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What limit does section 14 of the Transfer of Property Act, 1882 place on when the interest created by…

Section 14 of the Transfer of Property Act, 1882 uses the lifetime of one or more persons living when the transfer is made. It also allows the minority of the intended…

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What limit does section 14 of the Transfer of Property Act, 1882 place on when the interest created by a transfer may take effect?

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Correct answer B

Section 14 of the Transfer of Property Act, 1882 uses the lifetime of one or more persons living when the transfer is made. It also allows the minority of the intended beneficiary, who must be in existence when that period ends and to whom the interest is to belong if they attain full age.

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Option A

Section 14 uses the relevant beneficiary’s minority, without prescribing a fixed extra 16 years.

Option B

This states the relevant lives and the minority of the beneficiary who must be in existence when those lives end and who takes if they attain full age.

Option C

Section 14 does not add a fixed 21-year period.

Option D

The measuring lives must be those of persons already living at the date of transfer.

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