Section 344: Transfer to residuary legatee of contingent bequest
The Succession Act · Federal Acts · Part IX · in_force
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Where a bequest is contingent, the executor or administrator is not bound to invest the amount of the legacy, but may transfer the whole residue of the estate to the residuary legatee, if any, on his giving sufficient security for the payment of the legacy if it shall become due.
Related sections
Section 343: Procedure when no fund charged with, or appropriated to, annuitySection 345: Investment of residue bequeathed for life without direction to invest in particular securitiesSection 342: Investment of general legacy, to be paid at future time: disposal of intermediate interestSection 346: Investment of residue bequeathed for life, with direction to invest in specified securitiesSection 341: Investment of sum bequeathed where legacy, not specific, given for lifeSection 347: Time and manner of conversion and investment
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