405. Interests determinable on alienation generally.

405.     Interests determinable on alienation generally.

Where the event of bankruptcy is not specifically referred to, a gift over of a life estate, in the event of the grantee alienating or charging his interest, may be so expressed as to effect a forfeiture of the life interest, or bring it to an end, on his bankruptcy1, or as to take effect only if income is in the trustee's hands at the time2, or as not to be effective on his bankruptcy3. However, a mere restriction against alienation in a gift or contract will