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Get Answers to all your Questions
Read the following passage and answer the question.
Transfer of property" means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and one or more than one living person. It is clear from this definition that for a conveyance to be covered under the Transfer of Property Act, it must be from one living person to another living person, ie who are both alive at the time of conveyance
However, an exception to this provision is section 13 which facilitates the transfer of immovable property in favour of an unborn person. A person who does not have any current existence but has a specific reference to one and who may be born in the future is considered to be an unborn child or person. Thus, a child who has been conceived as well as a child who has not been conceived at the time of conveyance are both covered under the term. Section 13 of the Transfer of Property Act, 1882 provides that when for the transfer of property, an interest therein is created for the benefit of an unborn person at the date of the transfer, a prior interest is to be created in respect of the same transfer, and 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 person transferring the property in the property to be transferred Other than this provision, property cannot directly be transferred to an unborn person.
Thus, in order to transfer property for the benefit of an unborn person on the date of the transfer, it is imperative
1. The property must first be transferred by the mechanism of trusts in favour of some person living other than the unborn person on the date of transfer, and
2. The interest ultimately created in favour of the unborn person must not be limited by time or otherwise. If the persons for whose benefit the transfer is to take effect are living, any number of successive life interests can be created in their favour. However, in the case of such a person for whose benefit the interest is being acted is an unborn person, the transfer must be absolute and there should be no further transfer him to other people.
Question :- A wanted to transfer his house to his unborn grandson. He executed a gift deed through which he provided that whenever the grandson was born, the property would become his and till then, A will hold the property as a trustee for the grandson. Is this a valid transfer of property?
No, as A has made himself as the trustee of the property
No, as A had transferred property directly to an unborn person
Yes, as A has created a prior interest in the property
Both (a) and (b)
Answers (1)
As provided in the passage transfer in Once own name is a valid Transfer of Property as Aa has made himself a trustee of the property till his grandson is born he has created a prior interest in someone other than the Unborn child thus this is a valid Transfer of Property in favour of an Unborn child.
