Transfer by person having authority to revoke former transfer,- Where a person transfers any immovable property, reserving power to revoke the transfer, and subsequently transfers the property for consideration to another transferee, such transfer operates in favour of such transferee subject to any condition attached to the exercise of the power as a revocation of the former transfer to the extent of the power.
C dies during the life of B.
B marries with the consent of C and D. But if no time is specified for the performance of the act, then, if its performance is by the fraud of a person interested in the non-fulfilment of the condition rendered impossible or indefinitely postponed, the condition shall as against him be deemed to have been fulfilled.
C elects to retain the farm. Illustration a A, owing a moiety, and B and C, each a quarter share, of mauza Sultanpur, exchange an eighth share of that mauza for a quarter share of mauza.
B cuts down the wood. The rule in the first paragraph of this section applies whether the transferor does or does not believe that which he professes to transfer to be his own.
In case of disability, the election shall be postponed until the disability ceases, or until the election is made by some competent authority.
Power to deposit in Court money due on mortgage Section PROVIDED that- 1 the instrument has been registered and its registration completed in the manner prescribed by the Indian Registration Act, 16 ofand the rules made thereunder, 2 the instrument of memorandum has been duly entered or filed, as the case may be, in books kept under section 51 of that Act, and 3 the particulars regarding the transaction to which the instrument relates have been correctly entered in the indexes kept under section 55 of that Act.
The right may be either absolute or conditional, and the property may be movable or immovable, present or future. Judiciary Aspirants Law students Students who have opted law as optional subject Anyone who wants to know about Transfer of Property Act Illustration A lets a field to B at a rent of Rs.
The representation should be either fraudulent or erroneous. His representative must out of the Rs. A by an instrument of gift professes to transfer it to B, giving by the same instrument Rs. The transferee must act on the representation in good faith.
Transfer for consideration by persons having distinct interests. Such incidents include, where the property is land, the easements annexed thereto, the rents and profits thereof accruing after the transfer, and all things attached to the earth; and, where the property is machinery attached to the earth, the moveable parts thereof; and, where the property is a house, the easements annexed thereto, the rent thereof accruing after the transfer, and the locks, keys, bars, doors, windows, and all other things provided for permanent use therewith; and, where the property is a debt or other actionable claim, the securities therefor except where they are also for other debts or claims not transferred to the transfereebut not arrears of interest accrued before the transfer; and, where the property is money or other property yielding income, the interest or income thereof accruing after the transfer takes effect.
But in either case there shall also be paid into court such additional amount as the Court considers will be sufficient to meet the contingency of further costs, expenses and interest, and any other contingency, except depreciation of investment, not exceeding one-tenth part of the original amount to be paid in, unless the Court for special reasons which it shall record thinks fit to require a large additional amount.
The transfer to D takes effect. This will be at the option of the transferee and can be done during the time during which the contract of transfer exists. E, having notice of this, must pay Rs. Right to redeem separately or simultaneously Transfer for benefit of unborn person, Where, on a transfer of property, an interest therein is created for the benefit of a person not in existence at the date of the transfer, subject to a prior interest created by the same transfer, the interest created for the benefit of such person shall not take effect, unless it extends to the whole of the remaining interest of the transferor in the property.
Illustration A contracts to sell Sultanpur to B. E had agreed as a term of his lease to perform this work for A. But in either case there shall also be paid into court such additional amount as the Court considers will be sufficient to meet the contingency of further costs, expenses and interest, and any other contingency, except depreciation of investment, not exceeding one-tenth part of the original amount to be paid in, unless the Court for special reasons which it shall record thinks fit to require a large additional amount.
Try out our Premium Member services: B cuts down the wood. B may enforce the contract against C to the same extent as against A. Receipts in lieu of interest Priority Extent —1[It extends2 in the first instance to the whole of India except 3[the territories which, immediately before the 1st November,were comprised in Part B States or in the States of] Bombay, Punjab and Delhi.
He forfeits the gift of Rs. Renewal of mortgaged lease Section Contribution to mortgage-debt Section Transfer in perpetuity for benefit of public. Right to proceeds of revenue sale or compensation on acquisition Section. THE TRANSFER OF PROPERTY ACT, THE SCHEDULE (A) STATUTES Year and Chapter Subject Extent of repeal 27 Hen.
VIII c. 10 Uses The Whole. 13 Eliz., c. 5 Fraudulent conveyances The Whole. 27 Eliz., c. 4 Fraudulent conveyances The Whole. 4 Wm and. 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 and one or more other living persons; and “to transfer property” is to perform such act.
msrlawbooks© Transfer of property >>>>> Page 7 CONTENTS Chapters Pages Introduction Syllabus Questions Bank Table of Cases 1. Preliminary Topics 1.
Transfer of Property 9 2. Attestation 3. Immovable Property 4. Constructive Notice 5.
Spes Successions 6. Actionable Claims 7. Exchange 8. Charge 2. Transfer of 1. Housing, Land And Property Laws In Force THE TRANSFER OF PROPERTY ACT () CONTENTS CHAPTER I PRELIMINARY Sections 1.
Extent. 2. Saving of certain enactments, incidents, rights, liabilities, etc. rows · An Act to amend the law relating to the transfer of property by act of parties WHEREAS. Where, on a transfer of property, an interest therein is created subject to a condition that the person taking it shall perform a certain act, but no time is specified for the performance of the act, the condition is broken when he renders impossible, permanently or for an indefinite period, the performance of the act.The transfer of property act 1882