Section 63 of Probate And Administration Ordinance states that where the estate of a deceased person is solvent his estate shall be in the order mentioned in Part II of Schedule 1 of the Ordinance. The estate shall be subject to rules of court and the provisions hereinafter contained as to charges on property of the deceased, and to the provisions, if any, contained in his will, be applicable towards the discharge of the funeral, testamentary and administration expenses, debts and liabilities payable thereout.
PART II of Schedule 1 of Probate And Administration Ordinance
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, 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) this Part of this Schedule does not affect the liability of immovable property to answer the estate duty (if any) imposed thereon in exoneration of other assets.