The Transfer of Property Act 1882 is an Indian legislation which regulates the transfer of. Sumeet Malik. PROPERTY LAW MANUAL (Hard Bound)|format= requires|url= (help) (2014 ed.). Create a book Download as PDF Printable version. Additional Physical Format: Print version: India. Mulla on the Transfer of property act, 1882. Tripathi, 1966 (OCoLC)11736055. Material Type.
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( July 2013) Transfer of Property Act 1882 An Act to amend the law relating to the Transfer of Property by act of parties. Territorial extent Union of Date enacted 17 February 1882 Date commenced 01 July 1882 Legislative history Introduced by 1882 Status: In force The Transfer of Property Act 1882 is an Indian legislation which regulates the in India. It contains specific provisions regarding what constitutes a transfer and the conditions attached to it. It came into force on 1 July 1882. 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.
The person may include an individual, company or association or body of individuals, and any kind of property may be transferred, including the transfer of immovable property. Contents. Interpretation of 'property' Property is broadly classified into the following categories:. Immovable Property (excluding standing timber, growing crops, and grass). Movable Property The Interpretation of the Act, says ' does not includes standing timber, growing crops or grass'. Section 3(26), The General Clauses Act, 1897, defines, ' immovable property' shall include land, benefits to arise out of the land, and things attached to the earth, or permanently fastened to anything attached to the earth.
Also, The Registration Act,1908, 2(6) 'immovable property' includes land, buildings, hereditary allowances, rights to ways, lights, ferries, fisheries or any other benefit to arise out of the land, and things attached to the earth or permanently fastened to anything which is attached to the earth, but not standing timber, growing crops nor grass. A transfer of property passes forthwith to the transferee all the interest which the transferor is then capable of passing in the property unless a different intention is expressed or implied. According to Section 43 of the Transfer of Property Act 1882, in case a person either fraudulently or erroneously represents that he is authorized to transfer certain immovable property and does some acts to transfer such property for, then such a transfer will continue to operate in future. It will operate on any interest which the transferor may acquire in such property.
This will be at the option of the transferee and can be done during the time during which the contract of transfer exists. As per this rule, the rights of the bona fide transferee, who has no notice of the earlier transfer or of the option, are protected. This rule embodies a rule of i.e. A person who makes a representation cannot later on go against it. Every person, who is, is competent to transfer property, which can be transferred in whole or in part. He should be entitled to the transferable property, or authorized to dispose of transferable property which is not his own.
The right may be either absolute or conditional, and the property may be movable or immovable, present or future. Such a transfer can be made orally unless a transfer in writing is specifically required under any law. According to Section 6 of the Transfer of Property Act, the property of any kind may be transferred. The person insisting non-transferability must prove the existence of some law or custom which restricts the right of transfer.
Unless there is some legal restriction preventing the transfer, the owner of the property may transfer it. However, in some cases, there may be a transfer of property by an unauthorized person who subsequently acquires an interest in such property.
In case the property is transferred subject to the condition which absolutely restrains the transferee from parting with or disposing of his interest in the property, the condition is void. The only exception is in the case of a lease where the condition is for the benefit of the lessor or those claiming under him. Generally, only the person having interest in the property is authorized to transfer his interest in the property and can pass on the proper title to any other person. The rights of the transferees will not be adversely affected, provided: they acted in good faith; the property was acquired for a consideration, and the transferees had acted without notice of the defect in the title of the transferor.
It should be noted that these conditions must be satisfied: 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. The transferor should subsequently acquire some interest in the property he had agreed to transfer.
The transferee may have the option to acquire the interest which the transferor subsequently acquires. Related legislation There are 18 other statutes that are primarily concerned with Property Law, or significantly matter to Property Law, as listed below:. Trusts Act, 1882. Specific Relief Act, 1963.
Easements Act, 1882. Registration Act, 1908. Stamp Act, 1899. U.P. Stamp Act, 2008. Limitation Act, 1963.
General Clauses Act, 1897. Evidence Act, 1872. Succession Act, 1925. Partition Act, 1893. Presidency-Towns Insolvency Act, 1909.
Provincial Insolvency Act, 1920. Recovery of Debts Due to Banks and Financial Institutions Act, 1993. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest fact, 2002. Contract Act, 1872. Sale of Goods Act, 1930. Negotiable Instruments Act, 1881. Enemy Property Act.
References.
THE TRANSFER OF PROPERTY ACT, 1882 Contents PREAMBLE CHAPTER I PRELIMINARY 1. Short title Commencement Extent 2. Repeal of Acts Saving of certain enactments, incidents, rights, liabilities, etc. Interpretation-clause 4.
Enactments relating to contracts be taken as part of Contract Act CHAPTER II OF TRANSFERS OF PROPERTY BY ACT OF PARTIES (A) Transfer of Property, whether moveable or immoveable 5. “Transfer of property” defined 6. What may be transferred 7. Persons competent to transfer 8. Operation of transfer 9. Oral transfer 10. Condition restraining alienation 11.
Restriction repugnant to interest created 12. Condition making interest determinable on insolvency or attempted alienation 13. Transfer for benefit of unborn person 14. Rule against perpetuity 15. Transfer to class some of whom come under sections 13 and 14 16.
Transfer to take effect on failure of prior interest 17. Direction for accumulation 18. Transfer in perpetuity for benefit of public 19. Vested interest 20. When unborn person acquires vested interest on transfer for his benefit 21.
Contingent interest 22. Transfer to members of a class who attain a particular age 23. Transfer contingent on happening of specified uncertain event 24. Transfer to such of certain persons as survive at some period not specified 25. Conditional transfer 26. Fulfilment of condition precedent 27. Conditional transfer to one person coupled with transfer to another on failure of prior disposition 28.
Ulterior transfer conditional on happening or not happening of specified event 29. Fulfilment of condition subsequent 30. Prior disposition not affected by invalidity of ulterior disposition 31. Condition that transfer shall cease to have effect in case specified uncertain event happens or does not happen 32. Such condition must not be invalid 33. Transfer conditional on performance of Act, no time being specified for performance 34.
Transfer conditional on performance of Act, time being specified Election 35. Election when necessary Apportionment 36. Apportionment of periodical payments on determination of interest of person entitled 37.
Apportionment of benefit of obligation on severance (B) Transfer of lmmoveable Property 38. Transfer by person authorized only under certain circumstances to transfer 39. Transfer where third person is entitled to maintenance 40. Burden of obligation imposing restriction on use of land, or of obligation annexed to ownership but not amounting to interest or easement 41. Transfer by ostensible owner 42. Transfer by person having authority to revoke former transfer 43.
Transfer by unauthorized person who subsequently acquires interest in property transferred 44. Transfer by one co-owner 45.
Joint transfer for consideration 46. Transfer for consideration by persons having distinct interests 47. Transfer by co-owners of share in common property 48. Priority of rights created by transfer 49. Transferee”s right under policy 50.
Rent bonafide paid to holder under defective title 51. Improvements made by bonafide holders under defective titles 52. Transfer of property pending suit relating thereto 53. Fraudulent transfer 53-A Part performance CHAPTER III OF SALES OF IMMOVEABLE PROPERTY 54. “Sale” defined Sale how made Contract for sale 55.
Rights and liabilities of buyer and seller 56. Marshalling by subsequent purchaser Discharge of Incumbrances on Sale 57.
Provision by Court for incumbrance and sale freed therefrom CHAPTER IV OF MORTGAGES OF IMMOVEABLE PROPRIETY AND CHARGES 58. “Mortgage,” “mortgagor,” “mortgagee”;” “mortgage-money and “mortgage-deed” defined Simple mortgage.
Mortgage by conditional sale Usufructuary mortgage Mortgage by deposit of title-deeds Anomalous mortgage 59. Mortgage when to be by assurance 59.A References to mortgagors and mortgagees to include persons deriving title from them Rights and Liabilities of Mortgagor 60. Right of mortgagor to redeem Redemption of portion of mortgage property 60 A Obligation to transfer to third party instead of re-transference to mortgagor 60 B.Right to inspection and production of documents 61 Right to redeem separately or simultaneously 62. Right of usufructuary mortgagor to recover possession 63 Accession to mortgaged property Accession acquired in virtue of transferred ownership 63-A Improvements to mortgaged property 64.
Renewal of mortgaged lease 65. Implied contracts by mortgagor 65-A Mortgagor”s power to lease 66. Waste by mortgagor in possession Rights and Liabilities of Mortgagee 67.
Right to foreclosure or sale 67-A. Mortgagee when bound to bring one suit on several mortgagees 68. Right to sue for mortgage-money 69. Power of &ale when valid 69 A. Appointment of receiver 70. Accession to mortgaged property 71.
Renewal of mortgaged lease – 72. Rights of mortgagee in possession 73. Right-to proceeds of revenue-sate or compensation on acquisition 74. Repealed 75. Repealed 76 Liabilities of mortgagee in possession Loss occasioned by his default. Receipts in lieu of interest Priority 78.
Postponement of prior mortgagee 79 Mortgage to secure uncertain amount when maximum is expressed 80. Repealed Marshalling and Contribution 81. Marshalling securities 82. Contribution to mortgage-debt Deposit in Court 83. Power to deposit in Court money due on mortgage Right to money deposited by mortgagor 84. Cessation of interest 85. Parties to Suits for foreclosure sale and redemption 86 to 90 Repealed Redemption 91.
Who may sue for redemption 92. Subrogation 93. Prohibition of tacking 94. Rights of mesne mortgagee 95. Right of redeeming cu-mortgagor to expenses 96. Mortgage by deposit of title-deeds 97.
Repealed Anomalous Mortgages 98. Rights and liabilities of parties to anomalous mortgages 99. Repealed Charges 100.
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No merger in case of subsequent encumbrance Notice and Tender 102. Service or tender on or to agent 103. Notice, etc., to or by person incompetent to contract 104. Power to make rules CHAPTER V OF LEASES OF IMMOVEABLE PROPERTY 105.
“Lease” defined “Lessor,” “lessee,” “Premium” defined 106. Duration of certain leases in absence of written contract or local usage 107. Leases how made 108. Rights and-liabilities of lessor and lessee 109. Rights of lessor”s transferee 110.
Exclusion of day on which term commences Duration of lease for a year Option to determine lease 111. Determination of lease 112.
Waiver of forfeiture 113. Waiver of notice to quit 114 Relief against forfeiture for non-payment of rent 114-A.Relief against forfeiture in certain other cases 115. Effect of surrender and forfeiture on under-leases 116.
Effect of holding over 117. Exemption of leases for agricultural purposes CHAPTER VI OF EXCHANGES 118.
“Exchange” defined 119. Right of party deprived of thing received in exchange 120. Rights and liabilities of parties 121.
Exchange of money CHAPTER VII OF GIFTS 122. “Gift” defined Acceptance when to be made 123. Transfer how effected 124. Gift of existing and future property 125. Gift to several of whom one does not accept 126.
When gift may be suspended or revoked 127. Onerous gifts. Onerous gift to disqualified person 128. Universal donee 129. Saving of donations mortis causa and Muslim law CHAPTER VIII OF TRANSFERS OF ACTIONABLE CLAIMS 130.
Transfer of actionable claim 130-A Transfer of policy of marine insurance 131. Notice to be in writing, signed 132. Liability of transferee of actionable claim 133.
Warranty of solvency of debtor 134. Mortgaged debt 135. Assignment of rights under policy of insurance against fire 135-A. Assignment of rights under policy of marine insurance 136. Incapacity of officers connected with Courts of Justice 137. Saving of negotiable instruments, etc.
THE SCHEDULE The Transfer of Property Act, 1882 ACT NO. IV OF 1882 17th February 1882 An Act to amend the Law relating to the Transfer of Property by Act of Parties. Whereas it is expedient to define and amend certain parts of the law relating to the Transfer of Property by Act of parties; It is hereby enacted as follows: – CHAPTER 1 PRELIMINARY 1. Short title, Commencement, Extent.
This Act may be called the Transfer of Property Act, 1882. It shall come into force on the first day of July. This Act or any Part thereof may by notification in the official Gazette be extended to the whole or any part of a Province by the Provincial Government.