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.
Written By: S Kundu & Associates
Email: [email protected], Ph No: +9051244073
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