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As per Section 15 of the Transfer of Property Act, 1882, if on a transfer of property, an interest…

Under Section 15 of the Transfer of Property Act, 1882 (Transfer to class some of whom come under sections 13 and 14, as substituted by the Transfer of Property (Amendment)…

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As per Section 15 of the Transfer of Property Act, 1882, 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:

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Answer and explanation

Correct answer B

Under Section 15 of the Transfer of Property Act, 1882 (Transfer to class some of whom come under sections 13 and 14, as substituted by the Transfer of Property (Amendment) Act, 1929), "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."

Section 15 expressly provides that the interest fails "in regard to those persons only".

  • "in regard to the whole class": This was the pre-1929 rule (based on Leake v. Robinson), which was expressly reversed by the 1929 Amendment to Section 15 TPA.
  • "In regard to transferee only" and "In regard to the transferor only": Not the statutory language of Section 15 TPA.

Option feedback

Option A

Incorrect: "in regard to the whole class": This was the pre-1929 rule (based on Leake v. Robinson), which was expressly reversed by the 1929 Amendment to Section 15 TPA.

Option B

Correct: 'in regard to those persons only' is the accurate answer. Section 15, Transfer of Property Act, 1882 (as amended by Act 20 of 1929): 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.

Option C

Incorrect: "In regard to transferee only" and "In regard to the transferor only": Not the statutory language of Section 15 TPA.

Option D

Incorrect: "In regard to transferee only" and "In regard to the transferor only": Not the statutory language of Section 15 TPA.

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