Where a bequest is contingent, the executor 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.
Section 124: Transfer to residuary legatee of contingent bequest.
The Probate and Administration Act, 1977 (1920 A.d.)Union territory Act of Jammu and Kashmir · Act 29 of 1977
Where this provision sits
| Act | The Probate and Administration Act, 1977 (1920 A.d.) |
|---|---|
| Section | 124 |
| Marginal note | Transfer to residuary legatee of contingent bequest. |
| Jurisdiction | Union territory of Jammu and Kashmir |
| Status | In force as published by the source |
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