Report No. 110
45.4. Section 351-Interest when no time fixed for payment of general legacy.-
While the last two sections were concerned with the produce of property, the next four deal with interest. Section 351 provides as follows:-
"351. Where no time has been fixed for the payment of a general legacy, interest begins to run from expiration of one year from the testator's death.
Exceptions-(1) Where the legacy is bequeathed in satisfaction of a debt, interest runs from the death of the testator.
(2) Where the testator was a parent or a more remote ancestor of the legatee, or has put himself in the place of a parent of the legatee, the legacy shall bear interest from the death of the testator.
(3) Where a sum is bequeathed to a minor with a direction to pay for his maintenance out of it, interest is payable from the death of the testator."
Back
