Indian Succession Act,1925
Act No : 39
Section :
Rule against perpetuity.
114. Rule against perpetuity.-No bequest is valid whereby thevesting of the thing bequeathed may be delayed beyond the life-time ofone or more persons living at the testator's death and the minority ofsome person who shall be in existence at the expiration of thatperiod, and to whom, if he attains full age, the thing bequeathed isto belong. Illustrations (i) A fund is bequeathed to A for his life and after his death toB for his life; and after B's death to such of the sons of B as shallfirst attain the age of 25. A and B survive the testator. Here the sonof B who shall first attain the age of 25 may be a son born after thedeath of the testator; such son may not attain 25 until more than 18years have elapsed from the death of the longer liver of A and B; andthe vesting of the fund may thus be delayed beyond the lifetime of Aand B and the minority of the sons of B. The bequest after B's deathis void. (ii) A fund is bequeathed to A for his life, and after his deathto B for his life, and after B's death to such of B's sons as shallfirst attain the age of 25. B dies in the lifetime of the testator,leaving one or more sons. In this92case the sons of B are persons living at the time of the testator'sdecease, and the time when either of them will attain 25 necessarilyfalls within his own lifetime. The bequest is valid. (iii) A fund is bequeathed to A for his life, and after his deathto B for his life, with a direction that after B's death it shall bedivided amongst such of B's children as shall attain the age of 18,but that, if no child of B shall attain that age, the fund shall go toC. Here the time for the division of the fund must arrive at thelatest at the expiration of 18 years from the death of B, a personliving at the testator's decease. All the bequests are valid. (iv) A fund is bequeathed to trustees for the benefit of thetestator's daughters, with a direction that, if any of them marryunder age, her share of the fund shall be settled so as to devolveafter her death upon such of her children as shall attain the age of18. Any daughter of the testator to whom the direction applies must bein existence at his decease, and any portion of the fund which mayeventually be settled as directed must vest not later than 18 yearsfrom the death of the daughters whose share it was. All theseprovisions are valid.
Read All Comments
