When Property is Transfer in favour of a person But not Expressly mention that when the person get whole interest in the property .
1 No Time is fixed for its taking effect OR
2 It is to take effect forthwith. Or
3 Or It is to take effect On happening of certain event which must happen .
4 It will be Vested Interest, However be defeated by the death of the Donor before he obtain possession
its enjoyment is postponed
Prior interest is reserved to some other person
it is directed to be accumulated till the arrival of the time of enjoyment
or happening of a particular event, that to pass to another person
Essential Features Of Vested Interest
1 vested interest is unconditional
2 The vested Interest does not effect with the death of transforer
3 the vested interest create absolute ownership in the property
4 the person can transfer and it can also inheritable
For Video Lecture
No comments:
Post a Comment