Week 2 - Section 10 - 20 TPA 1882
10. Condition restraining alienation. Where property is transferred subject to a condition or limitation absolutely restraining the transferred or any person claiming under him from parting with or disposing of his interest in the property, the condition or limitation is void, except in the case of a lease where the condition is for the benefit of the lessor or those claiming under, him. Provided that property may be transferred to or for the benefit of a woman (not being a Hindu, [Muslim] or Buddhist), so that she shall not have power during her marriage to transfer or change the same or her beneficial interest therein.
11. Restriction repugnant to interest created. Where on a transfer or property, and interest therein is created absolutely in favour of any person, but the terms of the transfer direct that such interest shall be applied or enjoyed by him in a particular manner; he shall be entitled to receive and dispose of such interest as if there were no such direction. [Where any such direction has been made in respect of one piece of immovable property for the purpose of s securing the beneficial enjoyment of another piece of such property, nothing in this section shall be deemed to affect any right which the transferor may have to enforce such direction or any remedy which he may have in respect of a breach thereof.]
12. Condition making interest determinable on insolvency or attempted alienation. Where properly is transferred subject to a condition or limitation making any interest therein, reserved or given to or for the benefit or. any person, to case on his becoming insolvent or endeavouring
to transfer or dispose of the same, such condition or limitation is void. Nothing in this section applies to a condition in a lease for the benefit of the lessor or those claiming under him.
13. Transfer for benefit of unborn person. Where, on a transfer of property, an interest therein is created for the benefit of a person not in existence at the date of the transfer, subject to a prior interest created by the same transfer, the interest created for the benefit of such person shall not take effect, unless it extends to the whole of the remaining interest of the transferor in the property. Illustration A transfers property or which he is the owner to B in trust for A and his intended wife successively for their lives, and, after the death of the survivor, for the eldest son of the intended marriage for life, and after his death for A's second son. The interest so created for the benefit of the eldest son does not take effect, because it does not extend to the whole of A's remaining interest in the property.
14. Rule against perpetuity. No transfer of property can operate to create an interest which is to take effect after the life-time of one or more persons living at the date of such transfer, and the minority of some person who shall be in existence at the expiration of that period, and to whom, if he attains full age, the interest created is to belong.
15. Transfer to class some of whom come under sections 13 and 14. If, on a transfer of property, an interest therein is created for the benefit of a class of persons with regard to some of whom such interest fails by reason of any of the rules contained in sections 13 and 14, such interest fails ''[in regard to those persons only and not in regard to the whole class]
16. Transfer to take effect on failure of prior interest. Where, by reason of any of the rules contained in sections 13 and 14, an interest created for the benefit of a person or of a class of persons fails in regard to such person or the whole of such class, an interest created in the .same transaction and intended to take effect after or upon failure of such prior interest also fails.
17. Direction for accumulation. (1) Where the terms of a transfer of property direct that the income arising from the property shall be accumulated either wholly or in part during a period longer than- (a) the life of the transferor, or (b) a period of eighteen years from the date of the transfer, such direction shall, save as hereinafter provided, be void to the extent to which the period during which the accumulation is directed exceeds the longer of the aforesaid periods, and at the end of such last-mentioned period the property and the income thereof shall be disposed of as if the period during which the accumulation has been directed to be made had elapsed. (2) This section shall not affect any direction for accumulation for the purpose of- (i) the payment of the debts of the transferor or any other person taking any interest under the transfer or, (ii) the provision of portions for children or remoter issue of the transferor or of any other person taking any interest under the transfer,' or (iii) the preservation or maintenance of the property transferred; and such direction may be made accordingly.
18. Transfer in perpetuity for benefit of public. The restrictions in sections 14, 16 and 17 shall not apply in the case of a transfer of property for the benefit for the public in the advancement of religion, knowledge, commerce, health, safely, or any other object beneficial to mankind.
19. Vested interest. Where, on a transfer or property, an interest therein is created in favour of a person without specifying the time when it is to take effect, or in terms specifying that it is to take effect forthwith or on the happening of an event which must happen, such interest is vested, unless a contrary intention appears from the terms of the transfer. A vested interest is not defeated by the death of the transferee before he obtains possession.
Explanations An intention that an interest shall not be vested is not to be inferred merely from a provision whereby the enjoyment thereof is postponed, or whereby a prior interest in the same property is given or reserved to some other person, or whereby income arising from the property is directed to be accumulated until the time of enjoyment arrives, or from a provision that if a particular event shall happen the interest shall pass to another person.
20. When unborn person acquires vested interest on transfer for his benefit. Where, on a transfer of property, an interest therein is created for the benefit of a person not then living, he acquires upon his birth, unless a contrary intention appear from the terms of the transfer, a vested interest, although he may not be entitled to the enjoyment thereof immediately on his birth.