A bequeaths to B—
"my capital stock of 1,000l. in East India Stock":
"my promissory notes of the Central Government for 10,000 rupees in their 4 per cent. loan".
A sells the stock and the notes. The legacies are adeemed.
159. Ademption pro tanto where stock specifically bequeathed, exists in part only at testator’s death —
Where stock which has been specifically bequeathed exists only in part at the testator’s death, the legacy is adeemed so far as regards that part of the stock which has ceased to exist.
A bequeaths to B his 10,000 rupees in the 5½ per cent. loan of the Central Government. A sells one-half of his 10,000 rupees in the loan in question. One-half of the legacy is adeemed.
160. Non-ademption of specific bequest of goods described as connected with certain place, by reason of removal —
A specific bequest of goods under a description connecting them with a certain place is not adeemed by reason that they have been removed from such place from any temporary cause, or by fraud, or without the knowledge or sanction of the testator.
(i) A bequeaths to B "all my household goods which shall be in or about my dwelling-house in Calcutta at the time of my death". The goods are removed from the house to save them from fire. A dies before they are brought back.
(ii) A bequeaths to B "all my household goods which shall be in or about my dwelling-house in Calcutta at the time of my death". During A’s absence upon a journey, the whole of the goods are removed from the house. A dies without having sanctioned their removal.
Neither of these legacies is adeemed.
161. When removal of thing bequeathed does not constitute ademption —
The removal of the thing bequeathed from the place in which it is stated in the will to be situated does not constitute an ademption, where the place is only referred to in order to complete the description of what the testator meant to bequeath.
A bequeaths to B "all the bills, bonds and other securities for money belonging to me now lying in my lodgings in Calcutta". At the time of his death these effects had been removed from his lodgings in Calcutta.
(ii) A bequeaths to B all his furniture then in his house in Calcutta. The testator has a house at Calcutta and another at Chinsurah, in which he lives alternately, being possessed of one set of furniture only which he removes with himself to each house. At the time of his death the furniture is in the house at Chinsurah.
(iii) A bequeaths to B all his goods on board a certain ship then lying in the river Hughli. The goods are removed by A’s directions to a warehouse, in which they remain at the time of A’s death.
No one of these legacies is revoked by ademption.
162. When thing bequeathed is a valuable to be received by testator from third person; and testator himself, or his representative, receives it —
Where the thing bequeathed is not the right to receive something of value from a third person, but the money or other commodity which may be received from the third person by the testator himself or by his representatives, the receipt of such sum of money or other commodity by the testator shall not constitute an ademption, but if he mixes it up with the general mass of his property, the legacy is adeemed.
A bequeaths to B whatever sum may be received from his claim on C. A receives the whole of his claim on C, and sets it apart from the general mass of his property. The legacy is not adeemed.
163. Change by operation of law of subject of specific bequest between date of will and testator’s death —
Where a thing specifically bequeathed undergoes a change between the date of the will and the testator’s death, and the change takes place by operation of law, or in the course of execution of the provisions of any legal instrument under which the thing bequeathed was held, the legacy is not adeemed by reason of such change.
(i) A bequeaths to B "all the money which I have in the 5½ per cent. loan of the Central Government". The securities for the 5½ per cent. loan are converted during A’s lifetime into 5 per cent. stock.
(ii) A bequeaths to B the sum of 2,000£ invested in Consolsin the names of trustees for A. The sum of 2,000£ is transferred by the trustees into A’s own name.
(iii) A bequeaths to B the sum of 10,000 rupees in promissory notes of the Central Government which he has power under his marriage settlement to dispose of by will. Afterwards, in A’s lifetime, the fund is converted into Consols by virtue of an authority contained in the settlement.
No one of these legacies has been adeemed.
164. Change of subject without testator’s knowledge —
Where a thing specifically bequeathed undergoes a change between the date of the will and the testator’s death, and the change takes place without the knowledge or sanction of the testator, the legacy is not adeemed.
A bequeaths to B "all my 3 per cent. Consols". The Consols are, without A’s knowledge sold by his agent, and the proceeds converted into East India Stock. This legacy is not adeemed.
165. Stock specifically bequeathed lent to third party on condition that it be replaced —
Where stock which has been specifically bequeathed is lent to a third party on condition that it shall be replaced, and it replaced accordingly, the legacy is not adeemed.
166. Stock specifically bequeathed sold but replaced, and belonging to testator at his death —
Where stock specifically bequeathed is sold, and an equal quantity of the same stock is afterwards purchased and belongs to the testator at his death, the legacy is not adeemed.
Chapter XVII - Of the Payment of liabilities in respect of the Subject of a Bequest
167. Non-liability of executor to exonerate specific legatees —
(1) Where property specifically bequeathed is subject at the death of the testator to any pledge, lien or incumbrance created by the testator himself or by any person under whom he claims, then, unless a contrary intention appears by the will, the legatee, if he accepts the bequest, shall accept it subject to such pledge or incumbrance, and shall (as between himself and the testator’s estate) be liable to make good the amount of such pledge or incumbrance.
(2) A contrary intention shall not be inferred from any direction which the will may contain for the payment of the testator’s debts generally.
Explanation— A periodical payment in the nature of land-revenue or in the nature of rent is not such an incumbrance as is contemplated by this section.