Question

What is a contingent interest in the context of property

Q: Answer-What is a contingent interest in the context of property transfer according to the Transfer of Prope...

Section 21. Contingent interest Where, on a transfer of property, an interest therein is created in favour of a person to take effect only on the happening of a specified uncertain event, or if a specified uncertain event shall not happen, such person thereby acquires a contingent interest in the property. Such interest becomes a vested interest, in the former case, on the happening of the event, in the latter, when the happening of the event becomes impossible.

transfer according to the Transfer of Property Act?

A An interest dependent on the consent of the transferee

B An interest that becomes immediately vested upon transfer

C An interest created based on the fulfilment of a specified uncertain event

D An interest that cannot be transferred to another party

E An interest that automatically expires after a certain period

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What is a contingent interest in the context of property

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