Vested and contingent interest ppt

The most confused topic in transfer of property act, 1881.
it includes case laws and also examples of vested and contingent interest.

1. By – D.PRIYANKA

2. What is an interest? Interest means having an ownership in property or having a kind of right to do something with or on the property. Example: lease

3. Vested interest- Section 19 of transfer of property act,1882 Postponement of enjoyment Prior interest Directed to be accumulated until the time of enjoyment arrives

4. It takes place in 2 stages Vested interest - 1. Immediate transfer Acquire possession but right to enjoyment is postponed

5. Characteristics: Vested interest is both transferrable and heritable right. If the transferee dies before actual possession or enjoyment, it passes on to his heirs. Interest is not defeated by the death of the transferee before actual possession is attained by him. Interest is not defeated even if prior interest in the same property is given to someone else. Cases: 1. Ramaswami Naidu v.s M.S. Velappan 2. Sundar Bibi vs Rajendra Narayan

6. Contingent interest: Section 21 of transfer of property act, 1882. An interest created in favour of a person shall come into effect after certain event occurs. It is transferable but not heritable. It cannot take effect if the transferee dies before the condition is met. Subject matter is 'specified uncertain event'

7. Cases: Leake v. Robinson Difference: When an  interest is vested , the transfer  is  complete but when the  interest is contingent , the transfer depends upon a condition precedent

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