244 DRAFT BILL AND SHORT STATEMENT 



Economic Holdings to be Held in Severalty. 



15. (1) An economic holding shall be held absolutely and 

 in severalty by the person entitled to it for the time being. 



(2) This section is subject to the proviso to section 10. 



Illustrations. 



(a) A, who is a member of a Hindu coparcenary, acquires 

 an economic holding ; such holding cannot in any circum- 

 stances become coparcenary property. 



(b) Where a female succeeds to an economic holding, she 

 takes an absolute interest in it. 



Partition, Partial Transfer and Transfer to two or more 



Persons Prohibited. 



16. (1) Every instrument and every agreement which 

 purports, or which if carried into effect would operate — 



(a) to effect any partition of an economic holding or of an 

 interest therein, or 



(b) to transfer or dispose of a part only of such holding or 

 of an interest in such part, or 



(c) to transfer an economic holding or a part thereof, or 

 an interest in an economic holding or in a part thereof, to 

 or for the benefit of two or more persons whether jointly, 

 severally or in common, 



shall, to that extent, and save as provided in sub-section (2), 

 be void. 



(2) Nothing in this section shall apply to a lease of part 

 of an economic holding for a term not exceeding one year : 

 provided that any instrument or agreement whereby the 

 lessor agrees to renew the lease or in any manner to lease 

 part of the holding for any further period, shall be void. 



Illustrations. 



(a) A sale or devise of one part of an economic holding 

 to one person and of another part to another, or a mortgage 



