. The term has a comprehensive meaning. The rule ensures all assets are distributed. The court will not distinguish between property types. The principle is well-established.
