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Report No. 110

18.2. Section 119.- Section 119 reads:

"119. Where by the terms of a bequest the legatee is not entitled to immediate possession of the thing bequeathed, a right to receive it at the proper time shall unless a contrary intention appears by the will, become vested in the legatee on the testator's death, and shall pass to the legatee's representatives ii he dies before that time and without having received the legacy, and in such cases the legacy is from the testator's death said to be vested in interest.

Explanation.-An intention that a legacy to any person shall not become vested in interest in him is not to be inferred merely from a provision whereby the payment or possession of the thing bequeathed is postponed, or whereby a prior interest therein is bequeathed to some other person, or whereby the income arising from the fund bequeathed is directed to be accumulated until the tune of payment arrives, or from a provision that, if a particular event shall happen, the legacy shall go over to another person".

The section needs no change.

18.3. Section 120.-

Section 120 deals with the date of vesting when a legacy is contingent upon a specified uncertain event. The legacy may be dependent either on the happening of the event, or on the non-happening of the event. In the former case, the legacy does not vest until the event happens. In the latter case, the legacy does not vest until the event becomes impossible. Until vesting, the interest of the legatee is called a "contingent".



The Indian Succession Act, 1925 Back




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