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Transfer of Property

The document discusses principles related to the transfer of property under Indian law, including transfers for the benefit of unborn persons and the rule against perpetuity. It notes that a transfer can be made directly to an unborn person or for their benefit by creating a prior life interest. For a transfer to an unborn person to be valid, the interest must vest before the death of the last preceding living person. The rule against perpetuity establishes that the vesting of interest in an ultimate beneficiary may be postponed only for the life or lives of living persons plus the minority of the beneficiary, but no longer. Exceptions to the rule include transfers for public benefit, personal agreements, rights of preemption, charges, and le

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Saurabh Raj
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125 views3 pages

Transfer of Property

The document discusses principles related to the transfer of property under Indian law, including transfers for the benefit of unborn persons and the rule against perpetuity. It notes that a transfer can be made directly to an unborn person or for their benefit by creating a prior life interest. For a transfer to an unborn person to be valid, the interest must vest before the death of the last preceding living person. The rule against perpetuity establishes that the vesting of interest in an ultimate beneficiary may be postponed only for the life or lives of living persons plus the minority of the beneficiary, but no longer. Exceptions to the rule include transfers for public benefit, personal agreements, rights of preemption, charges, and le

Uploaded by

Saurabh Raj
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Lecture-

15
Transfer of Property
(Property)
Transfer for benefit of unborn person (s. 13)
 General principle
 Transfer directly to unborn person
 Transfer for the benefit of unborn person
o Creation of prior life-interest
o Only absolute interest (no life interest) can be given
 Girjesh Dutt v Data Din AIR 1934 Oudh 35.
 Validity of transfer to be assessed by the language of the deed, and not
by actual events
 Subsequent conduct of limited owner irrelevant
 JV Satyanarayana v Pyboyina Manikyan AIR 1983 AP 139.
 Read with s 20 of the TPA
 Hindu Law and Muslim Law
 Indian Law and English Law
 The Indian Succession Act 1925 — s. 113
Slide-1 30/01/2018
Lecture-
15
Transfer of Property
(Principles
Rule againstof Transfer of Property)
Perpetuity (s. 14)
 Transfer in perpetuity — meaning
 Minority
 Object of rule against perpetuity
 Maximum permissible remoteness of vesting
 Essentials of rule against perpetuity u/s 14
• There is a transfer of property.
• The transfer is for the ultimate benefit of an unborn person who is given
absolute interest.
• The vesting of interest in favour of ultimate beneficiary is preceded by life or
limited interests of living person(s).
• The ultimate beneficiary must come into existence before the death of the
last preceding living person.
• Vesting of interest in favour of the ultimate beneficiary may be postponed
only upto the life or lives of living person(s) plus minority of ultimate
beneficiary, but not beyond that.
Slide-2 30/01/2018
Lecture-
15
Transfer of Property
 Validity of transfer to be assessed
(Principles by theof
of Transfer language of the deed, and not
Property)
by actual events
 Subsequent conduct of limited owner irrelevant
 Contingent interest
 Read with s 20 of the TPA
 Ram Newaz v Nankoo AIR 1926 All 283.
 Exceptions to the rule against perpetuity
o Transfer for the benefit of public (religious, charitable endowments, wakfs,
etc)
o Personal agreements
o Right of pre-emption (Ram Baran Prasad v Ram Mohit Hazra AIR 1967 SC
744)
o Charge
o Lease
 S. 114 of the Indian Succession Act 1925
 Hindu law and Muslim law, and English law
Slide-2 30/01/2018

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