LawgistThe Indian Succession Act
351Interest when no time fixed for payment of general legacy
Where no time has been fixed for the payment of a general legacy, interest begins to run from expiration of one year from the testator's death.
Exception.-- (1) Where the legacy is bequeathed in satisfaction of a debt, interest runs from the death of the testator.
(2) Where the testator was a parent or a more remote ancestor of the legatee, or has put himself in the place of a parent of the legatee, the legacy shall bear interest from the death of the testator.
(3) Where a sum is bequeathed to a minor with a direction to pay for his maintenance out of it, interest is payable from the death of the testator.
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CHAPTER XL.--Of the Produce and Interest of Legacies
- 349 Legatee’s title to produce of specific legacy
- 350 Residuary legatee’s title to produce of residuary fund
- 351 Interest when no time fixed for payment of general legacy
- 352 Interest when time fixed
- 353 Rate of interest
- 354 No interest on arrears of annuity within first year after testator’s death
- 355 Interest on sum to be invested produce annuity
