Immovable Property excluding standing timber, growing crops, and grass Movable Property The Interpretation of the Act, says " Immovable property does not includes standing timber, growing crops or grass". Share money of corporation, service, or any other thing of value may also amount, consideration.
Transfer to take effect on failure of prior interest,- Where, by reason of any of the rules contained in sections 13 and 14, an interest created for the benefit of a person or of a class of persons fails in regard to such person or the whole of such class, any interest created in the same transaction and intended to take effect after or upon failure of such prior interest also fails.
Mortgage to secure uncertain amount when maximum is expressed Section Renewal of mortgaged lease It is a transfer of property without consideration from one person being donor to another person being donee.
Prior disposition not affected by invalidity of ulterior disposition Section Priority of rights created by The transfer of property act 1882.
Conditional transfer to one person coupled with transfer to another on failure of prior disposition Section Transfer for consideration by persons having distinct interests Section Right to foreclosure or sale Section Illustration A, the owner of an eight-anna share, and B and C, each the owner of a four-anna share, in mauza Sultanpur, transfer a two-anna share in the mauza to D, without specifying from which of their several shares the transfer is made.
If such separate possession or enjoyment is not possible, the accession must be delivered with the property; the mortgagor being liable, in the case of an acquisition necessary to preserve the property from destruction, forfeiture or sale, or made with his assent, to pay the proper cost thereof, as an addition to the principal money, 1[with interest at the same rate as is payable on the principal, or, where no such rate is fixed, at the rate of nine per cent per annum].
B is deemed to have fulfilled the condition. Transfer by unauthorised person who subsequently acquired interest in property transferred Section The benefit of the contract mentioned in this rule shall be annexed to, and shall go with, the interest of the transferee as such, and may be enforced by every person in whom that interest is for the whole or any part thereof from time to time vested.
Equity will not construe an imperfect gift as a declaration of trust. A person taking no benefit directly under a transaction, but deriving a benefit under it indirectly, need not elect.
Transfer to a class, some of whom come under sections 13 and 14,- If, on a transfer of property, an interest therein is created for the benefit of a class of persons with regard to some of whom such interest fails by reason of any of the rules contained in sections 13 and 14, such interest fails in regard to those persons only and not in regard to the whole class.
In each case the dispositions are subject to the rules contained in sections 10, 12, 21, 22, 23, 24, 25 and Exception —Where, under a transfer of property, a person becomes entitled to an interest therein upon attaining a particular age, and the transferor also gives to him absolutely the income to arise from such interest before he reaches that age, or directs the income or so much thereof as may be necessary to be applied for his benefit, such interest is not contingent.
Accession increase to property: Accession acquired in virtue of transferred ownership Section Contingent interest Section This right is transferred for certain time.
PROVIDED that- 1 the instrument has been registered and its registration completed in the manner prescribed by the Indian Registration Act, 16 ofand the rules made thereunder, 2 the instrument of memorandum has been duly entered or filed, as the case may be, in books kept under section 51 of that Act, and 3 the particulars regarding the transaction to which the instrument relates have been correctly entered in the indexes kept under section 55 of that Act.
Transfer by ostensible owner,- Where, with the consent, express or implied, of the persons interested in immovable property, a person is the ostensible owner of such property and transfers the same for consideration, the transfer shall not be voidable on the ground that the transferor was not authorised to make it: Right of usufructuary mortgagor to recover possession Section And any State Government may from time to time, by notification in the Official Gazette, exempt, either retrospectively or prospectively, any part of the territories administered by such State Government from all or any of the following provisions, namely,- Section 54, paragraph 2 and sections 3, 59, and The disposition in favour of C takes effect.
Condition making interest determinable on insolvency or attempted alienation,- Where property is transferred subject to a condition or limitation making any interest therein, reserved or given to or for the benefit of any person, to cease on his becoming insolvent or endeavouring to transfer or dispose of the same, such condition or limitation is void.
Enactments relating to contracts to be taken as part of Contract Act and supplemental to the Registration Act. B is entitled to the farm during her life as if no condition had been inserted.
Ulterior transfer conditional on happening or not happening of specified event Section Implied contracts by mortgagor 65A. Transfer to take effect on failure of prior interest. When unborn person acquires vested interest on transfer for his benefit,- Where, on a transfer of property, an interest therein is created for the benefit of a person not then living, he acquires upon his birth, unless a contrary intention appears from the terms of the transfer, a vested interest, although he may not be entitled to the enjoyment thereof immediately on his birth.
It also can be affixed on conspicuous noticeable part of the property. Where the mortgage is usufructuary and the accession has been acquired at the expense of the mortgagee, the profits, if any, arising from the accession shall, in the absence of a contract to the contrary, be set off against interest, if any, payable on the money so expended.rows · An Act to amend the law relating to the transfer of property by act of.
The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.
The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. Where, on a transfer of property, an interest therein is created subject to a condition that the person taking it shall perform a certain act, but no time is specified for the performance of the act, the condition is broken when he renders impossible, permanently or for an indefinite period, the performance of the act.
In the following sections “Transfer of Property” means and 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.
The transfer of property act Immovable properties - The definition of immovable properties it is negative definition, which say what is not an immoveable property. Mar 24, · Transfer of Property Act, by CA Shivangi Agrawal for CS Executive Economic & Commercial Law Arbitration & Conciliation Act, 20 Must-Know Legal Documents For Property Buying.Download