LawgistThe Transfer of Property Act
12Condition making interest determinable on insolvency or attempted alienation
Where property is transferred subject to a condition or limitation making any interest therein, reserved or given to or for the benefit of any person, to cease on his becoming insolvent or endeavouring to transfer or dispose of the same, such condition or limitation is void.
Nothing in this section applies to a condition in a lease for the benefit of the lessor or those claiming under him.
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(A) Transfer of property, whether moveable or immoveable
- 5 “Transfer of property” defined
- 6 What may be transferred
- 7 Persons competent to transfer
- 8 Operation of transfer
- 9 Oral transfer
- 10 Condition restraining alienation
- 11 Restriction repugnant to interest cleated
- 12 Condition making interest determinable on insolvency or attempted alienation
- 13 Transfer for benefit of unborn person
- 14 Rule against, perpetuity
- 15 Transfer to class some of whom come under sect ions 13 and 14
- 16 Transfer to take effect on failure of prior interest
- 17 Direction for accumulation
- 18 Transfer in perpetuity for benefit of public
- 19 Vested interest
- 20 When unborn person acquires vested interest on transfer for his benef it
- 21 Contingent interest
- 22 Transfer to members of a class who attain a particular age
- 23 Transfer contingent on happening of specified uncertain event
- 24 Transfer to such of certain persons as survive at some period not specified
- 25 Conditional transfer
- 26 Fulfilment of condition precedent
- 27 Conditional transfer to one person coupled with transfer to another on failure of prior disposition
- 28 Ulterior transfer conditional on happening or not happening of specified event
- 29 Fulfilment of condition subsequent
- 30 Prior disposition not affected by invalidity of ulterior disposition
- 31 Condition that transfer shall cease to have effect in case specified uncertain event happens or does not happen
- 32 Such condition must not be invalid
- 33 Transfer conditional on performance of act, no time being specified for performance
- 34 Transfer conditional on performance of act, time being specified
