SCHEDULES
FIRST SCHEDULE
Part I . . . F1
Part II Order of Application of Assets where the Estate is solvent
1
Property of the deceased undisposed of by will, subject to the retention thereout of a fund sufficient to meet any pecuniary legacies.
2
Property of the deceased not specifically devised or bequeathed but included (either by a specific or general description) in a residuary gift, subject to the retention out of such property of a fund sufficient to meet any pecuniary legacies, so far as not provided for as aforesaid.
3
Property of the deceased specifically appropriated or devised or bequeathed (either by a specific or general description) for the payment of debts.
4
Property of the deceased charged with, or devised or bequeathed (either by a specific or general description) subject to a charge for the payment of debts.
5
The fund, if any, retained to meet pecuniary legacies.
6
Property specifically devised or bequeathed, rateably according to value.
7
Property appointed by will under a general power, including the statutory power to dispose of entailed interests, rateably according to value.
8
The following provisions shall also apply—
a
The order of application may be varied by the will of the deceased.
b
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Sch. 1 Pt. I repealed by Insolvency Act 1985 (c. 65, SIF 66), s. 235, Sch. 9 para. 11, Sch. 10 Pt. III