Chapter VI
OF THE RIGHTS AND LIABILITIES OF THE BENEFICIARY
Saving of rights of certain transferees
64. Nothing in section 63 entitles the beneficiary to any right in respect of property in the hands of-
(a) a transferee in good faith for consideration without having notice of the trust, either when the purchase-money was paid, or when the conveyance was executed, or
(b) a transferee for consideration from such a transferee.
A judgment-creditor of the trustee attaching and purchasing trust-property is not a transferee for consideration within the meaning of this section.
Nothing in section 63 applies to money, currency notes and negotiable instruments in the hands of a bona fide holder to whom they have passed in circulation, or shall be deemed to effect the
Contract Act, 1872, section 108, or the liability of a person to whom a debt or charge is transferred.
Copyright © 2019, Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs