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Section 158: Ademption where stock, specifically bequeathed, does not exist at testator's death

Indian Succession Act • Official Statutory Text & Practice Guide

Statutory Regulation
Legal Standard
Competent Court / Tribunal
Act 1925
Section 157 All 391 Sections of Indian Succession Act Section 159

Legal Commentary & Landmark Judgments: Section 158

Section 158 provides that where a specific bequest of stock does not exist at the testator's death, the legacy is completely adeemed.

  • Total Ademption of Specific Stock: Where stock specifically described (e.g. 'my 500 shares in Company X') does not exist at the testator's death because it was sold or liquidated, the legacy is adeemed.
  • Contrast with General Stock Gifts: Unlike general legacies of stock under Section 144 (where executors must purchase equivalent stock), a specific stock legacy fails completely.
  • No Right to Cash Proceeds: The legatee cannot claim the cash realized by the testator from the previous sale of the stock.
Key Landmark Precedents:
  • Ashburner v. Macguire (1786) 2 Bro CC 108: The classical rule that specific stock gifts fail upon sale during the testator's lifetime is strictly applied under Section 158.
  • Subramaniam v. Ramaswamy (1932) 34 BOMLR 1612: The Privy Council affirmed that specific stock bequests cannot be reconstituted out of the general estate if the shares were parted with before death.
Courtroom Practice & Strategic Litigation Guidance:

In probate scrutiny, verify whether the testator sold his specific shares before death; if sold, the bequest is dead under Section 158. However, check whether the shares were merely converted into replacement shares via corporate restructuring under Section 163.

Section 157 All 391 Sections of Indian Succession Act Section 159