https://www.taxtmi.com/caselaws?id=293345 A contingent interest created under a family settlement was treated as transferable property rather than a mere possibility or bare right to sue. The settlement gave the children a vested interest in the income and a contingent interest in the corpus until the future event occurred, and that contingent interest was recognised as a distinct proprietary interest capable of assignment. Because it was not within the exclusion for a mere chance of succession or a personal claim, its transfer did not offend Section 6 of the Transfer of Property Act, 1882. The stated defence accordingly failed. en-us Mon, 28 Oct 1929 00:00:00 +0530 Fri, 05 Feb 2021 16:19:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293345 A contingent interest created under a family settlement was treated as transferable property rather than a mere possibility or bare right to sue. The settlement gave the children a vested interest in the income and a contingent interest in the corpus until the future event occurred, and that contingent interest was recognised as a distinct proprietary interest capable of assignment. Because it was not within the exclusion for a mere chance of succession or a personal claim, its transfer did not offend Section 6 of the Transfer of Property Act, 1882. The stated defence accordingly failed. Case-Laws Indian Laws Mon, 28 Oct 1929 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293345