Section 172: Bequest of interest or produce of fund CHAPTER XX OF BEQUESTS OF ANNUITIES

Where the interest or produce of a fund is bequeathed to any person, and the will affords no indication of an intention that the enjoyment of the bequest should be of limited duration, the principal, as well as the interest, shall belong to the legatee. Illustrations (i) A bequeaths to B the interest of his 5 per cent. promissory notes of the [Federal Government]. There is no other clause in the will affecting those securities. B is entitled to A’s 5 per cent. promissory notes of the [Federal Government]. (ii) A bequeaths the interest of his 5-1/2 per cent. promissory notes of the [Federal Government] to B for his life, and after his death to C. B is entitled to the interest of the notes during his life, and C is entitled to the notes upon B’s death. (iii) A bequeaths to B the rents of his lands at X. B is entitled to the lands. CHAPTER XX OF BEQUESTS OF ANNUITIES

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