LawgistThe Indian Succession Act
344Transfer to residuary legatee of contingent bequest
Where a bequest is contingent, the executor or administrator is not bound to invest the amount of the legacy, but may transfer the whole residue of the estate to the residuary legatee, if any, on his giving sufficient security for the payment of the legacy, if it shall become due.
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CHAPTER X.--Of the Investment of Funds to Provide for Legacies
- 341 Investment of sum bequeathed, where legacy, not specific, given for life
- 342 Investment of general legacy, to be paid at future time: disposal of intermediate, interest
- 343 Procedure when no fund charged with, or appropriated to, annuity
- 344 Transfer to residuary legatee of contingent bequest
- 345 Investment of residue bequeathed for life, without direction to invest in particular securities
- 346 Investment of residue bequeathed for life, with direction to invest in specified securities
- 347 Time and manner of conversion and investment
- 348 Procedure where minor entitled to immediate payment or possession of bequest, and no direction to pay to person on his behalf
