2023 Code of Virginia › Title 55.1 - Property and Conveyances › Chapter 5 - Commutation and Valuation of Certain Estates and Interests › § 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:
C
30
+ C
40
+ C
45
C
w
=
---------------------
=
258.711 where
3
C
30
, C
40
, and C
45
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.
1946, p. 557; Michie Suppl. 1946, § 5133a3; Code 1950, § 55-274; 1973, c. 355; 1981, c. 612; 2019, c. 712.