64: Saving of rights of certain transferees

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 affect the Contract Act, 1872(IX of 1872), section 108, or the liability of a person to whom a debt or charge is transferred.

Effective date: 1882-03-01

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