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Section 144: Bequest of stock where testator had, at date of will, equal or greater amount of stock of same kind

Indian Succession Act • Official Statutory Text & Practice Guide

Statutory Regulation
Legal Standard
Competent Court / Tribunal
Act 1925
Section 143 All 391 Sections of Indian Succession Act Section 145

Legal Commentary & Landmark Judgments: Section 144

Section 144 establishes that a bequest of stock is not specific merely because the testator owned an equal or greater amount of that stock at the date of the will.

  • Presumption of General Legacy: A bequest of stock is not specific merely because the testator had, at the date of the will, an equal or greater amount of stock of the same kind.
  • Absence of Specific Possessive Words: Where the bequest omits possessive words like 'my' (e.g. bequeathing '500 shares of Tata Motors' instead of 'my 500 shares of Tata Motors'), it remains a general legacy.
  • Executor's Duty to Procure: If the testator sells the stock before death, the legacy does not adeem; the executor must purchase the stock out of the general estate to satisfy the bequest.
Key Landmark Precedents:
  • Subramaniam v. Ramaswamy (1932) 34 BOMLR 1612: The Privy Council highlighted the crucial statutory distinction under Section 144: absence of possessive earmarking prevents the bequest from becoming a specific legacy.
  • Ranganathan Chettiar v. Periakaruppan Chettiar AIR 1957 SC 815: Held that courts lean against holding legacies of securities to be specific where general phraseology is used.
Courtroom Practice & Strategic Litigation Guidance:

In probate estate audits, if the testator bequeathed '1,000 shares of Infosys' but held no such shares at death, executors cannot reject the legatee's claim; under Section 144, the executor must buy 1,000 shares from general estate funds.

Section 143 All 391 Sections of Indian Succession Act Section 145