Under the Transfer of Property Act, 1882, which one of the following is an exception to the rule…

The rule against perpetuity under Section 14 of the Transfer of Property Act, 1882 applies only to transfers that create a future interest in property beyond the lifetime of one or more living persons and the minority of an ultimate beneficiary. Under Section 18 of the Act, transfers in perpetuity for the benefit of the public (such as gifts for advancement of religion, knowledge, commerce, health, or safety) are expressly exempted from Section 14. Similarly, personal covenants and covenants for pre-emption (Ram Baran Prasad v. Ram Mohit Hazra, AIR 1967 SC 744) do not create an interest in property and are therefore outside the rule against perpetuity.