What is the meaning Transfer to take effect on failure of prior interest? Section 16 of Transfer of Property Act, 1882
16. Where, by reason of any of the rules contained in sections 13 and 14, an interest created for the benefit of a person or of a class of persons fails in regard to such person or the whole of such class, any interest created in the same transaction and intended to take effect after or upon failure of such prior interest also fails.
Section 2 - Repeal of Acts - Saving of certain enactments, incidents, rights, liabilities, etc
Section 3 - Interpretation clause
CHAPTER II OF TRANSFERS OF PROPERTY BY ACT OF PARTIES
A - Transfer of property, whether movable or immovable
Section 5 - Transfer of property defined
Section 6 - What may be transferred
Section 7 - Persons competent to transfer
Section 8 - Operation of transfer
Section 10 - Condition restraining alienation
Section 11 - Restriction repugnant to interest created
Section 12 - Condition making interest determinable on insolvency or attempted alienation
Section 13 - Transfer for benefit of unborn person
Section 14 - Rule against perpetuity
Section 15 - Transfer to class some of whom come under sections 13 and 14
Section 16 - Transfer to take effect on failure of prior interest
Section 17 - Direction for accumulation
Section 18 - Transfer in perpetuity for benefit of public
Section 20 - When unborn person acquires vested interest on transfer for his benefit