Applicability: This section, Section 57, Schedule III, applies to the wills of Hindus.

Scope: The effect and scope of this section is that when a bequest is immediate but payment is postponed, the legacy becomes vested immediately upon the testator's death. If the legatee dies before obtaining the legacy, the legacy passes to their legal representative. This is, however, subject to any contrary intention indicated in the will. In dealing with bequests under this section, the legacy would generally be considered a vested legacy, subject to the possibility of divestment.

If the will clearly specifies that the devolution of interest upon certain persons is to occur only after the death of the first defendant, Section 119 does not apply. Rather, this would be treated as a bequest to a class within the meaning of the exception to Section 11, as seen in Nagarathinam v. Padmadevi, AIR 2001 Mad 53.

This section corresponds to Section 119 of the Transfer of Property Act, 1882. It applies only to cases involving legatees who are not entitled to immediate possession of the property or fund bequeathed and does not apply to bequests of absolute interest that confer an immediate right to possess, as established in Ashit v. Provash, ILR (1949) 1 Cal 298.

Vested and Contingent Interest - Meaning: In legal terms, the word "vest" typically means to "vest in interest." However, the context may sometimes suggest that the word refers to possession, and it is often used to mean "indefeasible" or "payable" (see Henderson, 5th Ed., p. 277; Halsbury, 3rd Ed., Vol. 39, p. 1119; Re Baxter's Trusts (1864) 10 Tur NS 845; Simpson v. Peach (1873) LR 16 Eq 208; Re Stevens (1896) 40 Sol Jo 296). Thus, where there is a directive to pay after a life interest, there is vesting in the eye of the law, as in Burnette Trust Re 3 K & J 280.

Contingent interest, on the other hand, refers to an interest in which the donee takes no proprietary interest unless a specified event, known as a condition precedent, occurs. This interest is only transmissible upon the death of the donee if the condition is not personal and can be fulfilled by the successors of the donee (Henderson, 5th Ed., p. 277).

An estate or interest is considered vested, as opposed to contingent, when enjoyment of it is presently conferred, or if postponed, when the time of enjoyment is certain to arrive. In other words, an estate or interest is vested when there is an immediate right of present enjoyment or a present right of future enjoyment. It is contingent if the right of enjoyment depends on an event or condition that may or may not occur.

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