Bare Act Search Results

Succession Act, 1925 Complete Act

State: Central

Year: 1925

.....under this section or exempted from the operation of any of the provisions of the Indian Succession Act, 1865(10 of 1865), under section 332 of that Act are in this Act referred to as "exempted persons". PART 02 OF DOMICILE SECTION 04: APPLICATION OF PART This Part shall not apply if the deceased was a Hindu, Muhammadan, Buddhist, Sikh or Jaina. SECTION 05: LAW REGULATING SUCCESSION TO DECEASED PERSON'S IMMOVABLE AND MOVABLE PROPERTY, RESPECTIVELY (1) Succession to the immovable property in India of a person deceased shall be regulated by the law of India, wherever such person may have had his domicile at the time of his death. (2) Succession to the movable property of a person deceased is regulated by the law of the country in which such person had his domicile at the time of his death. SECTION 06: ONE DOMICILE ONLY AFFECTS SUCCESSION TO MOVABLES A person can have only one domicile for the purpose of the succession to his movable property. SECTION 07: DOMICILE OF ORIGIN OF PERSON OF LEGITIMATE BIRTH The domicile of origin of every person of legitimate birth is in the country in which at the time of his birth his father was domiciled; or, if he is a posthumous.....

Indian Succession Act, 1925 Chapter 13

Title: Of the Liability of an Executor or Administrator for Devastation

State: Central

Year: 1925

..... (d) the right in which the petitioner claims; (e) the absence of any impediment under section 370 or under any other provision of this Act or any other enactment, to the grant of the certificate or to the validity thereof if it were granted; and (f) the debts and securities in respect of which the certificate is applied for. ( 2) If the petition contains any averment which the person verifying it knows or believes to be false, or does not believe to be true, that person shall be deemed to have committed an offence under section 198 of the Indian Penal Code, 1860 (45 of 1860). 1[(3) Application for such a certificate may be made in respect of any debt or debts due to the deceased creditor or in respect of portions thereof] _____________________ 1. Added by Act 14 of 1928, section 2. Section 372 - Application for certificate ( 1) Application for such a certificate shall be made to the District Judge by a petition signed and verified by or on behalf of the applicant in the manner prescribed by the Code of Civil Procedure, 1908 (5 of 1908) for the signing and verification of a plaint by or on behalf of a plaintiff, and setting forth the following.....

Indian Succession Act, 1925 Part 10

Title: Succession Certificates

State: Central

Year: 1925

.....in this Part referred to as a certificate) shall not be granted under this Part with respect to any debt or security to which a right is required by section 212 or section 213 to be established by letters of administration or probate: Provided that nothing contained in this section shall be deemed to prevent the grant of a certificate to any person claiming to be entitled to the effects of a deceased Indian Christian, or to any part thereof, with respect to any debt or security, by reason that a right thereto can be established by letters of administration under this Act. (2) For the purposes of this Part, "security" means- (a) any promissory note, debenture, stock or other security of the Central Govern­ment or of a State Government; (b) any bond, debenture, or annuity charged by Act of Parliament1[of the United Kingdom] on the revenues of India; (c) any stock or debenture of, or share in, a company or other incorporated institution; (d) any debenture or other security for money issued by, or on behalf of, a local authority; (e) any other security which the2[State Government] may, by notification in the Official Gazette, declare to be a security for the.....

Indian Succession Act, 1925 Section 370

Title: Restriction on Grant of Certificates Under This Part

State: Central

Year: 1925

.....in this Part referred to as a certificate) shall not be granted under this Part with respect to any debt or security to which a right is required by section 212 or section 213 to be established by letters of administration or probate: Provided that nothing contained in this section shall be deemed to prevent the grant of a certificate to any person claiming to be entitled to the effects of a deceased Indian Christian, or to any part thereof, with respect to any debt or security, by reason that a right thereto can be established by letters of administration under this Act. (2) For the purposes of this Part, "security" means- (a) any promissory note, debenture, stock or other security of the Central Govern­ment or of a State Government; (b) any bond, debenture, or annuity charged by Act of Parliament1[of the United Kingdom] on the revenues of India; (c) any stock or debenture of, or share in, a company or other incorporated institution; (d) any debenture or other security for money issued by, or on behalf of, a local authority; (e) any other security which the2[State Government] may, by notification in the Official Gazette, declare to be a security for the.....

INDIAN SUCCESSION ACT, 1925 Section 170

Title: Exoneration of specific legatee's stock in joint stock company

State: Central

Year: 1925

.....of the call. These payments must be borne by A's estate. (ii) A has agreed to take 50 shares in an intended joint-stock company, and has contracted to pay up 100 rupees in respect of each share, which sum must be paid before his title to the shares can be completed. A bequeathes these shares to B. The estate of A must make good the payments which were necessary to complete A's title. (iii) A bequeaths to B his shares in a certain railway. B accepts the legacy. After A's death a call is made in respect of the shares. B must pay the call. (iv) A bequeaths to B his shares in a joint-stock company. B accepts the bequest. Afterwards the affairs of the company are wound up, and each shareholder is called upon for contribution. The amount of the contribution must be borne by the legatee. (v) A is the owner often shares in a railway company. At a meeting held during his lifetime a call is made of fifty rupees per share, payable by three instalments. A bequeaths his shares to B, and dies between the day fixed for the payment of the first and the day fixed for the payment of the second instalment, and without having paid the first instalment. A's estate must pay the first.....

INDIAN SUCCESSION ACT, 1925 Section 158

Title: Ademption where stock, specifically bequeathed, does not exist at testator's death

State: Central

Year: 1925

Where stock which has been specifically bequeathed does not exist at the testator's death, the legacy is adeemed. Illustration A bequeaths to B "my capital stock of 1,000l. in East India Stock": "my promissory notes of the Central Government for 10,000 rupees in their 4 per cent. loan". A sells the stock and the notes. The legacies are adeemed.

Indian Succession Act, 1925 Section 144

Title: Bequest of Stock Where Testator Had, at Date of Will, Equal or Greater Amount of Stock of Same Kind

State: Central

Year: 1925

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.

INDIAN SUCCESSION ACT, 1925 Section 159

Title: Ademption pro tanto where stock specifically bequeathed, exists in part only at testator's death

State: Central

Year: 1925

Where stock which has been specifically bequeathed exists only in part at the testator's death, the legacy is adeemed so far as regards that part of the stock which has ceased to exist. Illustration A bequeaths to B his 10,000 rupees in the 5 1/2 per cent. loan of the Central Government. A sells one-half of his 10,000 rupees in the loan in question. One-half of the legacy is adeemed.

Indian Succession Act, 1925 Section 166

Title: Stock Specifically Bequeathed Sold but Replaced, and Belonging to Testator at His Death

State: Central

Year: 1925

Where stock specifically bequeathed is sold, and an equal quantity of the same stock is afterwards purchased and belongs to the testator at his death, the legacy is not adeemed.

Indian Succession Act, 1925 Section 143

Title: Bequest of Certain Sum Where Stocks, Etc., in Which Invested Are Described

State: Central

Year: 1925

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 East Indian Railway Company": "10,000 rupees, at present secured by mortgage of Rampur factory". No one of these legacies is specific.