What Is Immovable Property Under Transfer Of Property Act?

Which rights are calculated as rights of immovable property?

The following have been held as immovable property.

A right to collect rent, life interest in the income of the immovable property, right of way, a ferry, fishery, a lease of land.

The term “Immovable Property” is defined in other Acts for the purpose of those Acts..

What is actionable claim under Transfer of Property Act?

Actionable Claim: is a claim to any debt, other than secured by mortgage of immovable property or pledge or hypothecation of some movable property, or to any beneficial interest in movable property, not in possession either actual or constructive of the claimant.

What is mean by transfer of property?

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. The act of transfer may be done in the present or for the future.

What are the different types of property rights?

Types of property rightsOwnership. Owning land gives the owner all rights to the property. … Lease. A lease is a contract that allows certain individuals and/or organizations to use land for a particular purpose for the duration of the lease. … License. A license is written permission to enter and use another person’s land. … Easement.

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.

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 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 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.

Is actionable claim a good?

Actionable claim is a goods and definition of goods under GST specifically includes actionable claim but as per Schedule III of CGST Act 2017, Actionable Claims other than lottery, betting and gambling are neither as supply of goods or services.

What is actionable claim example?

In brief, it can be said that an actionable claim means a claim to an unsecured debt or any interest in movable property which is not in the possession of the claimant. Examples: … The rent due on the part of the tenants is an actionable claim. 10,000 was given by A to B as earnest money for B’s house.

Which properties 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.

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 …

How can an immovable property be transferred?

Transfer of immovable property may happen only in certain ways. They can either be through sale, mortgagee, lease, and gifts or through actionable claims. These are modes of transfer. Contract of sale of immovable property is basically a contract, which states terms for the permanent transfer of property.

What are examples of property rights?

The rights of property ownership can be extended by using patents and copyrights to protect:Scarce physical resources such as houses, cars, books, and cellphones.Non-human creatures like dogs, cats, horses or birds.Intellectual property such as inventions, ideas, or words.

Can a right to future maintenance be transferred?

The sub-section of maintenance, it has been established that a right to future maintenance is solely for the personal benefit of the person to whom it has been granted and therefore, this very right cannot be transferred further. … This right can neither be transferred nor can it be attached by a court’s decree.

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.

Is decree an actionable claim?

judgment debt or decree is not an actionable claim for… claim means a claim to any debt, or to any beneficial interest in movable property not in the possession, either actual or constructive, of the claimant, which the civil courts recognize as affording grounds for …