Section 342 of the Indian Succession Act, 1925 – Investment of general legacy, to be paid at future time: disposal of intermediate, interest

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Section 342: Investment of general legacy, to be paid at future time: disposal of intermediate, interest

(1) Where a general legacy is given to be paid at a future time, the executor or administrator shall invest a sum sufficient to meet it in securities of the kind mentioned in section 341. (2) The intermediate interest shall form part of the residue of the testator’s estate.

Source: official text of The Indian Succession Act, 1925 as published on India Code (PDF). All sections of the Indian Succession Act, 1925.

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