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For a direction to accumulate income, section 17(1) of the Transfer of Property Act, 1882 compares the…

Section 17(1)(b) sets a benchmark of 18 years from the transfer date. Subject to statutory exceptions, an accumulation direction is void to the extent that it exceeds the…

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For a direction to accumulate income, section 17(1) of the Transfer of Property Act, 1882 compares the transferor’s lifetime with a fixed period measured from the date of transfer. What is that fixed period?

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Answer and explanation

Correct answer A

Section 17(1)(b) sets a benchmark of 18 years from the transfer date. Subject to statutory exceptions, an accumulation direction is void to the extent that it exceeds the longer of that period and the transferor’s lifetime.

Option feedback

Option A

Section 17(1)(b) gives 18 years from the date of transfer.

Option B

Section 17(1)(b) specifies 18 years.

Option C

The statute uses an 18-year benchmark.

Option D

The fixed period under section 17(1)(b) is 18 years.

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