732. Setting apart of fund.

732.     Setting apart of fund.

The legatee of a life annuity1 charged on residue is not entitled, in the absence of a trust for sale, to have the estate converted and invested in trustee securities2. However, the residuary legatees may not insist on any distribution of the estate until the annuitant has been properly secured3.

The annuitant is entitled to have such a security as will make it practically certain that the annuity will be fully paid4. Where the court is administering an estate subject to a life annuity charged on income, and the testator's will contains no