Section 330Rateable abatement of specific legacies

In forcePart IX Probate, Letters of Administration and Administration of Assets of Deceased.Chapter VII OF THE DUTIES OF AN EXECUTOR OR ADMINISTRATOR

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Part IX Probate, Letters of Administration and Administration of Assets of Deceased.

Chapter VII OF THE DUTIES OF AN EXECUTOR OR ADMINISTRATOR

s. 330

330. 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 Taka, and to C a horse, valued at 1,000 Taka. It is found necessary to sell all the effects of the testator; and his assets, after payment of debts, are only 1,000 Taka. Of this sum [Taka 333.33] are to be paid to B, and [Taka 666.67] to C.

36. The word and figure "Taka 333.33" were substituted, for the word and figure "rupees 333-5-4" by section 3 and 2nd Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)
37. The word and figure "Taka 666.67" were substituted, for the word and figure "rupees 666-10-8" by section 3 and 2nd Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

End of s. 330.

Read the contents: The Succession Act, 1925