Indian Succession Act,1925

Act No : 39

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Section : Sale and investment of proceeds of property bequeathed to two or morepersons in succession.

148. Sale and investment of proceeds of property bequeathed totwo or more persons in succession.-Where property comprised in abequest to two or more persons in succession is not specificallybequeathed, it shall, in the absence of any direction to the contrary,be sold, and the proceeds of the sale shall be invested in suchsecurities as the High Court may by any general rule authorise ordirect, and the fund thus constituted shall be enjoyed by thesuccessive legatees according to the terms of the will. Illustration A, having a lease for a term of years, bequeaths all his propertyto B for life, and, after B's death, to C. The lease must be sold, theproceeds invested as stated in this section and the annual incomearising from the fund is to be paid to B for life. At B's death thecapital of the fund is to be paid to C.

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