Wednesday, October 28, 2020

What is Transfer? What are the effects of Transfer ?

Must read

NHPC Recruitment 2020- Deadline- 28 September 2020

NHPC Recruitment 2020- Deadline- 28 September 2020   NHPC Limited is recruiting Trainee Officers in (Law) and other fields. Name of the Post for Legal-  Additional General Manager...

Chennai Metro Rail Limited (CMRL) vacancy for Additional General Manager (Legal)- (Deadline- 18 September 2020)

Chennai Metro Rail Limited (CMRL) vacancy for Additional General Manager (Legal)- (Deadline- 18 September 2020)   Chennai Metro Rail Limited (CMRL) Recruitment for 2020 for law...

National Seeds Corporation Recruitment 2020, Apply Today

National Seeds Corporation Recruitment 2020, Apply Today   National Seeds Corporation (NSC) Recruitment for 2020. (The last date for applying is 31-08-2020) Out of 220 Trainee Vacancies,...

National Housing Bank Recruitment 2020- Freshers and Degree Holders can apply by 28th August 2020

National Housing Bank Recruitment 2020- Freshers and Degree Holder can apply by 28th August 2020 This job opportunity is open for both, freshers and experienced...

Transfer of Property Act

What is a “Transfer of Property”?

As per section 5 of the trasfer of property act, “transfre of property” means an act through which a  living person conveys his 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.

Living person explanation – includes a company or an association or body of individuals, whether incorporated or not, but nothing herein contained shall affect any law for the time being in force relating to transfer of property to or by companies, association or bodies of individuals.

Effect of Transfer –

In its wider sense, the word ‘transfer’ is defined in reference to the word ‘convey’. It includes any form of assurance inter vivos. The transferor of teh property must have an interest in the property.

In the case of movables generally, a ‘transfer’ of property as defined in section 5 of the act, does not involve the execution of the instrument of transfer or conveyence.

In the case of an immovable property, a transfer may be effected by delivery of possession, in which the value of property is less than Rs. 100/-.

The transfer of property act contemplates the transfer including sale, mortgage, gist, exchange and lease.

Certain acts do not come under the category of Transfer-

  1. Charge
  2. Easement
  3. Compromise
  4. Deed of appointment
  5. Partition
  6. Family arrangement

 

Conclusion –

The act of transfer of property is an act which involves the conveyance if rights or some of the rights in the property from one person to the other. For the transfer to come under the correct definition of transfer, the property must be in existence at the date of transfer and the consequences of such transfer may take effect in the present or in the future. The transfer of property must be between living persons. From one living person to the other living person.

 

 

 

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

NHPC Recruitment 2020- Deadline- 28 September 2020

NHPC Recruitment 2020- Deadline- 28 September 2020   NHPC Limited is recruiting Trainee Officers in (Law) and other fields. Name of the Post for Legal-  Additional General Manager...

Chennai Metro Rail Limited (CMRL) vacancy for Additional General Manager (Legal)- (Deadline- 18 September 2020)

Chennai Metro Rail Limited (CMRL) vacancy for Additional General Manager (Legal)- (Deadline- 18 September 2020)   Chennai Metro Rail Limited (CMRL) Recruitment for 2020 for law...

National Seeds Corporation Recruitment 2020, Apply Today

National Seeds Corporation Recruitment 2020, Apply Today   National Seeds Corporation (NSC) Recruitment for 2020. (The last date for applying is 31-08-2020) Out of 220 Trainee Vacancies,...

National Housing Bank Recruitment 2020- Freshers and Degree Holders can apply by 28th August 2020

National Housing Bank Recruitment 2020- Freshers and Degree Holder can apply by 28th August 2020 This job opportunity is open for both, freshers and experienced...

SEBI Recruitment 2020 for Grade A Officers (Apply by October 31st, 2020)

SEBI Recruitment 2020 for Grade A Officers (Apply by October 31st, 2020) The Securities and Exchange Board of India (SEBI) invites eligible candidates to apply...
error: Content is protected !!