Section Text
a) A conveys land to B without consideration and declares no trust of any part. It cannot, consistently with the circumstances under which the transfer is made, be inferred that A intended to transfer the beneficial interest in the land. B holds the land for the benefit of A.
(b) A conveys to s two fields, Y and Z, and declares a trust of Y, but says nothing about .It cannot, consistently with the circumstances under which the transfer is made, be inferred that A intended to transfer the beneficial interest in Z.B holds Z for the benefit of A.
(c) A transfers certain stock belonging to him into the joint names of himself and B. It cannot, consistently with the circumstances under which the transfer is made, be inferred that A intended to transfer the beneficial interest in the stock during his life. A and B hold the stock for the benefit of A (d) A makes a gift of certain land to his wife B. She takes the beneficial in crest in the land free from any trust in favor of A, for it may be inferred from the circumstances that the gift was for B's benefit. NOTE: [Omitted by the Benami Transactions (Prohibition) Act, 1988, w.e.f. 19-5-1988.]