Concentration of wealth or other precious things in few hands

can have an effect on effective and commerce and irregular

flow of property can damage the property so,it is important
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that there should be free and active flow of the property.
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hence, section 14 of transfer of property act,1882 deals with
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rule against perpetuity where the term perpetuity means
timelessness. So, this rule says that the property can only be
transfered to and between the living persons only and if the
transferor wants to extend his rights of transferring the same
property to an unborn person it can only be created till the
final receiver attains the age of majority.
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3
As section 13 and 14 goes hand in hand so just touching the
2
section 13,it deals with transfer for the benefit of an unborn
1
person where a prior interest is created once unborn comes
into existence the prior interest comes to an end.
Section 14 is applicable :
. there is transfer of property and an interest is created
. interest created should take an effect after the lifetime of last holder.
. the unborn must come into existence
. The period for postponing the vested interest is life of the living persons pkus the
minority of the ultimate beneficiary plus period of gestation.

as discussed in girjish dutt v. data din where the gift was held
to be void and the property was trannsferred to the legal heirs
of the transferor.
The exceptions are:
. charity as it is made for welfare of the people it used for indefinite operiod for the
prupose spceified before.
. personal agreements as rule is a branch and not a contract
. a contract for pre emption as in baran v. ram mohit
 . convenants running with the land
. mortgage
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In nutshell section 14 of tpa prevents the property from being
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tied up in the hands of a particular family only it applies to all
types of transfer and any transfer that violates the rule is
declared void and reverts back the property to thetransferor
or his legal heir and in his absence the property goes to the
government.The only exception is if the tranfer is made for the
welfare of the public.