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Section 16 - Transfer to take effect on failure of prior interest : Transfer of Property Act, 1882

 

 

What is the meaning Transfer to take effect on failure of prior interest? Section 16 of Transfer of Property Act, 1882

Section 16 of Transfer of Property Act 1882 : "Transfer to take effect on failure of prior interest"

16. Where, by reason of any of the rules contained in sections 13 and 14, an interest created for the benefit of a person or of a class of persons fails in regard to such person or the whole of such class, any interest created in the same transaction and intended to take effect after or upon failure of such prior interest also fails.

 
 

TRANSFER OF PROPERTY ACT 1882

Section 2 - Repeal of Acts - Saving of certain enactments, incidents, rights, liabilities, etc

Section 3 - Interpretation clause

Section 4 - Enactments relating to contracts to be taken as part of Contract Act and supplemental to the Registration Act

CHAPTER II
OF TRANSFERS OF PROPERTY BY ACT OF PARTIES
A - Transfer of property, whether movable or immovable

Section 5 - Transfer of property defined

 

 

Section 6 - What may be transferred

Section 7 - Persons competent to transfer

Section 8 - Operation of transfer

Section 9 - Oral transfer

Section 10 - Condition restraining alienation

 

 

Section 11 - Restriction repugnant to interest created

Section 12 - Condition making interest determinable on insolvency or attempted alienation

Section 13 - Transfer for benefit of unborn person

Section 14 - Rule against perpetuity

Section 15 - Transfer to class some of whom come under sections 13 and 14

 

 

Section 16 - Transfer to take effect on failure of prior interest

Section 17 - Direction for accumulation

Section 18 - Transfer in perpetuity for benefit of public

Section 19 - Vested interest

Section 20 - When unborn person acquires vested interest on transfer for his benefit

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