Bare ActsThe indian succession act,1925

Section 330

Rateable abatement of specific legacies

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Rateable abatement of specific legacies.-If the assets are not sufficient to answer the debts and the specific legacies, an abatement shall be made from the latter rateably in proportion to their respective amounts. Illustration A has bequeathed to B a diamond ring valued at 500 rupees, and to C a horse, valued at 1,000 rupees. It is found necessary to sell all the effects of the testator; and his assets, after payment of debts, are only 1,000 rupees. Of this sum rupees 333-5-4 are to be paid to B, and rupees 666-10-8 to C.

Section 330 – The indian succession act,1925 | DailyLaw.ai