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Report No. 110

45.2. Section 349-Legatee's title to produce of specific legacy.-

Section 349 reads as under:-

"349. The legatee of a specific legacy is entitled to the clear produce thereof, if any from the testator's death.

Exception.-A specific bequest, contingent in its terms, does not comprise the produce of the legacy between the death of the testator and the vesting of the legacy. The clear produce of it forms part of the residue of the testator's estate.

Illustrations

(i) A bequeaths his flock of sheep to B. Between the death of A and delivery by his executor the sheep are shorn or some of the ewes produce lambs. The wool and lambs are the property of B.

(ii) A bequeaths his Government securities to B, but postpones delivery of them till the death of C. The interest which falls due between the death of A and the death of C belongs to B, and must, unless he is minor, be paid to him as it is received.

(iii) The testator bequeaths all his four per cent, Government promissory notes to A when he shall complete the age of 18. A if he completes that age, is entitled to receive the notes, but the interest which accrues in respect of them between the testator's death and A's completing 18, forms part of the residue".

The section needs no change.



The Indian Succession Act, 1925 Back




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