- What are the modes of transfer of property?
- Who is an ostensible owner?
- What do you mean by transfer of property in the goods?
- How a person can transfer property to himself?
- Who is competent to transfer the property?
- Does Transfer of Property Act apply to movable property?
- What is Operation of transfer?
- Can a right to sue be transferred?
- Who can transfer of property?
- How many sections are there in Transfer of Property Act?
- What is transfer of property act in India?
- What are the essential features of Transfer of Property Act?
- Can future property be transferred?
- Is a sale of future property valid?
- What is transfer of property in business law?
- What is doctrine of part performance?
- What is actionable claim under Transfer of Property Act?
- What property may not be transferred?
What are the modes of transfer of property?
There are various modes of transferring ownership of property: permanently by 1) relinquishment 2) sale 3) gift; and temporarily by way of 4) mortgage 5) lease and, 6) leave and license agreement..
Who is an ostensible owner?
Ostensible means something that is not real or true. Therefore ostensible owner means a person who is not the real owner of the property he represents the real owner in transfers made to the third party. Such a representation is based on the consent of the real owner. Such consent may be express or implied.
What do you mean by transfer of property in the goods?
‘Property in Goods’ which means the ownership of goods, is different from ‘ possession of goods’ which means the physical custody or control of the goods. The transfer of property in the goods from the seller to the buyer is the essence of a contract of sale.
How a person can transfer property to himself?
The word “living person” includes corporations and other association of person. A transfer can be made by a person to himself, as for instance when a person vests property in trust and himself becomes the whole trustee.
Who is competent to transfer the property?
Every person competent to contract and entitled to transferable property, or authorised to dispose of transferable property not his own, is competent to transfer such property either wholly or in part, and either absolutely or conditionally, in the circumstances, to the extent and in the manner, allowed and prescribed …
Does Transfer of Property Act apply to movable property?
Rules relating to transfer of property under the Act. 1. It is important to draw a line between immovable and movable property. Only an immovable property and in exceptional cases the movable property can be legally transferred under the provisions of this Act.
What is Operation of transfer?
Unless a different intention is expressed or necessarily implied, a transfer of property passes forthwith to the transferee all the interest which the transferor is then capable of passing in the property and in the legal incidents thereof.
Can a right to sue be transferred?
A mere right to sue, as for instance, in respect of damages for breach of contract, or for tort, cannot be transferred. The object of the prohibition is to prevent gambling in litigation. Moreover, a right to sue is personal to the party aggrieved.
Who can transfer of property?
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, or to himself and one or more other living persons; and “to transfer property” is to perform such act.
How many sections are there in Transfer of Property Act?
—The Chapters and sections of this Act which relate to contracts shall be taken as part of the Indian Contract Act, 1872 (9 of 1872). 1[And section 54, paragraphs 2 and 3, and sections 59, 107 and 123 shall be read as supplemental to the Indian Registration Act, 2[1908 (16 of 1908)].] 5. “Transfer of property” defined.
What is transfer of property act in India?
The Transfer of Property Act 1882 is an Indian legislation which regulates the transfer of property in India. … 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.
What are the essential features of Transfer of Property Act?
The consideration or object of the transfer must be lawful. No transfer can be made for an unlawful object or consideration as provided in Section 23 of the Indian Contract Act, 1872. 6. The transfer must not be opposed to the nature of the interest effected thereby.
Can future property be transferred?
Every person, who is competent to contract, is competent to transfer property, which can be transferred in whole or in part. … The right may be either absolute or conditional, and the property may be movable or immovable, present or future.
Is a sale of future property valid?
What may be objects of sale? Note: Sale of future goods is valid only as an executory contract to be fulfilled by the acquisition & delivery of goods specified. b. No rescission is allowed where the thing is legally in the possession of a 3rd person who did not acted in bad faith.
What is transfer of property in business law?
Transfer of Ownership Law And Its Legal Definition By Rahul Hingmire. Ownership involves the absolute rights and legitimate claim to an object. Transfer of ownership is the means by which the ownership of a property is transferred from one hand to another.
What is doctrine of part performance?
Doctrine of Part Performance is an equitable doctrine and it is incorporated to prevent fraud and from taking illegal advantage on account of non-registration of the document. This Doctrine is based on the maxim, Equity look at as it is done which ought to have been done.
What is actionable claim under Transfer of Property Act?
Actionable claim means a debt or a claim on which action can be started in a Court of law for comfort or relief. The civil Courts recognized as giving the grounds for relief whether such claims are conditional, accruing and other. The actionable claim is defined under section 3 of the Transfer of Property Act, 1882.
What property may not be transferred?
Stipends related to Military, Naval, Air Forces, Civil Prisoners, government pensions, etc are personal rights and cannot be transferred.