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A is entitled to a life-interest in mauza Atrali, and B and C to the reversion. They sell the mauza for…

Illustration (b) to section 46 gives A, the life-tenant, "Rs. 600 out of the purchase-money", leaving the value of the reversion, Rs. 400, to B and C. Section 46 makes…

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A is entitled to a life-interest in mauza Atrali, and B and C to the reversion. They sell the mauza for Rs. 1,000. A's life-interest is found to be worth Rs. 600 and the reversion Rs. 400. There is no contract among them about the price. How is the purchase-money shared?

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Correct answer C

Illustration (b) to section 46 gives A, the life-tenant, "Rs. 600 out of the purchase-money", leaving the value of the reversion, Rs. 400, to B and C. Section 46 makes transferors with distinct interests share equally only where their interests are of equal value, and otherwise "proportionately to the value of their respective interests". Splitting by heads or into halves ignores the unequal value of a life-interest and a reversion.

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