Supreme Court held that the words in present or in future in Section 5 of the Transfer of Property Act qualify the word 'conveys' and not the word 'property'.

Transfer of any non-existent or future property operates only as a contract which may be performed in future and can be enforced as soon as the property comes into existence. Partition is not the transfer of property. Where the condition restricts the transferee from transferring the property to strangers, i.e. outside the family of the transferor, the condition is merely a partial restraint which is valid and enforceable.