PART XXXVIII—PRODUCE AND INTEREST OF LEGACIES.
312. Legatee’s title to produce of specific legacy.
(1) Subject to subsection (2), the legatee of a specific legacy is
entitled to the clear produce of it, if any, from the testator’s death.
(2) A specific bequest, contingent in its terms, does not comprise the
produce of the legacy between the death of the testator and the vesting of the
legacy, and that produce forms part of the residue of the testator’s estate.
313. Residuary legatee’s title to produce of residuary fund.
(1) Subject to subsection (2), the legatee under a general residuary
bequest is entitled to the produce of the residuary fund from the testator’s
death.
(2) A general residuary bequest, contingent in its terms, does not
comprise the income which may accrue upon the fund bequeathed between
the death of the testator and the vesting of the legacy, and that income goes
as undisposed of.
314. Interest.
Where no time has been fixed for the payment of a general legacy, interest
begins to run from the expiration of one year from the testator’s death; except
that where—
(a) that legacy is bequeathed in satisfaction of a debt;
(b) the testator was a parent or a more remote ancestor of the legatee
of such legacy, or has put himself or herself in the place of a
parent of such legatee; or
(c) a sum is bequeathed to a minor with a direction to pay for his or
her maintenance out of it,
interest is payable from the death of the testator.
315. Interest when time fixed for payment.
Where a time has been fixed for the payment of a general legacy, interest
begins to run from the time so fixed, and the interest up to that time forms
part of the residue of the testator’s estate; except that where the testator was
a parent or a more remote ancestor of the legatee, or has put himself or
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