Indian Succession Act,1925

Act No : 39

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Section : Change by operation of law of subject of specific bequest between dateof will and testator's death.

163. Change by operation of law of subject of specific bequestbetween date of will and testator's death.-Where a thing specificallybequeathed undergoes a change between the date of the will and thetestator's death, and the change takes place by operation of law, orin the course of execution of the provisions of any legal instrumentunder which the thing bequeathed was held, the legacy is not adeemedby reason of such change. Illustrations (i) A bequeaths to B "all the money which I have in the 5 1/2 percent. loan of the Central Government". The securities for the 5 1/2per cent. loan are converted during A's lifetime into 5 per cent.stock. (ii) A bequeaths to B the sum of 2,000 l. invested in Consols inthe names of trustees for A. The sum of 2,000 l. is transferred by thetrustees into A's own name. (iii) A bequeaths to B the sum of 10,000 rupees in promissorynotes of the Central Government which he has power under his marriagesettlement to dispose of by will. Afterwards, in A's lifetime, thefund is converted into Consols by virtue of an authority contained inthe settlement. No one of these legacies has been adeemed.

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