Which one of the following sections of Transfer or Property Act, 1882 deals with "Rule Against Perpetuity"?

Solution(By Examveda Team)

Rule Against Perpetuity:
The Rule Against Perpetuity is a legal principle that prevents property from being tied up indefinitely beyond a certain period. This rule ensures that property remains transferable and does not remain restricted for an unreasonably long duration, thereby promoting free circulation and transferability of property rights.

Correct Answer: Section 14
The Rule Against Perpetuity is provided under Section 14 of the Transfer of Property Act, 1882. This section states that no property can be transferred in a way that delays absolute ownership beyond the lifetime of one or more persons living at the time of the transfer, plus a further period of eighteen years (representing the possible minority of an unborn beneficiary).

Explanation:
   1.   The purpose of this rule is to prevent property from being indefinitely controlled by past generations, ensuring that future generations have access to and can deal with property freely.
   2.   A transfer that violates this rule becomes void concerning the portion that exceeds the permissible period.
   3.   The maximum permissible period for which property can be tied up includes the lifetime of existing persons plus 18 years (accounting for a potential minor inheritor).
   4.   The rule applies to non-testamentary transfers (gifts, settlements, etc.) but does not affect wills or charitable endowments.

Thus, the correct answer is Option B: Section 14.