Section 19 of TPA : Section 19: Vested Interest
TPA
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Explanation using Example
Imagine a man, Mr. A, who owns a piece of land. He decides to transfer this land to his daughter, Ms. B, but the transfer document does not specify when Ms. B is supposed to take possession of the land. According to Section 19 of the Transfer of Property Act, 1882, since the time is not specified, the interest in the property is considered vested in Ms. B immediately upon transfer. This means that even if Mr. A passes away before Ms. B physically takes possession of the land, her right to the property is not affected; she still owns the land because her interest was vested at the time of the transfer.
Furthermore, if the transfer document had a clause stating that the income from the land should be accumulated until Ms. B takes possession, this does not mean her interest is not vested. The same would apply if there was a provision saying that if Ms. B did not survive to take possession, the land would go to another person, Mr. C. Despite these provisions, Ms. B's interest in the land is still considered vested upon the transfer from her father, Mr. A.