An act to amend the law relating to the transfer of property by act of parties. Transfer of property act 1882 page 1 bare acts in india statutes and laws free download bare acts and case laws in india have been extensively discussed here, the laws pass by the parliament and its implementation in the courts are commonly discussed here in length. Condition making interest determinable on insolvency or attempted. Where, on a transfer of property, an interest therein is to accrue to a specified person if a specified uncertain event shall happen, and no time is mentioned for the occurrence of that event, the interest fails unless such event happens before, or at the same time as, the intermediate or precedent interest ceases to exist. Section of the act refers to transfer for benefit of unborn person. If you want to continue this discussion or have a follow up question, please post it on the network. Introduction the transfer of property act, 1882 hereinafter referred to as the act is the legislation which governs transfer of immovable property1 in india. 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. This act may be called the transfer of property act, 1882. Analysis of section 53a of transfer of property act, 1882.
The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. The transfer of property act, 1882 josh and mak international. This section deals with the mode of transfer in the case of gifts. Section 58a a mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability. Where the principal money secured is one hundred rupees or upwards, a mortgage other than a mortgage by deposit of title deeds, can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses. Jan 15, 2015 right, as when property is conveyed in future there is said to be a transfer of property no less than when it is conveyed in the present as stated under section 5 of the transfer of property act. Lis pendens is captured under section 52 of the transfer of property act, 1882 the act. Nov 14, 2014 assignment on the transfer of property act 1882, section 5 35 strength and weakness of the sections 1. Transfer how effected for the purpose of making a gift ofimmoveable property, the transfer must be effected by a registered instrumentsigned by or on behalf of the donor, and attested by at least two witnesses.
Transfer of property act, 1882 punjab judicial academy. Feb 25, 2016 the government has amended section 17a of the registration act, 1908 in the year 2001 in such a manner that the documents containing contracts to transfer for consideration of any immovable property for the purpose of section 53a of the transfer of property act, 1882 shall be registered if they have been executed on or after the commencement of. According to the act, transfer of property means an act by which a person conveys the property. Regulate transfer of property between living persons.
Section 53a of the transfer of property act, 1882 is to protect nondefaulting buyer of property. Whereas it is expedient to define and amend certain parts of the law relating to the transfer of property by act of parties. It contains specific provisions regarding what constitutes a transfer and the conditions attached to it. Transfer contingent on happening of specified uncertain event. It does not apply to transfers by the operation of law such as transfer of immovable property necessitated by order of court for insolvency or forfeiture among others. Transfer of property act, 1882, section 122, 123 unregistered gift deed gift deed in question was a conditional unregistered gift deed scribed in an unstamped paper as per s. The section essentially prohibits alienation of immovable property when a dispute relating to the same is pending in a competent court of law. Miscellaneous transfer of property is a concurrent subject entry 6 of list iii concurrent list of seventh schedule to constitution. Transfer of property act 1882 page 1 bare acts in india. English mortgage here the mortgagor transfer the property to the mortgagee and upon completion of the time gets the property back in his own name. Assignment on the transfer of property act 1882, section 5 35 strength and weakness of the sections 1. Enactment relating to contract to be taken as part of contract act chapter ii of transfers of property by act of parties a transfer of property,whether movweble or immovable 5.
Mar 03, 2015 very important video for cs and cma students, related to transfer of property act. In the following sections transfer of property means an act by which a living person conveys property, in present or in future, t o one or more other living persons, or to himself and one or more other living persons. The legislature has provided that the chance of an heirapparent cannot be a subject of conveyance in present or in future. Assignment on the transfer of property act 1882, section 5.
Section 106 duration of certain leases in absence of written contract or local usage. As the transfer of property means conveying of property, i. Section 126 of the transfer of property act gift deed is invalid without registration a gift deed or deed of gift is a deed that is executed and delivered in which the donor transfers title to the donee without any payment or considerations. Under the act of parties, transfer of property act topa exists, which gives us further divisions that is whether the property is movable or immovable, transfer for movable property and immovable property. Presumption of notice of registered instrument party having interest in property would be deemed to have notice from the date of registration of such deed. Very important video for cs and cma students, related to transfer of property act. Transfer of property act section 53a and some relevant provisions. Respondents herein were the plaintiffs in a suit filed for setting aside of a gift deed vide which the suit property had allegedly been transferred to the petitioners. It shall come into force on the first day of july, 1882 extent. Sections 54, 107 and 123 have been extended from 6th may, 1935, to all.
All about lease and gift under transfer of property act, 1882 by. Sec 123 of the transfer of property act makes a reference to delivery. It proceeds on the maxim, expression unius exclusion alterius in that every property except those specified in the section may be transferred. Law relating to the transfer of property by act of parties. The person insisting nontransferability must prove the existence of some law or custom which restricts the right of transfer. Nathulal versus phoolchand 1969 10 tmi 67 supreme court section 53 a of the transfer of property act, 1882 reads as follows with highlights added by the. Transfer of property act, 1882came into force on 1st july, 1882. Scope of the section this section deals with what may be the subject of transfer under the act. Introduction to transfer of property act, 1882 notes to help. Extent 1 it extends2 in the first instance to the whole of india except 3 the territories which, immediately before the 1st november, 1956, were. Analysis of provisions of section 53a of the transfer of property act, 1882 the transfer of property act, 1982 came into force on the 1st july, 1882.
Even in the definition of conditional gifts also, no mention of delivery of possession. It means an act by which a living person conveys property in present or in future to one or more living persons, or to himself, or. Rights of a lessee to retain possession of premises. Unless there is some legal restriction preventing the transfer, the owner of the property may transfer it. Lease under transfer of property act, 1882 deals with section 105 to section 117.
Transfer of property means an act by which a living person conveys property to one or more other living persons. Preamble whereas it is expedient to define and amend certain parts of the law relating to the transfer of property by act of parties. The transfer of property act 1882 is an indian legislation which regulates the transfer of property in india. Gifts and delivery of possession new law college pune. This section is an attempt to import into india what used to be known in england, the rule of double possibilities.
The rule is that a person disposing of property to another shall not fetter the free disposition of that property in. The government has amended section 17a of the registration act, 1908 in the year 2001 in such a manner that the documents containing contracts to transfer for consideration of any immovable property for the purpose of section 53a of the transfer of property act, 1882 shall be registered if they have been executed on or after the commencement of. As per section 6 e of the transfer of property act. Full text containing the act, transfer of property act, 1882, with all the sections, schedules, short title, enactment date, and footnotes. Section 123 of transfer of property act archives scc blog. All documents produced for the inspection for the inspection of the court are known as documentary evidence. Section 105 of the act defines the term lease, lessor, lessee, premium and rent. The provision of section 3 of the transfer of property act, 1882 does not provide. Actionable claim as defined in the transfer of property act, 1882 is a property. Transfer of property act, 1882 pdf download citehr. Transfer of a property can be made in two ways, firstly by an act of parties and secondly by law. The transfer of property act, 1882 hereinafter, the act is a civil legislation of immense importance owing to the vast number of property related transactions taking place throughout the country. Section 108 rights and liabilities of lessor and lessee.
Transfer of property act, 1882 not amounting to transfer of property. When an interest in vested in a person, it becomes his property and is under sec 6 of the transfer of property act transferable by him even before he has obtained possession. Lease of an immovable property is defined and detailed under chapter v of the transfer of property act, 1882 hereinafter referred to as the act. Section 110 exclusion of day on which term commences. Transfer of property act 1882 section 123 judgments. Aug 10, 20 section 58a a mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability. For the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and. Transfer of property act unborn child notes to help. According to section 123, transfer of immovable property through gift will be. When two persons mutually transfer the ownership of one thing for the ownership of another, neither thing or both things being money only, the transaction is called an exchange. Provisions of section 53a of transfer of property act, 1882. Transfer of property act, 1882 bare acts law library advocatekhoj. Right of a lessee to retain possession of premises subsequent to determination of lease by efflux of time mitali yadav and sahil asthana a.
Complete the code of contract law for immovable property. It is based on the principle that the person purchasing an immovable property from the judgment debtor. A uniform legislation was the need of the hour considering this factor, and this act was drafted to serve the selfsame purpose. Sep 16, 2016 transfer of property act, 1882 not amounting to transfer of property. Aug 27, 2010 the transfer of property where this act applies has to be under the t p act, 1882 only and the muslim law of transfer of property can not override the statute. The doctrine of lis pendens esstentially aims at i avoiding endless litigation, ii protecting either party to the litigation against the act of the other, iii avoiding abuse of legal process. The provision of section 3 of the transfer of property act. The transfer of property act specifies that property of any kind may be transferred, except as otherwise provided by the act or by any other law in force. The said section has been extracted below, for ease of reference. Types of mortgage under section 58 of the transfer of. According to section 6 of the transfer of property act, the property of any kind may be transferred. Transfer of property act 1882 section 123 citation 40373. Commencement it shall come into force on the first day of july, 1882.