- What are the essential features of Transfer of Property Act?
- What property may be transferred and what property Cannot be transferred?
- What is difference between movable and immovable property?
- What is vested interest in transfer of property?
- How do I transfer ownership of immovable property?
- Does Transfer of Property Act apply to movable property?
- Which of the following is the time limit given under Section 17 of the Transfer of Property Act 1882?
- How can father transfer his property to his son?
- What is immovable property under Transfer of Property Act?
- What are the modes of transfer of property?
- What is meant by transfer of property in goods?
- Which property Cannot be transferred?
- What are the 3 types of property?
- How can I transfer property from one person to another in India?
- How many sections are there in Transfer of Property Act?
- Who can transfer an immovable property?
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.
The transfer must not be opposed to the nature of the interest effected thereby..
What property may be transferred and what property Cannot be transferred?
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 difference between movable and immovable property?
Property ownership has its own classification: movable and immovable property. Movable property refers to personal property, which is either consumable or nonconsumable. On the other hand, immovable property refers to roads, constructions and buildings. They are referred to as immovable because they adhere to the soil.
What is vested interest in transfer of property?
Concept of Vested Interest. Section 19 of the Transfer of Property Act, 1882 states about Vested Interest. It is an interest which is created in favour of a person where time is not specified or a condition of the happening of a specified certain event.
How do I transfer ownership of immovable property?
Property ownership can be transferred in two ways:• Voluntary Transfer. • Involuntary Transfer. … Sale Deed. This is the most popular method of property transfer in India. … Gift Deed. … Relinquishment Deed or Release Deed. … Partition Deed or Settlement Deed. … Inheritance or WILL Deed.
Does Transfer of Property Act apply to movable property?
Bhawani Das and Ors[i], the court held that section 3(25) of the General Clauses Act which defines immovable property can be applied to Transfer of Property Act 1882. … are all immovable property. The term movable property has not been defined in the Transfer of Property Act 1882.
Which of the following is the time limit given under Section 17 of the Transfer of Property Act 1882?
eighteen years(b) a period of eighteen years from the date of transfer, such direction shall, save as hereinafter provided, be void to the extent to which the period during which the accumulation is directed exceeds the longer of the aforesaid periods, and at the end of such last-mentioned period the property and the income thereof …
How can father transfer his property to his son?
Your father can transfer the property either by making a registered family arrangement to both of you as per desire. By this she cannot raise any dispute at any stage. Alternately he can transfer the property by executing a registered gift deed to both of you again as per his desire.
What is immovable property under Transfer of Property Act?
“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.
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.
What is meant by transfer of property in goods?
Page 1. Transfer of property in goods. Meaning of Passing of Property/Transfer of Property. Passing of property implies transfer of ownership and not the physical possession of goods. For example,where a principal sends goods to his agent,he merely transfers the physical possession and not the ownership of goods.
Which property Cannot be transferred?
Transfer of Property Act, 1882 An interest in property restricted in its enjoyment to the owner personally cannot be transferred by him. A right to future maintenance, in whatsoever manner arising, secured or determined, cannot be transferred. A mere right to sue cannot be transferred.
What are the 3 types of property?
In economics and political economy, there are three broad forms of property: private property, public property, and collective property (also called cooperative property).
How can I transfer property from one person to another in India?
Options can vary from a simple sale or a gift deed to a relinquishment deed. The owner of a property can give up his/her rights to another person through different methods, based on the situation. The most common way is through a sale deed where a payment is made for ownership transfer.
How many sections are there in Transfer of Property Act?
137 sectionsThe Transfer of Property Act was introduced on February 17, 1882. It came into effect on July 1, 1882. The Act consists of eight chapters and 137 sections.
Who can transfer an immovable property?
Under section 7 of TOPA, the individual must be competent. He/she must be of legal age and mentally stable. He/she must be the owner of the title of the immovable property or should be authorised to transfer the property. The person must not be legally disqualified as a transferee.