transfer of property for the benefit of unborn person
TRANSFER OF PROPERTY FOR THE BENEFIT OF UNBORN PERSON The provision of transfer of property Act,1882 in general do not allow the transfer of property directly to an unborn but for the benefit of unborn. Although the TPA,1882 talks about transfer of property between living persons (inter vivos) but section 13 of TPA,1882 provides an exception to the rule.It provides that a property can be transferred for the benefit of a person who does not have current existence but has a specific reference to one and who may be born in the future is considered to be an Unborn person. The essential conditions to transfer property for the benefit of an unborn person are :- A).NO DIRECT TRANSFER :- A transfer cannot be directly made to an unborn person.Such a transfer can only be brought into existence by the mechanism of trusts.It is a principle of property law that every property must have an owner. Accordingly, if a transfer of property is made to an unborn, it will lead to a scenario where...