697. Priority between annuities.

697.     Priority between annuities.

Where a will creates more than one annuity1, and there are insufficient assets to pay all of them in full, the question of priority between them is a matter of construction. A direction to pay a particular annuity out of residue may postpone it to other annuities given by the will not subject to such a direction2. However, where a testator grants an annuity to A and 'subject thereto' devises estates, and by subsequent codicils charges the same estates with other annuities, A's annuity will have priority3. It has been held that the