1
Question
PRINCIPLE: A gift comprising both existing and future property is void as to the latter.
FACTS: 'X' has a house which is owned by him. He contracted to purchase a plot of land adjacent to the said house, but the sale (of the plot of land) in his favour is yet to be completed. He makes a gift of both the properties (house and land) to "Y".
Under the afore-mentioned circumstances, which of the following derivations is CORRECT?
PRINCIPLE: A gift comprising both existing and future property is void as to the latter.
FACTS: 'X' has a house which is owned by him. He contracted to purchase a plot of land adjacent to the said house, but the sale (of the plot of land) in his favour is yet to be completed. He makes a gift of both the properties (house and land) to "Y".
Under the afore-mentioned circumstances, which of the following derivations is CORRECT?
Open in App
Solution
The correct option is D Gift of house is valid, but the gift of the plot of land is void
Section 124 of transfer of property act says that gift comprising of existing property is valid, but that of future property is Void. Here in the question, X tend to gift his existing house along with future purchase of plot, to Y. Hence gifting house (existing property) is valid, but gifting plot (future purchase) is void. Hence the correct answer is D.
Section 124 of transfer of property act says that gift comprising of existing property is valid, but that of future property is Void. Here in the question, X tend to gift his existing house along with future purchase of plot, to Y. Hence gifting house (existing property) is valid, but gifting plot (future purchase) is void. Hence the correct answer is D.
Suggest Corrections
0
