Succession Act, 1925 — Section 143: Bequest of certain sum where stocks, etc

143. Bequest of certain sum where stocks, etc., in which invested are described. Where a certain sum is bequeathed, the legacy is not specific merely because the stock, funds or securities in which it is invested are described in the will. Illustration A bequeaths to B― “ 10, 000 rupees of my funded property”: “10, 000 rupees of my property now invested in shares of the 2[National Bank of Pakistan]”: “10, 000 rupees, at present secured by mortgage of 3[Rahimyarkhan] factory.” No one of these legacies is specific. 144. Bequest of stock where testator had, at date of will, equal or greater amount of stock of same kind. Where a bequest is made in general terms of a certain amount of any kind of stock, the legacy is not specific merely because the testator was, at the date of his will, possessed of stock of the specified kind, to an equal or greater amount than the amount bequeathed. Illustration A bequeaths to B 5,000 rupees five per cent. Government securities. A had at the date of the will five per cent. Government securities for 5,000 rupees. The legacy is not specific. 145. Bequest of money where not payable until part of testator’s property disposed of in certain way. A money legacy is not specific merely because the will directs its payment to be postponed until some part of the property of the testator has been reduced to a certain form, or remitted to a certain place. Illustration A bequeaths to B 10, 000 rupees and directs that this legacy shall be paid as soon as A’s property in India shall be realised in England. The legacy is not specific.