Succession, 1925.
pratik
(Querist) 18 July 2010
This query is : Resolved
Indian Succession act, 1925.
363. When unsatisfied legatee must first proceed against executor, if solvent.- If the assets were not sufficient to satisfy all the legacies at the time of the testator's death, a legatee who has not received payment of his legacy must, before he can call on a satisfied legatee to refund, first proceed against the executor or administrator if he is solvent; but if the executor or administrator is insolvent or not liable to pay, the unsatisfied legatee can oblige each satisfied legatee to refund in proportion.
Query: How can a executor or administrator can become a insolvent because a executor is appointer as per the will & the administrator is appointed as per the court process so i have not understood actuall saving of the section that what does the sections speaks .
Pls explain me the section with the help of a example(S).
Thanks In Adavnce.
