- How a person can transfer property to himself?
- What is Property in Transfer of Property Act?
- Is transfer of property an exhaustive Act?
- What property may be transferred and what property Cannot be transferred?
- Can a right to sue be transferred?
- Which property is non transferable property?
- Can future property be transferred?
- What are the modes of transfer of property?
- What is future property?
- Who is an ostensible owner?
- Who is competent to transfer the property?
- Is a sale of future property valid?
- How many sections are there in Transfer of Property Act?
- What is actionable claim under Transfer of Property Act?
- What is doctrine of lis pendens?
How a person can transfer property to himself?
For testamentary succession, the Indian Succession Act, 1925 is applicable.
A conveyance is a transfer of the property from one living person to another.
Property may be conveyed to one or more other living persons, or to himself, or to himself and one or more other living persons..
What is Property in Transfer of Property Act?
According to the Transfer of Property Act, transfer of property means when a living person conveys the property, in present or in future, to one or more persons, or himself and one or more other persons and to transfer property is to perform such act. [
Is transfer of property an exhaustive Act?
Objectives of Transfer of Property Act, 1882: With provision for inter-vivos (between two living persons) transfers, the Act, provides a law parallel to the existing laws of testamentary and intestate transfers. The Act is not exhaustive because it does not cover the entire dimension of transfer of property.
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.
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.
Which property is non transferable property?
If there is any other possibility property or interest which is as uncertain as specs succession or legacy, that too will not be transferable. Any property which is merely a future uncertain possible interest should not be made a transferable property.
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.
What is future property?
Future property. Future property cannot be assigned at common law because the assignor has no title to assign. Future property cannot be effectively assigned without consideration in equity. Property can be future in two sense: a) The property may exist, but not yet be owned by the would-be assignor.
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.
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 …
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 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.
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 doctrine of lis pendens?
The common-law doctrine of lis pendens says, if property was the subject of litigation, the defendant-owner could transfer all or part of his or her interest in the property during the course of litigation, but not to the detriment of the rights of the plaintiff.