The Transfer of Property Act talks about six types of property transfers:
- Sale
- Lease
- Mortgage
- Exchange
- Gift
- Actionable claim
How to do a transfer of property?
Feb 16, 2022 · Transfer of Property Act. Under the Indian legal system, properties are divided into two categories – movable and immovable. The Transfer of Property Act (ToPA), 1882, which came into force on July 1, 1882, deals with the aspects of transfer of properties between living beings. One of the oldest laws in the Indian legal system, the Transfer of Property Act is an …
How to transfer property with or without probate?
Jan 24, 2021 · Transfer of Property When Right of Disposal is Reserved The object of reserving the right of disposal of goods is to secure that the price is paid before the property passes to the buyer. For example, under the VPP (Value Pre Paid) system the ownership passes to the buyer when the price is paid against the delivery of goods, till then the seller retains control over the …
How does transfer of Property Act define exchange?
Jul 22, 2021 · The transfer of property Act's introduction states that it is connected to the transfer of property even by the properties act. The 1882 Transfer of Property Act establishes a standard and unambiguous legal framework for the transfer of immovable property between living people through the act of participants. Indian Contract Act, 1872 was considered as an inexhaustive …
What is transfer of Rights in the property?
Mar 23, 2020 · Transfer of property is defined to mean any act by which living persons convey property in present or in future to one or more living persons or to himself or to himself and one or more living persons. There term person includes companies, body corporate, an association of persons whether incorporated in India or not.
What is transfer of property under transfer of property Act?
“Transfer of property” defined. —In the following sections “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, 1[or to himself] and one or more other living persons; and “to transfer property” is to perform such act.
What is meaning of 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 properties 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 rule for the transfer of the property?
Rule: The ownership/property in goods is said to be transferred from the seller to the buyer once the goods are in deliverable state and the notice for the same is given by seller to the buyer. Till the time it's in non-deliverable state, then the ownership lies with the seller only.
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 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 is Section 54 of Transfer of Property Act?
54. “Sale” defined. —''Sale” is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.
Can a person transfer a property of which he is not the owner?
A conveyance deed is executed to transfer title from one person to another. Generally, an owner can transfer his property unless there is a legal restriction barring such transfer. Under the law, any person who owns a property and is competent to contract can transfer it in favour of another.Feb 13, 2011
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.
What is Section 106 of Transfer of Property Act?
106 is to terminate the relationship of lessor and lessee before the lessor sues for possession. He has no right of entry till the tenancy is disrupted. Further, the idea is that every lessee must have some reasonable notice before he is asked to vacate the premises.
What can be transferred under the Transfer of Property Act?
Any immovable property can be transferred under the Transfer of Property Act.
What are the modes of transfer of property?
According to the Transfer of Property Act, a property can be transferred through sale, exchange, gift, mortgage, lease and by creating an actionabl...
How many sections are there in the Transfer of Property Act?
There are 137 sections in the Transfer of Property Act.
What can't be transferred as part of a property transfer?
Military, Naval, and Air Force stipends, as well as civil prisoners' reimbursements and pension plans, are personal rights that cannot be transferr...
When does the Transfer of Property Act come into play?
The Act does not cover all transactions that take place in India. It solely applies to individuals (parties) and not to the operation of a court of...
What are the main characteristics of the Transfer of Property Act?
The transferor must be legally capable of contracting and able to transfer or try to get rid of a transferable property that is not his own.
What else is there regarding the Act?
The transaction must be made according to the Act's instructions. As a result, all required attestation, including registration must be completed.
What are the seller's responsibilities in a real estate transaction?
The seller has a responsibility to disclose to the buyer all substantial flaws in the property that is the subject of the transaction before the sa...
What is the meaning of "deliver" in the transfer of property?
Section 5 of the Transfer of Property Act, 1882 defines that, the property will be delivered by a living person to one or more other people in the present date or in future times or to himself only. The expression mentioned above “in present or in future” is deriving the meaning of the word ‘deliver’. There will be no transfer of future property. The transferee needn’t be a competent person like a transferor. A transferee can also be a minor, insane or child in a mother’s womb.
Who wrote the article on the transfer of property?
This article has been written by Chandan Kumar Pradhan, from KIIT School of Law, Odisha. This article talks about the various types of transfer of property under the Transfer of Property Act, 1882.
Can you gift a property to someone else?
However, you can never make a contract to gift a property which you are hoping to get in future.
What is the difference between a mortgage and a lease?
Mortgage– It’s a transfer of a limited interest during a property. Lease– A lease may be a transfer of a right to enjoy the immovable property for a particular time. Exchange– It’s the same as sale, but differ in consideration. Here the consideration is another thing not money. Gift– Here, there’s no consideration.
What does "transfer of property" mean?
Another meaning of transfer of property is “Conveying the property”. A fresh interest within the mind of the transferee, if new interest has not been created in mind of the transferee, the property can not be said to be conveyed, thus no transfer of property is finished.
What is Section 8 of the Transfer of Property Act?
It means that “A transfer of property passes to the transferee with all the interest which the transferee is then capable of using the property in his/her future within the all legal incident.”
What is the difference between Section 6 and Section 43?
Section 6 (a) and Section 43 have some problems with each other. Where Section 6 (a) deals with spes successionis and defined that which property are untransferable property and which are not, whereas Section 43 deals with the unauthorized transfer of property, in such transfer very big problem will arose on behalf of transferee because the transferee had no idea that the property is unauthorized and the transferee will take that property in good faith which is wrong.
What is the meaning of "transfer of property"?
In the following sections “ 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.
Why is the transfer of property important?
The transfer of property (or ownership) is important as it determines who owns the goods at a particular point during the contract. The term transfer of property implies transfer of ownership and not physical possession of goods. Table of Contents [ Hide]
When does property in goods pass to the buyer?
The property in goods does not pass to the buyer until he accepts the bill of exchange or pays the price of the goods. If he retains the goods without accepting the bill of exchange or payment of the price the property does not pass.
What is the object of reserving the right of disposal of goods?
The object of reserving the right of disposal of goods is to secure that the price is paid before the property passes to the buyer.#N#For example, under the VPP (Value Pre Paid) system the ownership passes to the buyer when the price is paid against the delivery of goods, till then the seller retains control over the goods.
When is ownership transferred?
Ownership is transferred when goods are put in a deliverable state. If the goods are not ready in the deliverable state at the time of making the contract of sale, the ownership of goods is transferred after the formation of the contract of sale when the following conditions are satisfied: a) The contract is for specific goods.
When goods are delivered to the buyer on approval basis, from the moment of approval or ‘on sale or return,’
When the goods are delivered to the buyer on approval basis, from the moment of approval or ‘on sale or return,’ or on other similar terms, the goods transferred to the ownership of the buyer.
What are the rules for the sale of goods?
These rules may be summarised as follow: 1. Transfer of Property in Specific Goods i.e. Ascertained Goods. Ownership is transferred at the time of making contract [Sec 20]
What is transfer of property?
Transfer of property is an act in which an individual transmits property with one or more individuals or to oneself and one or more other people. The act of transferring can be done now or in the future. A person can be an individual, a corporation, an organization, or a group of persons, and any type of property, particularly immovable property, ...
What was the second law commission?
The Second Law Commission revised the bill. Some of the laws were adapted from the Law of Conveyancing as well as the Property Act, 1881, which governs real estate in England. The legislation was mostly written to fit the Indian populace and is simple enough for non-professional judges to understand.
What is immovable property?
The immovable property offers land, advantages flowing from the land, objects linked to the land, and the General Clauses Act of 1897. Immovable property can be characterized as all property that is not standing wood, crop cultivation, or grass in the context of property transfer.
What was the Indian Contract Act of 1872?
Indian Contract Act, 1872 was considered as an inexhaustive regulation, the Transfer of Property Act, 1882 was an expansion of it. The transfer of property legislation is not a carbon duplicate of the English transfer of property laws created in response to the country's socio-economic realities. The 1882 Transfer of Property Act does not cover all ...
What are the principles of the Transfer of Property Act?
Justice, equity, and moral conscience are among the principles that underlie the 1882 Transfer of Property Act. Because the states of Bombay, Punjab, as well as Delhi had their property laws at the time of adoption, the legislation didn't apply to them at first.
What is transfer of property?
It refers to an act done by a living person conveying property to one or more person or by himself or by one or more living persons in the present or the future. Living people include a company, an association, or body of individuals whether incorporated or not.
How can property be transferred?
A property can be transferred from one person to another person by transferring rights, or interest, or ownership, or possession the party can satisfy either or all the ingredients. The transfer of property can be made in the two following ways: First: act of the parties;
What is an instrument in the transfer of property?
Instrument: According to the transfer of property Act, 1882 instrument refers to a non-testamentary instrument. It acts as evidence of the transfer of property between living parties. According to the legal dictionary, an instrument refers to a formal legal document.
What is notice in law?
Notice: Notice refers to knowledge of the fact. The person has knowledge of facts about various circumstances. According to the Transfer of Property Act, 1882 it prescribed two kinds of notices. Actual or implied notice: The person having actual knowledge about a particular fact.
What is a gift of immovable property?
Gift of immovable property: According to the transfer of property Act, 1882, gift refers to a transfer of movable or immovable property violently or without the consideration, by one person that is donee, to donor transfer is accepted by and on behalf of the done e.
What was the law in India before the Raj?
Before the advent of the British Raj system in India, Hindus, and Muslims were governed by their personal laws for the transfer of property . When Britishers were actively involved in the Indian Legal system they established informal Courts in which clear and concrete law was absent as compared to the law that was prevailing in England. Various High Court expressed the need for creating specific acts related to the transfer of property. As the principle of a good conscience, equity, and justice was confusing and created various uncertainties, the privy council noted the uncertainties and also told the authorities to take immediate action.
Who is the grandson of G?
A is the grandson of G and A owns three estates of which he wanted to transfer one estate to his grandpa D but he died two years ago the transfer won’t be held valid because the transfer of property should happen between two living persons.
What are the requirements for a transfer of property?
What are the essentials of the transfer of property? 1 The transfer of property must take place between two or more living persons 2 The property transferred must be transferable 3 The transfer must not be opposed to the nature of the interest affected thereby or for an unlawful object or consideration or to a person legally disqualified to be a transferee. 4 The transferor must be competent to contract and entitled to transfer property or authorized to dispose of transferable property which is not his own. 5 The transfer must be made in the mode prescribed by the Act. Thus all necessary attestation and registration must be complied with. 6 The transfer must not offend the rule against perpetuity 7 If on transfer interest is created in favor of an unborn child subject to the prior interest created by the same transfer, it must exhaust the whole of the remaining interest of the transferor. 8 If the transfer is conditional, the condition must not be illegal, impossible, immoral or opposed to public policy.
What is a Res commune?
Res communes which means things of which no one, in particular, is the owner, and which all men may use. Such things cannot be transferred by people. These are things which belong to nobody, for example, air, water, sunlight, etc. These things are incapable of being apportioned. Res extra commercium which means things throughout of commerce, such as property dedicated to a deity cannot be transferred. Under section 23 of The Indian Contract Act 1872, unlawful object and consideration is one which is forbidden by law or is of such nature that would defeat the provisions of law, is fraudulent, involves or implies injury to another person or his property and the Court regards it as immoral or opposed to public policy. [v]
What is transfer of property?
Transfer of property is defined to mean any act by which living persons convey property in present or in future to one or more living persons or to himself or to himself and one or more living persons. There term person includes companies, body corporate, an association of persons whether incorporated in India or not.
Can a public officer's salary be transferred?
A public office or the salary of a public officer whether before or after it has become payable cannot be transferred. Stipends allowed to the military, naval, air force and civil pensioners of Government as well as political pensions cannot be transferred.
What is inter vivo transfer?
The transfer of property must take place inter vivos, which means that the property must be transferred between two or more persons who are living. The transferor and transferee must be living entities on the date of transfer. Therefore there shall be an act of conveyance by some living person to constitute a transfer.
Can a transfer be executed in favor of an unborn child?
Under section 13 of the Act, a transfer cannot be executed directly in favor of an unborn child. One of the essential conditions of a valid transfer is that the transferee must be a living person. The interest of the unborn child must be preceded by a prior interest to one or more living persons, the unborn person must be in existence when the prior interest comes to an end and he must have the interest at the latest when he attains majority. [ix]
What is the meaning of Section 6?
Section 6 lays down 13 kinds of property which cannot be transferred, other than those enumerated below all kinds of property can be transferred. The chance of heir-apparent succeeding to an estate called as spes successionis. Such a chance is not property as contemplated by that Act.
What is a TPA sale?
A sale under TPA of immovable property is a transfer of ownership. A contract for the sale of immovable property is a mere agreement that a sale of the property is to take place in the future on terms settled between the parties
What is a registered conveyance?
There must be a registered conveyance in the case of i) tangible immovable property of the value of Rs. 100 and upwards; ii) a reversion or other intangible thing of any value. Generally, a sale takes place via a validly executed sale deed which is in writing, properly attested and registered.
Who is subject to the liabilities in the absence of a contract to the contrary?
In the absence of a contract to the contrary, the buyer and the seller of the immovable property respectively are subject to the liabilities, and have the rights, mentioned in the rules next following or such of them as are applicable to the property sold-
What is a contract for sale?
Contract for sale. A contract for the sale of immoveable property is a contract that a sale of such property shall take place on terms settled between the parties. It does not, of itself, create any interest in or charge on such property.
What does "not aware" mean?
(a) to disclose to the seller any fact as to nature or extent of the seller’s interest in the property of which the buyer is aware, but of which he has reason to believe that the seller is not aware, and which materially increases the value of such interest;
What does "ownership of property" mean?
(a) where the ownership of the property has passed to him, to the benefit of any improvement in, or increase in the value of, the property, and to the rents and profits thereof;
What happens if you sell two or more properties?
If the owner of two or more properties mortgages them to one person and then sells one or more of the properties to another person, the buyer is, in the absence of a contract to the contrary, entitled to have the mortgaged-debt satisfied out of the property or properties not sold to him, so far as the same will extend, but not so as to prejudice the rights of the mortgagee or persons claiming under him or of any another person who has for consideration acquired an interest in any of the properties.
What is non-transferable property?
A property otherwise transferable become non-transferable when the object or the consideration of the transfer is unlawful. Thus a house given on rent for the purpose of gambling or prostitution being immoral or opposed the public policy is invalid. Is fraudulent. It is against public policy. It is prohibited by law.
What is restricted interest?
Restricted interest [Section 6 (d)]: –. A person having right to a property can transfer the same either subject to a restriction or without restriction. Where property is transferred subject to a restriction the transferee is supposed not to act contrary to the restriction. Thus, if property is transferred to the transferee with a restriction ...
Can heir apparent be transferred?
The chance of an heir-apparent in succeeding of getting the property, the chance of inherited relationship upon the death of any relative, or any other mere possibility of this nature cannot be transferred.
What is a mere right to sue?
Mere right to sue [Section 6 (e)]: –. A mere right to sue cannot be transferred. The right to sue is personal to the party aggrieved. For example: – Damages for the breach of contract or tort, as it claims for past means profits for suing an agent for his accounts, for pre-emption, etc.
Can an easement be transferred without property?
An Easement cannot be transferred except the dominant heritage. For example: – Right to way, right to light, right to water, etc. These rights cannot be transferred without property which has its benefits. A person having right to a property can transfer the same either subject to a restriction or without restriction.
What does pension mean?
Pensions mean personal allowance or stipend not concerning any right of office but of special merit. Nature of interests [Section 6 (h)]: – In this, no transfer can be made in three conditions: –. Opposed to the nature of business: – there are things which from their very nature are not transferable.
Can a public office be transferred?
A public office is non-transferable property therefore cannot be transferred, nor can the salary of the public officer be transferred . Thus, prohibition is based on public policy as a public office is held for personal qualities.
Is there a presumption in law that the transfer was affected with the intent to defeat or delay creditors
There is no presumption in law that the transfer was affected with the intent to defeat or delay creditors. The existence of fraud will not be presumed by the court, it has to be proved. Therefore, when the transfer of property is challenged on grounds of fraud, the primary onus will be on the petitioner to show how he was connected to the property and how the fraud has taken place.
What is the privity of contract?
Privity of contract is followed which means that only the parties to the contract can sue. Hence, no third party can sue on the creditor’s behalf who is not a party to the suit. The suit is instituted by the creditor on the ground that the transfer is made to defeat or delay the creditors of the transferor.
What does it mean when a transferee is a bona fide transferee?
Bona fide transferee will mean that the transferee is unaware of or has no knowledge of the fake intentions of the transferor. Knowledge includes real and constructive notices. If Transferee has constructive notice of fraud, it will be presumed that he knew about the fraud.
Introduction
Kinds of Transfer
- Subsequent forms of transfer under the Act are: 1. Sale– It’s an out-and-out transfer of property And also the consideration is money. 2. Mortgage– It’s a transfer of a limited interest during a property. 3. Lease– A lease may be a transfer of a right to enjoy the immovable property for a particular time. 4. Exchange– It’s the same as sale, but differ in consideration. Here the consider…
Which Is Not amounting to The Transfer of Property?
- Another meaning of transfer of property is “Conveying the property”. A fresh interest within the mind of the transferee, if new interest has not been created in mind of the transferee, the property can not be said to be conveyed, thus no transfer of property is finished. 1. Partition- When two blood relatives like brother and brother dividing their property between themselves is called parti…
What Is Also transferred?
- Section 6– “ Any types of property which can be additionally transferred, except provided by this act or by any other law for nowadays in effect”. This section specifies different types of property which can not be transferred (Exception to Section 6)- 1. Spes Successionis [Section 6(a)]- “The possibility that an heir apparent is clearly unsuccessful in a certain situation, that the possibility i…
When A Person Competent to Transfer?
- Section 7of the Act provides that, “the person who is allowed to sign a contract is also allowed to transfer a property and then he will be allowed to enjoy the property wholly after it takes place. Legally permitted and determined for the time being in force.” These are some persons can be competent to transfer: Competent to contract, sound mind, the transferor must be entitled to tra…
Operation of Transfer
- Section 8of the Transfer of Property Act provides transfer of various types of property and their legal incidents. It means that “A transfer of property passes to the transferee with all the interest which the transferee is then capable of using the property in his/her future within the all legal incident.” In any situation, where the property is related to land or the property is rented, then the …
Transfer by An Unauthorised Person
- A person, who has no right to transfer any immovable property, cannot transfer that property. Transfer by such person will be called the transfer by an unauthorized person. Section 43– Transfer by unauthorized persons means, where someone fraudulently shows that he’s authorized for the transfer of certain immovable property and declares to transfer such property for consid…
Conclusion
- Section 6(a)and Section 43have some problems with each other. Where Section 6(a)deals with spes successionis and defined that which property are untransferable property and which are not, whereas Section 43deals with the unauthorized transfer of property, in such transfer very big problem will arose on behalf of transferee because the transferee had no idea that the property i…
Introduction
Background of The Transfer of Property Act, 1882
- Before the advent of the British Raj system in India, Hindus,and Muslims were governed by their personal laws for the transfer of property. When Britishers were actively involved in the Indian Legal system they established informal Courts in which clear and concrete law was absent as compared to the law that was prevailing in England. Various High Court expressed the need for …
Kinds of Transfer Under The Transfer of Property Act, 1882
- Sale of immovable property:There is a transfer of ownership from the buyer to the seller in exchange for the price. Delivery of tangible property from the seller to the buyer.
- Mortgage of immovable property:The property gets transferred from the buyer to the seller in the form of a mortgage where the immovable property is mortgaged to secure a loan. The mortgagor has to...
- Sale of immovable property:There is a transfer of ownership from the buyer to the seller in exchange for the price. Delivery of tangible property from the seller to the buyer.
- Mortgage of immovable property:The property gets transferred from the buyer to the seller in the form of a mortgage where the immovable property is mortgaged to secure a loan. The mortgagor has to...
- Leases of immovable property: The possession of the property is being transferred from one person to another person for a fixed price in this scenario there is no transfer of ownership.
- Exchange of immovable property:When two persons mutually decide to transfer immovable property it would be referred to as an exchange of property.
Features of Transfer of Property Act, 1882
- The preamble of the transfer of property Act lays down that it is related to the transfer of property by the act of the properties.
- The transfer of property act, 1882 provides a uniform and a clear law concerning the transfer of movable property from one living person to another living person by the act of parties.
- The Transfer of Property Act, 1882 is an extension of the Indian Contract Act,1872because th…
- The preamble of the transfer of property Act lays down that it is related to the transfer of property by the act of the properties.
- The transfer of property act, 1882 provides a uniform and a clear law concerning the transfer of movable property from one living person to another living person by the act of parties.
- The Transfer of Property Act, 1882 is an extension of the Indian Contract Act,1872because the contract act was recognized as an inexhaustive code.
- The transfer of property law is not a copy of the English transfer of property lawsthat was enacted based on socio-economic conditions of the country.
Conclusion
- The Act was introduced with an intention to create a comprehensive Act which provides information about the transfer in a very simple language during the time of introduction it was not complete and had various uncertainties. It has gone through various amendment processes and the act has proved it time and again about its effectiveness. In India, many more such acts like tr…
References
- https://blog.ipleaders.in/transfer-property-act/ https://www.lawctopus.com/academike/transferability-immovable-property/ https://shodhganga.inflibnet.ac.in/bitstream/10603/31643/13/13_chapter%205.pdf https://fklinknotes.wordpress.com/2019/01/17/objects-characteristics-features-of-transfer-of-pr…