Indian Succession Act,1925
Act No : 39
Section :
Date of vesting of legacy when payment or possession postponed.
119. Date of vesting of legacy when payment or possessionpostponed.-Where by the terms of a bequest the legatee is not entitledto immediate possession of the thing bequeathed, a right to receive itat the proper time shall, unless a contrary intention appears by thewill, become vested in the legatee on the testator's death, and shallpass to the legatee's representatives if he dies before that time andwithout having received the legacy, and in such cases the legacy isfrom the testator's death said to be vested in interest. Explanation.--An intention that a legacy to any person shall notbecome vested in interest in him is not to be inferred merely from aprovision whereby the payment or possession of the thing bequeathed ispostponed, or whereby a prior interest therein is bequeathed to someother person, or whereby the income arising from the fund bequeathedis directed to be accumulated until the time of payment arrives, orfrom a provision that, if a particular event shall happen, the legacyshall go over to another person. Illustrations (i) A bequeaths to B 100 rupees, to be paid to him at the deathof C. On A's death the legacy becomes vested in interest in B, and ifhe dies before C, his representatives are entitled to the legacy. (ii) A bequeaths to B 100 rupees, to be paid to him upon hisattaining the age of 18. On A's death the legacy becomes vested ininterest in B.95 (iii) A fund is bequeathed to A for life, and after his death toB. On the testator's death the legacy to B becomes vested in interestin B. (iv) A fund is bequeathed to A until B attains the age of 18 andthen to B. The legacy to B is vested in interest from the testator'sdeath. (v) A bequeaths the whole of his property to B upon trust to paycertain debts out of the income, and then to make over the fund to C.At A's death the gift to C becomes vested in interest in him. (vi) A fund is bequeathed to A, B and C in equal shares to bepaid to them on their attaining the age of 18, respectively, with aproviso that, if all of them die under the age of 18, the legacy shalldevolve upon D. On the death of the testator, the shares vested ininterest in A, B and C, subject to be divested in case A, B and Cshall all die under 18, and, upon the death of any of them (except thelast survivor) under the age of 18, his vested interest passes, sosubject, to his representatives.
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