Section 15: Transfer to class some of whom come under sections 13 and 14
Transfer of Property Act • Official Statutory Text & Practice Guide
Statutory Regulation
Legal Standard
Competent Court / Tribunal
Act 1882
Transfer of Property Act • Official Statutory Text & Practice Guide
Legal Commentary & Landmark Judgments: Section 15
Section 15 provides that where a transfer creates an interest for the benefit of a class of persons with regard to some of whom such interest fails by reason of the rules in Sections 13 and 14, such interest fails in regard to those persons only and not in regard to the whole class.
In family trusts for 'all grandchildren', ensure the vesting age is capped at 18; even if a remote unborn grandchild fails under Section 14, Section 15 preserves the trust for living and eligible grandchildren.