Q: What do you mean by rule against perpetuity?

A:        According section 14 of the 'The Transfer of Property Act, 1882' (TPA) is rightly called 'Rule against perpetuity', No, Transfer of property can operate to create an interest which is to take effect after the lifetime of one or more persons living at the date of such transfer, and the minority of some person who shall be in existence at the expiration of that period and to whom, if he attains full age, the interest created is to belong.

This FAQ is prepared by Sadia Saman Advocate