Essentials of a valid transfer
- The property must be transferable. The question of transferability of property has been dealt with under Sections 6 of the Act. ...
- Transferor Must Be Competent. ...
- Transferor Must Be Entitled To Transfer. ...
- Transferee Must Also Be Competent. ...
- Completion of necessary formalities. ...
- The transfer must be between two or more living persons. ...
- The property must be transferable. ...
- Persons competent to transfer. ...
- Methods of Transfer. ...
- Must not have any conditions Restraining Alienation. ...
- Rule against perpetuity.
What are the essentials of a valid transfer of property?
Aug 31, 2021 · Essentials of a valid transfer – Transfer of Property Act, 1882 Essentials of a valid transfer under Transfer of Property Act, 1882. Introduction :. The word ‘property includes all those things on which the right of ownership can be expanded and it also... Meaning of transfer of property :. It was ...
What are the conditions for a transfer to be valid?
Essentials of valid transfer essentials of valid transfer introduction the property must be transferable transferor must be competent transfer or must have Sign inRegister Sign inRegister Home My Library Courses You don't have any courses yet. Books You don't have any books yet. Studylists You don't have any Studylists yet. Recent Documents
What are the rules for the transfer of property?
ESSENTIALS OF A VALID TRANSFER Leave a Comment / Blogs, Property Law, Study Materials / By Jaspal Rana Transfer should take place between living persons The transfer of property should take place between 2 or more persons. Both the transferor and the transferee must be living entities on the date of transfer. The Property must be transferable
What are the objectives of transfer of property?
May 28, 2021 · ESSENTIALS OF A VALID TRANSFER The transfer of property must take place between two or more living persons: The property transferred must be transferable The transfer must not be opposed to the nature of the interest affected thereby or for an unlawful object or …
What are the essential conditions of a valid transfer?
There must be a representation by the transferor that he has authority to transfer the immovable property. The representation should be either fraudulent or erroneous. The transferee must act on the representation in good faith. The transfer should be done for a consideration.Dec 14, 2008
What is transfer and what are the essentials of a valid transfer?
The transfer of property must take place inter vivos, meaning property must be transferred between two or more persons who are living. Both the transferor and transferee must be living entities on the date of transfer. There should be an act of conveyance by some living person to constitute a transfer.May 1, 2020
What constitutes a transfer of property?
According to the Act, 'transfer of property' means an act by which a person conveys the property to one or more persons, or himself and one or more other persons. The act of transfer may be done in the present or for the future.
What is transfer in transfer of property Act?
Section 5 of the Transfer of Property Act, 1882 defines the term transfer of property. According to this section, transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and other living persons.Oct 16, 2019
What Cannot be transferred?
All interest in property restricted in its employment to the owner personally cannot be transferred by him. Even a right to future maintenance, in whatever manner arising, secured or determined cannot be transferred. A mere right to sue cannot be transferred.Feb 19, 2021
What are the essentials of a valid transfer of property to an unborn person?
Two essential conditions: Property cannot be directly transferred to the unborn child, so a prior interest must be created in favour of a living person. The absolute interest must be transferred in favour of unborn child.
What is not include in transfer of property?
Immovable Property-Not defined under Transfer of Property Act. As per Section 3, immovable property does not include standing timber, growing crop and grass. Standing timbers are tree fit for use for building or repairing houses. This is an exception to the general rule that growing tree are immovable property.
What properties Cannot be transferred under Transfer of Property Act?
Stipends related to Military, Naval, Air Forces, Civil Prisoners, government pensions, etc are personal rights and cannot be transferred. General rule of Transfer of Property is that property of any kind can be transferred from one person to another.
How many sections are there in transfer of property?
One of the 137 sections covered under the transfer of Property Act 1882 is Section 52, which discusses 'lis pendens' or property pending suit in any court of law.Nov 13, 2021
What are the 4 property rights?
The main legal property rights are the right of possession, the right of control, the right of exclusion, the right to derive income, and the right of disposition. There are exceptions to these rights, and property owners have obligations as well as rights.Sep 10, 2020
What types of property can be transferred?
The Act contemplates the following kinds of transfers: (1) Sale, (2) Mortgage, (3) Lease (4) Exchange, and (5) Gift. Sale is an out-and-out transfer of property. In mortgage, there is a transfer of limited interest in property.
What is the difference between a transferee and a transferor?
Unlike a transferor, the transferee is not required to have attained the age of majority or to be a person of a sound mind.
What is the transferee position?
The position of a transferee is different from that of a transferor under The Transfer of Property Act,1882. Unlike a transferor, the transferee is not required to have attained the age of majority or to be a person of a sound mind. A transferee should not be disqualified under any law in force and should be in existence on the date of the transfer. A transferee can be a minor or an insane person or even a child in the mother’s womb provided the child is born alive.
What is the property with regard to which the right of easement exists?
The property with regard to which the right of easement exists is called the dominant heritage and the property upon which the right is exercised is known as servient heritage. Section 6 (c) of the Act states that a right of easement apart from the dominant heritage is not transferable.
What is soundness of mind?
Soundness of Mind: Soundness of mind refers to a mental condition in which a person is aware of the nature of the contract and understands its implication upon his actions. Unsoundness of mind can be of two types. It can be idiocy or lunacy which is permanent and can not be cured but not permanent.
What is Section 6 F?
Public office and salary of public officer: Section 6 (f) prohibits the transfer of a public office and the salary of a person holding such an office. A person holds a public office by virtue of his personal qualities and the pecuniary gain attached thereto is his beneficial interest.
What is the transfer of property act?
The Transfer of Property Act,1882 is a piece of legislation that governs the transfer of property between parties by act of the parties themselves. Section 5 of the Act defines the term ‘transfer of property.’. A bare perusal of the provision makes it abundantly clear that transfer of property refers to a transfer of property inter vivos by means ...
What is the competency of a person to contract?
The competency of a person to contract has been laid down in Section 11 of the Indian Contract Act,1872. It enlists the attainment of the age of majority, presence of a sound mind and the condition of not being disqualified to contract under any law as the prerequisites for competency.
What does "transfer of property" mean?
Thereof, what is the meaning of transfer of property? Transfer of Property means an act by which a living person can conveys property, in present or in future, to one or more other living persons, or to himself, or to himself and one or more or other living persons, and to transfer property is to perform such act.
Can property be transferred from one party to another?
The General rule related to Transfer of Property is that property of any kind may be transferred and this property can be movable or immovable. Property of any kind can be transferred from one party to another. Lets further look into the exceptions for transferring the property. Additionally, what can be transferred?
When a condition becomes void, the transfer becomes void?
Section 25 of the Act states that when the condition imposed on the transfer becomes impossible to be performed or unlawful or immoral , the interest accruing in the transfer of the property which is dependent on such condition fails. Therefore when the condition becomes void the transfer becomes void too.
What is a minor in a transfer?
A minor i.e. person who has not attained 18 years of age is not competent to be a transferor but he is not disqualified to be a transferee. In case of Mallikarjun v. Mareppa 2008, a person brought a property in the name of his minor son and later sold it again while the son was still a minor.
What is the definition of inter vivos?
The transfer of property must take place between two or more living persons. The transfer of property must take place inter vivos, meaning property must be transferred between two or more persons who are living. Both the transferor and transferee must be living entities on the date of transfer. There should be an act of conveyance by some living ...
What is the term for the chance of heir apparent succeeding to an estate?
The property that cannot be transferred are enumerated below: The chance of heir- apparent succeeding to an estate called as spes successionis, or chance of a relation obtaining the legacy on the death of a kinsman, or any other probability of similar nature is not a property and therefore not transferable.
What happens if a transfer is given effect at a place where the Act is in force?
If the transfer is given effect at a place where the Act is in force, the rights and liabilities of the parties will be determined by the Act and the location of the property will be irrelevant.
What is the meaning of Section 5 of the Transfer of Property Act?
Section 5 of the Transfer of Property Act defines “transfer of property.”. It states that “ transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, and one or more other living persons; and to transfer property is to perform such act”.
What is the transfer of property act?
The Transfer of Property Act 1882, is a legislation that came into force on 1st July 1882 and it regulates the transfer of property in India. It has incorporated specific provisions relating to valid transfers and conditions attached to it.
What are the two types of property that can be transferred under the Transfer of Property Act?
There are two broad categories of property that can be transferred under the Transfer of Property Act. They are movable and immovable properties. Various modes of Transfer of Property have been introducing under Transfer of Property Act to transfer such properties. They are:
What happens when a conditional transfer is unlawful?
Section 25 of the Act states that when the condition imposed on the transfer becomes unlawful or immoral, the transfer of the property dependent on such condition also fails.
What is the exchange of money?
The exchange of money will be just for money or it will be a thing for a thing, i.e., either money for money, or thing for thing. Gifts: A gift is transfer of movable and immovable property made voluntarily without any consideration, by one person to another and accepted.
What is inter vivo transfer?
A transfer of property must take place inter vivos, i.e., the property must be transferred between two or more living persons. Both the transferor and transferee must be living on the date of the transfer. There should be an act of conveyance by some living person to constitute a transfer as mentioned in the case of Harish Chandra v.
What does "transfer of property" mean?
It states that: “Transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, and one or more other living persons; and to transfer property is to perform such act”. The Act does not define the word ‘property’, but it has a broad meaning ...
What is a living person?
A “living person” includes companies, an association of persons whether incorporated in India or not, or a body corporate. The property transferred can either be movable or immovable. The objective of the Act is to regulate the law relating to the transfer of properties. A transfer of property is a contract, so it is important to fulfill all ...
When does an unborn person have to be a living person?
His interest must be backed by prior interest to one or more living persons, and the unborn person must be a living person when the prior interest comes to an end. He must have the interest latest by the time when he attains majority.
Essentials of A Valid Transfer
Transfer in Favour of An Unborn Child
- The Act states that one of the essentials of a valid transfer is that the transferee must be a living person. The interest in favour of an unborn child must be preceded by a prior interest in favour of one or more living persons. The unborn child must be in existence when the prior interest reaches termination and he must hold the interest in the property latest by when he attains the age of ma…
Adherence to The Rule Against Perpetuity
- Section 14 of the Act deals with the rule against perpetuity . The term perpetuity refers to continuity, everlastingness, infinity. The rule states that a transfer of property can not create an interest which takes effect after the life-time of one or more persons living at the date of such transfer, and the minority of some person who will be in existence at the expiration of that perio…
Conditional Transfers Not to Be Illegal, Immoral Or Opposed to Public Policy
- In case of a conditional transfer of property, the condition so imposed shall not be any of the following: 1. Impossible to perform: An impossible condition is one which can not be performed. The impossibility of performance fails the transfer. In Rajendra Lal v Mrinalini Dassi, the condition imposed was that the legatee excavated a tank when the testator did it in his lifetime. Since the …
Conclusion
- The Transfer of Property Act, 1882 enlists the aforementioned conditions as the essentials of a valid transfer. The transfer may be rendered void for the non fulfillment of any of these conditions. REFERENCES Dr. R.K. Sinha, The Transfer of Property Act 62 (Central Law Agency, 30-D/1, Moti Lal Nehru Road ,Allahabad-2, 18th Edn., 2017). Nagendra v. Rabindra, AIR 1926 Cal 490. Wahid A…