Daily Email Newsletter (Sign-up Free)

Section 307 Succession Act 1925: Power of executor or administrator to dispose of property

Section 307 (Power of executor or administrator to dispose of property) under Chapter VI (Of the Powers of an Executor or Administrator) of Part IX (Probate, Letters of Administration and Administration of Assets of Deceased) of the Indian Succession Act, 1925

❝(1) Subject to the provisions of sub-section (2), and executor or administrator has power to dispose of the property of the deceased, vested in him under section 211, either wholly or in part, in such manner as he may think fit.
Illustrations

 (i) The deceased has made a specific bequest of part of his property. The executor, not having assented to the bequest, sells the subject of it. The sale is valid.
 (ii) The executor in the exercise of his discretion mortgages a part of the immoveable estate of the deceased. The mortgage is valid.

(2) If the deceased was a Hindu, Muhammad an, Buddhist, Sikh or Jaina or an exempted person, the general power conferred by sub-section (1) shall be subject to the following restrictions and conditions, namely:—

 (i) The power of an executor to dispose of immovable property so vested in him is subject to any restriction which may be imposed in this behalf by the Will appointing him, unless probate has been granted to him and the Court which granted the probate permits him by an order in writing, notwithstanding the restriction, to dispose of any immovable property specified in the order in a manner permitted by the order.

 (ii) An administrator may not, without the previous permission of the Court by which the letters of administration were granted,—
  (a) mortgage, charge or transfer by sale, gift, exchange or otherwise any immovable property for the time being vested in him under section 211, or
  (b) lease any such property for a term exceeding five years.

 (iii) A disposal of property by an executor or administrator in contravention of clause (i) or clause (ii), as the case may be, is voidable at the instance of any other person interested in the property.

(3) Before any probate or letters of administration is or are granted in such a case, there shall be endorsed thereon or annexed thereto a copy of sub-section (1) and clauses (i) and (iii) of sub-section (2) or of sub-section (1) and clauses (ii) and (iii) of sub-section (2), as the case may be.

(4) A probate or letters of administration shall not be rendered invalid by reason of the endorsement or annexure required by sub-section (3) not having been made thereon or attached thereto, nor shall the absence of such an endorsement or annexure authorise an executor or administrator to act otherwise than in accordance with the provisions of this section.❞




..............................................................

Notes:

The Indian Succession Act, 1925 was amended by from time to time by:
- the Indian Succession (Amendment) Act, 1926 (37 of 1926);
- the Indian Succession (Second Amendment) Act, 1926 (40 of 1926);
- the Repealing and Amending Act, 1927 (10 of 1927);
- the Repealing Act, 1927 (12 of 1927);
- the Indian Succession (Amendment) Act, 1927 (18 of 1927);
- the Indian Succession (Amendment) Act, 1928 (14 of 1928);
- the Indian Succession (Amendment) Act, 1929 (18 of 1929);
- the Transfer of Property (Amendment) Supplementary Act, 1929 (21 of 1929);
- the Indian Succession (Amendment) Act, 1931 (17 of 1931);
- the Amending Act, 1934 (35 of 1934);
- the Government of India (Adaptation of Indian Laws) Order, 1937;
- the Repealing Act, 1938 (1 of 1938);
- the Indian Succession (Amendment) Act, 1939 (17 of 1939);
- the Berar Laws Act, 1941 (4 of 1941);
- the Indian Independence (Adaptation of Central Acts and Ordinances) Order, 1948;
- the Indian Succession (Amendment) Act, 1949 (35 of 1949);
- the Adaptation of Laws Order, 1950;
- the Part B States (Laws) Act, 1951 (3 of 1951);
- the Repealing and Amending Act, 1952 (48 of 1952);
- the Repealing and Amending Act, 1953 (42 of 1953);
- the Union Territories (Laws) Amendment Act, 1956 (68 of 1956);
- the Indian Succession (Amendment) Act, 1957 (34 of 1957);
- the Indian Succession (Amendment) Act, 1962 (16 of 1962);
- the Repealing and Amending Act, 1964 (52 of 1964);
- the Delegated Legislation Provisions (Amendment) Act, 1983 (20 of 1983);
- the Indian Succession (Amendment) Act, 1991 (51 of 1991);
- the Repealing and Amending Act, 2001 (30 of 2001);
- the Indian Succession (Amendment) Act, 2002 (26 of 2002).

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.