The Indian Succession Act, 1925
Section 350. Residuary legatee’s title to produce of residuary fund.
The legatee under a general residuary bequest is entitled to the produce of the residuary fund from the testator's death.
Exception.-- A general residuary bequest contingent in its terms does not comprise the income which may accrue upon the fund bequeathed between the death of the testator and the vesting of the legacy. Such income goes as undisposed of.
Illustrations
(i) The testator bequeaths the residue of his property to A, a minor, to be paid to him when he shall complete the age of 18. The income from the testator's death belongs to A.
(ii) The testator bequeaths the residue of his property to A when he shall complete the age of 18. A, if he completes that age, is entitled to receive the residue. The income which has accrued in respect of it since the testator's death goes as undisposed of.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
Cases citing this section
No order or office report we hold cites this section yet.
Source: Order and office-report PDFs whose text cites the section, read by rule (document_citations); each case through its orders and office reports that carry the PDF