704. Effect of words of limitation.

Although an annuity1 is personal property2, an annuity could before 1926 be given in such a way that it would devolve on death in the same way as real property3. Thus, a gift of an annuity to a person 'and his heirs' conferred on him an estate in fee simple which, unless he alienated it, descended to his heirs in the same way as real property, and not to his next of kin as personal property4. As descent to the heir has, in general, been abolished and the same rules govern the succession to real estate as to personal