The Indian Succession Act, 1925 — Part VI, Chapter XVI: Of Ademption of Legacies
Section 158. Ademption where stock, specifically bequeathed, does not exist at testator’s death
Where stock which has been specifically bequeathed does not exist at the testator’s death, the legacy is adeemed.
Illustration
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.
