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Kiran   12 October 2018

Rule against Perpetuity

Kindly let me know about Sec 13 and 14 of Transfer of Property Act and Sec 113 of Indian Succession Act on the Rule against Perpetuity and how it affects the rights of an unborn person where no absolute rights were vested in the Settlement Deed to the unborn person?.. Settlement Deed was executed by my great grandfather in favour of his son, that is my grandfather. It created a family arrangement/trust in favour of the deity. The terms of the Settlement Deed were the eldest male heir would succeed as a trustee having limited interest. The eldest male heir to my grandfather was my father who was single but major at the time of execution of the Deed. As the terms of the Settlement say "eldest male son", I believe the limited right was vested in my father. I am the unborn person born many years after the Deed was executed. Now, does my father's right constitute "Prior interest"? If yes, can the limited right of trustee devolve upon me after my father's lifetime? As absolute right was not vested to the unborn person (me) in the Deed, how could this affect my right in future?


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