Section 13 Transfer of Property Act is a provision that allows the transfer of property for the benefit of an unborn person. The transfer must create an interest for the unborn person subject to a prior interest created by the same transfer, and the interest for the unborn person must extend to the whole of the remaining interest of the transferor in the property. The purpose of this section is to prevent the transferor from creating obstacles for the free disposition of the property by the future generations.
That’s it from my end on
section 13 TPA act.
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According to the Transfer of Property Act of 1882, the property can only be transferred from one living individual to another living individual. When a property is transferred, all of its interests are also transferred to the transferee. So, giving the property to the unborn child would go against the fundamental concept of interest because the interest would be suspended until the transferee is born. However, Section 13 of transfer of property act is the exception to this general norm.
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In accordance with Section 13 of the Transfer of Property Act, property can be transferred for the benefit of an unborn child but not directly to the child.
The general norm, embodied in Section 5, states that property cannot be given directly to an unborn person. So for a lawful transfer of property to an unborn person, a prior interest is created in the favour of a living person.
According to the transfer of property act section 13 when the individual holding the life interest passes away, the unborn child, who has already taken birth at that point, would become the absolute owner of the property.
Pertaining to the section 13 of transfer of property act, the ultimate transaction of property to the unborn child must be of absolute nature, not limited.
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What is Section 13 Transfer of Property?
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2023-04-17T17:13:44+00:00 2023-04-17T17:29:12+00:00Comment
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