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Under the Transfer of Property Act, 1882, no transfer of property can operate to create an interest…

Section 14 limits postponement of vesting to the life or lives in being at the transfer date plus the minority of a person living at their expiry to whom the interest is to…

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Under the Transfer of Property Act, 1882, no transfer of property can operate to create an interest which is to take effect after the lifetime of one or more persons living at the date of such transfer and minority of some person who shall be living at the expiration of that period. It is:

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Correct answer C

Section 14 limits postponement of vesting to the life or lives in being at the transfer date plus the minority of a person living at their expiry to whom the interest is to belong on attaining majority. This is the rule against perpetuity, rather than contractual frustration or a rule labelled retrospective transfer. The Act contains particular public-benefit exceptions, which do not change the rule’s name.

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