Question: What Can Be Transferred?

What properties may not be transferred?

 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..

How do I transfer property in India?

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.

What is Exchange under Transfer of Property Act?

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”. A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such property by sale.

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.

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 the property under the Transfer of Property Act?

Even when a person is mentally competent, but physically unable to sign any contract, the property lawyer hired by him, can do that with the help of a power of attorney. According to Section 6 of the Transfer of Property Act, the property of any kind may be transferred.

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 is oral transfer?

Oral transfer. —A transfer of property may be made without writing in every case in which a writing is not expressly required by law. The Section 9 of Transfer of Property act is\also related with some other sections such as: Section 54 in The Transfer of Property Act, 1882. 54.

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.

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.

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.

What is difference between ostensible owner and Benami transaction?

Benami transactions are where the real ownership lies in another who pays the consideration, while the ostensible ownership lies in the benamidar who only lends his name to the title deeds.

What is meant by transfer of property?

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; and “to transfer property” is to perform such act.

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.

Which of the following properties or interests Cannot be transferred?

Stipends related to Military, Naval, Air Forces, Civil Prisoners, government pensions, etc are personal rights and cannot be transferred. … There is no prohibition in law that ownership in a property cannot be gifted without its possession and right of enjoyment.

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.

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.

Is surrender a transfer of property?

Surrender: A deed of surrender is a legal document that transfers property ownership for a given time period provided certain conditions are met. … Once the deed of surrender has been signed, any outstanding claims on the property can be resolved.