ExplanationII Of Transfers of Property by Acts of PartiesVerified
Where, on a transfer of property, an therein is created in favour of a person without specifying the time when it is to take effect, or in terms specifying that it is to take effect forthwith or on the happening of an event which must happen, such is , unless a contrary intention appears from the terms of the transfer.
A is not defeated by the death of the transferee before he obtains possession.
Explanation.-- An intention that an shall not be is not to be inferred merely from a provision whereby the enjoyment thereof is postponed, or whereby a prior in the same property is given or reserved to some other person, or whereby income arising from the property is directed to be accumulated until the time of enjoyment arrives, or from a provision that if a particular event shall happen the shall pass to another person.
