Question
When is an interest in property considered "vested"
under the transfer of property rules?Solution
Transfer of Property Act: Section 19. Vested interest—Where, on a transfer of property, an interest therein is created in favour of a person without specifying the time when it is to take effect, or in terms specifying that it is to take effect forthwith or on the happening of an event which must happen, such interest is vested, unless a contrary intention appears from the terms of the transfer.
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