Lecture-

18
Transfer of Property
Contingent (Principles of Transfer
Interest and Vestedof Property)
Interest (ss 19-24)
 Vested interest
 Substance to be preferred to form
 Nature of vested interest
o Present fixed interest
o Transferable and heritable
 Explanation: An intention that an interest shall not be vested
is not to be inferred merely from
 a provision whereby the enjoyment thereof is postponed, or
 whereby a prior interest in the same property is given or reserved to
some other person, or
 whereby income arising from the property is directed to be accumulated
until the time of enjoyment arrives, or
 from a provision that if a particular event shall happen the interest shall
pass to another person.
Slide-1 21/02/2022
 Lecture-
18
Transfer of Property
 Contingent(Principles
interestof Transfer of Property)
 Substance to be preferred to form
 Nature of vested interest
o Future possible interest
o Transferable, but not heritable
o Difference between contingent interest and spes-
successionis
 Exception: Where, under a transfer of property, a person
becomes entitled to an interest therein upon attaining a particular
age, and the transferor also gives to him absolutely the income to
arise from such interest before he reaches that age, or directs
the income or so much thereof as may be necessary to be
applied for his benefit, such interest is not contingent.

Slide-2 21/02/2022
 Lecture-
18
Transfer of Property
(Principlesand
Contingent Interest of Transfer
Vested of Property)
Interest: Difference
 When accrues
 Nature of title
 Transferee’s right in property
 Transferability
 Heritability
 Attachment and sale in execution of decree

 Rajesh Kanta Roy v Shanti Debi AIR 1957 SC 255.

 Kokilambal v N Raman (2005) 11 SCC 234: AIR 2005
SC 2468.

Slide-3 21/02/2022