SlideShare a Scribd company logo
VESTED INTEREST &
CONTINGENT INTEREST
Section 19 : Vested interest
 Where, on a transfer of 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.
Characteristics of Vested Interest
 Vested Interest - No time is specified as to when it is to take
effect, or
- It is specified that it shall take effect
immediately, or
- It is to take effect upon the happening certain
event.
 Vested interest is not defeated by death. On the death of the
transferee, the interest is passed to the heir of such transferee.
 Vested interest is a transferable right as well as a heritable right.
Case Law
 Lachman v. Baldeo
 Rajesh Kanta Roy v. Smt. Shanti Debi (AIR
1957 SC 255).
Examples
VESTED INTEREST LIABLE TO BE DIVESTED
SUBSEQUENTLY
A gift a property X to B, with a condition that if he
remains unmarried till he attains the age of 35
years, the property will be forfeited. This creates a
vested interest in favour of B and he would be
divested of his interest if he remains unmarried on
attaining the age of 35 years.
EXAMPLE
 A transfers a property X to B and creates a life
interest in favour of C. Now, the property is to be
enjoyed by C till he’s alive and after his death
would go to B. Here the vested interest is created
at the time of the transfer but the enjoyment of
the property is postponed. B dies during the
lifetime of C. B’s heirs have claim over the property
X, as B had become the owner of the property.
Explanation of Sec. 19
 Postponement of enjoyment
 Prior interest
 Direction for the accumulation of income
 Conditional limitation
Sec. 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.
Section 20-Essentials
 The transfer takes place,
 That transfer creates an interest in favour of an unborn person.
 He acquires a vested interest in that property upon his birth unless the terms
of the transfer provide with a different intention.
This section has to be r/w Section 14 of TPA.
Section 14 provides the time of vesting.
Section 21 : Contingent Interest
 Section 21- “Where, on a transfer of property, an interest therein is
created in favour of a person to take effect only on the happening of
a specified uncertain event, or if a specified uncertain event shall not
happen, such person thereby acquires a contingent interest in the
property. Such interest becomes a vested interest, in the former
case, on the happening of the event, in the latter, when the
happening of the event becomes impossible.”
 CI- Interest which is created in favour of a person on a
condition of the happening of a specified uncertain event.
 The person having the contingent interest does not get the
possession of that property but has the expectancy to
receive it upon happening of that event.
 Example: A agrees to transfer the property ‘X’ to B on the
condition that he shall secure 90 % in his exams. This
condition is uncertain and the happening of the event or not
happening is in doubt and therefore B here acquires a
contingent interest in the property ‘X’. He shall get the
property only if he gets 90 % and when the condition is
fulfilled.
Characteristics of Contingent Interest
 This interest is entirely dependent upon the condition.
It only happens when the condition is fulfilled.
 Death of the transferee before getting the possession of
the property will result in the failure of contingent
interest and the property will remain with the
transferor.
 Contingent interest is a Transferable right, but whether
it is heritable or not, it depends upon the nature of
such any transfer and the condition.

More Related Content

Similar to file_1704271552_0007730_PLSESSION10.pptx

Business Law
Business LawBusiness Law
Business Law
Basil John
 
Transfer of property act 1882 who can transfer
Transfer of property  act 1882 who can transferTransfer of property  act 1882 who can transfer
Transfer of property act 1882 who can transfer
Dr. Vikas Khakare
 
Assignment on the transfer of property act 1882, section 5 35 strength and we...
Assignment on the transfer of property act 1882, section 5 35 strength and we...Assignment on the transfer of property act 1882, section 5 35 strength and we...
Assignment on the transfer of property act 1882, section 5 35 strength and we...
University of Dhaka
 
Mortgage under transfer of property law sec 58
Mortgage under transfer of property law sec 58Mortgage under transfer of property law sec 58
Mortgage under transfer of property law sec 58
Abhishek Sharma
 
Mortgage.pptx
Mortgage.pptxMortgage.pptx
Mortgage.pptx
GopeshSomvanshi
 
Constructive trust
Constructive trustConstructive trust
Constructive trust
Nur Farhana Ana
 
Law. md
Law. mdLaw. md
Quasi contract
Quasi contractQuasi contract
Quasi contract
Saurabh Verma
 
MODULE 6 PDF.pdf
MODULE 6 PDF.pdfMODULE 6 PDF.pdf
MODULE 6 PDF.pdf
JorielDelaCruz
 
Constructive Trusts VII.pptx
Constructive Trusts VII.pptxConstructive Trusts VII.pptx
Constructive Trusts VII.pptx
SelladuraiSelvakkuna
 
capacitytocontract-.pptx
capacitytocontract-.pptxcapacitytocontract-.pptx
capacitytocontract-.pptx
HarshRawat79
 
Types of charges
Types of chargesTypes of charges
Types of charges
Abinash Mandilwar
 
situational.pdf
situational.pdfsituational.pdf
situational.pdf
FrancisLoable1
 
Quasi contracts
Quasi contractsQuasi contracts
Quasi contracts
Vijay Balaji
 
Benami transactions & real estate
Benami transactions & real estateBenami transactions & real estate
Benami transactions & real estate
Team Asija
 
Law on obligation on contract
Law on obligation on contractLaw on obligation on contract
Law on obligation on contract
Beverly Erigan
 
Capacity to contract - Business law
Capacity  to contract - Business lawCapacity  to contract - Business law
Capacity to contract - Business law
shrinivas kulkarni
 
Consideration
ConsiderationConsideration
Consideration
sachin kumar sharma
 
WILL
WILLWILL
NE1
NE1NE1
NE1
attyjdc
 

Similar to file_1704271552_0007730_PLSESSION10.pptx (20)

Business Law
Business LawBusiness Law
Business Law
 
Transfer of property act 1882 who can transfer
Transfer of property  act 1882 who can transferTransfer of property  act 1882 who can transfer
Transfer of property act 1882 who can transfer
 
Assignment on the transfer of property act 1882, section 5 35 strength and we...
Assignment on the transfer of property act 1882, section 5 35 strength and we...Assignment on the transfer of property act 1882, section 5 35 strength and we...
Assignment on the transfer of property act 1882, section 5 35 strength and we...
 
Mortgage under transfer of property law sec 58
Mortgage under transfer of property law sec 58Mortgage under transfer of property law sec 58
Mortgage under transfer of property law sec 58
 
Mortgage.pptx
Mortgage.pptxMortgage.pptx
Mortgage.pptx
 
Constructive trust
Constructive trustConstructive trust
Constructive trust
 
Law. md
Law. mdLaw. md
Law. md
 
Quasi contract
Quasi contractQuasi contract
Quasi contract
 
MODULE 6 PDF.pdf
MODULE 6 PDF.pdfMODULE 6 PDF.pdf
MODULE 6 PDF.pdf
 
Constructive Trusts VII.pptx
Constructive Trusts VII.pptxConstructive Trusts VII.pptx
Constructive Trusts VII.pptx
 
capacitytocontract-.pptx
capacitytocontract-.pptxcapacitytocontract-.pptx
capacitytocontract-.pptx
 
Types of charges
Types of chargesTypes of charges
Types of charges
 
situational.pdf
situational.pdfsituational.pdf
situational.pdf
 
Quasi contracts
Quasi contractsQuasi contracts
Quasi contracts
 
Benami transactions & real estate
Benami transactions & real estateBenami transactions & real estate
Benami transactions & real estate
 
Law on obligation on contract
Law on obligation on contractLaw on obligation on contract
Law on obligation on contract
 
Capacity to contract - Business law
Capacity  to contract - Business lawCapacity  to contract - Business law
Capacity to contract - Business law
 
Consideration
ConsiderationConsideration
Consideration
 
WILL
WILLWILL
WILL
 
NE1
NE1NE1
NE1
 

More from 2020000445musaib

SALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjd
SALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjdSALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjd
SALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjd
2020000445musaib
 
Introduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxx
Introduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxxIntroduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxx
Introduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxx
2020000445musaib
 
Transferable and Non-Transferable Property.pptx
Transferable and Non-Transferable Property.pptxTransferable and Non-Transferable Property.pptx
Transferable and Non-Transferable Property.pptx
2020000445musaib
 
Doctrine of Part-Performance.ddddddddddppt
Doctrine of Part-Performance.ddddddddddpptDoctrine of Part-Performance.ddddddddddppt
Doctrine of Part-Performance.ddddddddddppt
2020000445musaib
 
nnfile_1704271503_0007730_PLSESSION7.pptx
nnfile_1704271503_0007730_PLSESSION7.pptxnnfile_1704271503_0007730_PLSESSION7.pptx
nnfile_1704271503_0007730_PLSESSION7.pptx
2020000445musaib
 
Mortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhh
Mortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhhMortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhh
Mortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhh
2020000445musaib
 
Essentials of a Valid Transfer.pptxmmmmmm
Essentials of a Valid Transfer.pptxmmmmmmEssentials of a Valid Transfer.pptxmmmmmm
Essentials of a Valid Transfer.pptxmmmmmm
2020000445musaib
 
What is Conflict and its Types , Conflict escalation anf
What is Conflict and its Types , Conflict escalation anfWhat is Conflict and its Types , Conflict escalation anf
What is Conflict and its Types , Conflict escalation anf
2020000445musaib
 
Role and Responsibilities of Mediator and Approach
Role and Responsibilities of Mediator and ApproachRole and Responsibilities of Mediator and Approach
Role and Responsibilities of Mediator and Approach
2020000445musaib
 
Mediation, Conciliation and Arbitration under Mediation laew
Mediation, Conciliation and Arbitration under Mediation laewMediation, Conciliation and Arbitration under Mediation laew
Mediation, Conciliation and Arbitration under Mediation laew
2020000445musaib
 
Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.
2020000445musaib
 
Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882
2020000445musaib
 
Attestation presentation under Transfer of property Act
Attestation presentation under Transfer of property ActAttestation presentation under Transfer of property Act
Attestation presentation under Transfer of property Act
2020000445musaib
 

More from 2020000445musaib (13)

SALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjd
SALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjdSALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjd
SALE.pptxdjiuguyfgdsjkfbilhsfbiudjbnkfdjkhfgieyqgbfrkjd
 
Introduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxx
Introduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxxIntroduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxx
Introduction.pptxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
Transferable and Non-Transferable Property.pptx
Transferable and Non-Transferable Property.pptxTransferable and Non-Transferable Property.pptx
Transferable and Non-Transferable Property.pptx
 
Doctrine of Part-Performance.ddddddddddppt
Doctrine of Part-Performance.ddddddddddpptDoctrine of Part-Performance.ddddddddddppt
Doctrine of Part-Performance.ddddddddddppt
 
nnfile_1704271503_0007730_PLSESSION7.pptx
nnfile_1704271503_0007730_PLSESSION7.pptxnnfile_1704271503_0007730_PLSESSION7.pptx
nnfile_1704271503_0007730_PLSESSION7.pptx
 
Mortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhh
Mortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhhMortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhh
Mortgage.pptxjjhjhhhhhhhhhhhhhhhhhhbvhhbhh
 
Essentials of a Valid Transfer.pptxmmmmmm
Essentials of a Valid Transfer.pptxmmmmmmEssentials of a Valid Transfer.pptxmmmmmm
Essentials of a Valid Transfer.pptxmmmmmm
 
What is Conflict and its Types , Conflict escalation anf
What is Conflict and its Types , Conflict escalation anfWhat is Conflict and its Types , Conflict escalation anf
What is Conflict and its Types , Conflict escalation anf
 
Role and Responsibilities of Mediator and Approach
Role and Responsibilities of Mediator and ApproachRole and Responsibilities of Mediator and Approach
Role and Responsibilities of Mediator and Approach
 
Mediation, Conciliation and Arbitration under Mediation laew
Mediation, Conciliation and Arbitration under Mediation laewMediation, Conciliation and Arbitration under Mediation laew
Mediation, Conciliation and Arbitration under Mediation laew
 
Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.
 
Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882
 
Attestation presentation under Transfer of property Act
Attestation presentation under Transfer of property ActAttestation presentation under Transfer of property Act
Attestation presentation under Transfer of property Act
 

Recently uploaded

一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理
一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理
一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理
onduyv
 
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdfV.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
bhavenpr
 
Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?
RoseZubler1
 
一比一原版林肯大学毕业证(lincoln毕业证)如何办理
一比一原版林肯大学毕业证(lincoln毕业证)如何办理一比一原版林肯大学毕业证(lincoln毕业证)如何办理
一比一原版林肯大学毕业证(lincoln毕业证)如何办理
fexbqa
 
suture removal ppt.pptx medical surgical
suture removal ppt.pptx medical surgicalsuture removal ppt.pptx medical surgical
suture removal ppt.pptx medical surgical
AlanSudhan
 
一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理
一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理
一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理
ucoux1
 
一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理
一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理
一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理
duxss
 
It's the Law: Recent Court and Administrative Decisions of Interest
It's the Law: Recent Court and Administrative Decisions of InterestIt's the Law: Recent Court and Administrative Decisions of Interest
It's the Law: Recent Court and Administrative Decisions of Interest
Parsons Behle & Latimer
 
在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样
在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样
在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样
15e6o6u
 
一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理
一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理
一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理
uhsox
 
Business Laws Sunita saha
Business Laws Sunita sahaBusiness Laws Sunita saha
Business Laws Sunita saha
sunitasaha5
 
San Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at SeaSan Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at Sea
Justin Ordoyo
 
一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理
一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理
一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理
gedsuu
 
一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理
一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理
一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理
cadyzeo
 
一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理
一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理
一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理
woywevt
 
一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理
一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理
一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理
pdeehy
 
Capital Punishment by Saif Javed (LLM)ppt.pptx
Capital Punishment by Saif Javed (LLM)ppt.pptxCapital Punishment by Saif Javed (LLM)ppt.pptx
Capital Punishment by Saif Javed (LLM)ppt.pptx
OmGod1
 
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
15e6o6u
 
Corporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal FrameworkCorporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal Framework
devaki57
 
一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理
一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理
一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理
qevye
 

Recently uploaded (20)

一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理
一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理
一比一原版朴次茅斯大学毕业证(uop毕业证)如何办理
 
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdfV.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
V.-SENTHIL-BALAJI-SLP-C-8939-8940-2023-SC-Judgment-07-August-2023.pdf
 
Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?Should AI hold Intellectual Property Rights?
Should AI hold Intellectual Property Rights?
 
一比一原版林肯大学毕业证(lincoln毕业证)如何办理
一比一原版林肯大学毕业证(lincoln毕业证)如何办理一比一原版林肯大学毕业证(lincoln毕业证)如何办理
一比一原版林肯大学毕业证(lincoln毕业证)如何办理
 
suture removal ppt.pptx medical surgical
suture removal ppt.pptx medical surgicalsuture removal ppt.pptx medical surgical
suture removal ppt.pptx medical surgical
 
一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理
一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理
一比一原版新加坡国立大学毕业证(本硕)nus学位证书如何办理
 
一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理
一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理
一比一原版英国伦敦大学亚非学院毕业证(soas毕业证书)如何办理
 
It's the Law: Recent Court and Administrative Decisions of Interest
It's the Law: Recent Court and Administrative Decisions of InterestIt's the Law: Recent Court and Administrative Decisions of Interest
It's the Law: Recent Court and Administrative Decisions of Interest
 
在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样
在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样
在线办理(UNE毕业证书)新英格兰大学毕业证成绩单一模一样
 
一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理
一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理
一比一原版(uottawa毕业证书)加拿大渥太华大学毕业证如何办理
 
Business Laws Sunita saha
Business Laws Sunita sahaBusiness Laws Sunita saha
Business Laws Sunita saha
 
San Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at SeaSan Remo Manual on International Law Applicable to Armed Conflict at Sea
San Remo Manual on International Law Applicable to Armed Conflict at Sea
 
一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理
一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理
一比一原版英国伦敦商学院毕业证(lbs毕业证书)如何办理
 
一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理
一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理
一比一原版加拿大达尔豪斯大学毕业证(dalhousie毕业证书)如何办理
 
一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理
一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理
一比一原版多伦多都会大学毕业证(TMU毕业证书)学历如何办理
 
一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理
一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理
一比一原版(uwgb毕业证书)美国威斯康星大学绿湾分校毕业证如何办理
 
Capital Punishment by Saif Javed (LLM)ppt.pptx
Capital Punishment by Saif Javed (LLM)ppt.pptxCapital Punishment by Saif Javed (LLM)ppt.pptx
Capital Punishment by Saif Javed (LLM)ppt.pptx
 
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
快速办理(SCU毕业证书)澳洲南十字星大学毕业证文凭证书一模一样
 
Corporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal FrameworkCorporate Governance : Scope and Legal Framework
Corporate Governance : Scope and Legal Framework
 
一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理
一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理
一比一原版(uwlc毕业证书)美国威斯康星大学拉克罗斯分校毕业证如何办理
 

file_1704271552_0007730_PLSESSION10.pptx

  • 2. Section 19 : Vested interest  Where, on a transfer of 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.
  • 3. Characteristics of Vested Interest  Vested Interest - No time is specified as to when it is to take effect, or - It is specified that it shall take effect immediately, or - It is to take effect upon the happening certain event.  Vested interest is not defeated by death. On the death of the transferee, the interest is passed to the heir of such transferee.  Vested interest is a transferable right as well as a heritable right.
  • 4. Case Law  Lachman v. Baldeo  Rajesh Kanta Roy v. Smt. Shanti Debi (AIR 1957 SC 255).
  • 5. Examples VESTED INTEREST LIABLE TO BE DIVESTED SUBSEQUENTLY A gift a property X to B, with a condition that if he remains unmarried till he attains the age of 35 years, the property will be forfeited. This creates a vested interest in favour of B and he would be divested of his interest if he remains unmarried on attaining the age of 35 years.
  • 6. EXAMPLE  A transfers a property X to B and creates a life interest in favour of C. Now, the property is to be enjoyed by C till he’s alive and after his death would go to B. Here the vested interest is created at the time of the transfer but the enjoyment of the property is postponed. B dies during the lifetime of C. B’s heirs have claim over the property X, as B had become the owner of the property.
  • 7. Explanation of Sec. 19  Postponement of enjoyment  Prior interest  Direction for the accumulation of income  Conditional limitation
  • 8. Sec. 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.
  • 9. Section 20-Essentials  The transfer takes place,  That transfer creates an interest in favour of an unborn person.  He acquires a vested interest in that property upon his birth unless the terms of the transfer provide with a different intention. This section has to be r/w Section 14 of TPA. Section 14 provides the time of vesting.
  • 10. Section 21 : Contingent Interest  Section 21- “Where, on a transfer of property, an interest therein is created in favour of a person to take effect only on the happening of a specified uncertain event, or if a specified uncertain event shall not happen, such person thereby acquires a contingent interest in the property. Such interest becomes a vested interest, in the former case, on the happening of the event, in the latter, when the happening of the event becomes impossible.”
  • 11.  CI- Interest which is created in favour of a person on a condition of the happening of a specified uncertain event.  The person having the contingent interest does not get the possession of that property but has the expectancy to receive it upon happening of that event.  Example: A agrees to transfer the property ‘X’ to B on the condition that he shall secure 90 % in his exams. This condition is uncertain and the happening of the event or not happening is in doubt and therefore B here acquires a contingent interest in the property ‘X’. He shall get the property only if he gets 90 % and when the condition is fulfilled.
  • 12. Characteristics of Contingent Interest  This interest is entirely dependent upon the condition. It only happens when the condition is fulfilled.  Death of the transferee before getting the possession of the property will result in the failure of contingent interest and the property will remain with the transferor.  Contingent interest is a Transferable right, but whether it is heritable or not, it depends upon the nature of such any transfer and the condition.