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One Reply to “Transferability of
Transferability of Immovable property Select Categ
On April 5, 2015 By admin
By Anonymous RECENT COMMENT
Introduction
Major sharma on
Transfer of a property can be made in two ways,
Removal of Public
firstly by an act of parties and secondly by law. Under
Nuisance: Section
the act of parties, Transfer of Property Act (TOPA)
133 of CrPC
exists, which gives us further divisions that is
whether the property is movable or immovable, Rashmitha on
transfer for movable property and immovable General Defenses
property. In my research paper, I am going to focus In Torts
on immovable property. Immovable property is
Derick Kishore G
divided into six parts- sale, mortgage, actionable
on Inter-caste and
claims, lease, exchange, and gifts, charge.
Inter-religious
law Constitution
3. Thirdly, the property itself must be transferred.
of India
person. contracts
criminal law
Any kind immovable property can be transferred. Any
death penalty
kind of immovable property can be transferred other
than that which are given in Section 6 of the TOPA. In divorce
only certain people who should enjoy the right. The law Human
transferred. indian
constitution
The third element is competency as under Section 7
Indian Contract
of TOPA. The individual must not be a minor or an
Act Indian
insane person. The person must have the title of
Evidence Act
property or the person must have the authority to
Indian penal
transfer; in part or in whole, as held in the case
code
Krishna Khurhai v. Grindlays bank, if transfer is made
international law
ultra virus to the authority vested in the agent, the
IPC IPR
transfer will be void.
judicial activism
claims. Private
International Law
The fifth element being that a valid transfer can also Property
happen under Section 9 of TOPA as an oral transfer. Property Law
rape Right
Transfer of immovable property may happen only in
to information
certain ways. They can either be through sale,
rule of law
mortgagee, lease, and gifts or through actionable
Sovereign
claims. These are modes of transfer.
1. Sale- special marriage
Type of
2. Mortgage-
Assistance *
Transfer of immovable property can also take
place through mortgage. Section 58(a) of the Drafting of
Documents
TOPA says, a mortgage i the transfer of an
Due
interest in specific immovable property for the
Diligence
purpose of securing the payment of money
Advisory
advanced or to be advanced by way of loan, an
existing or future deist, or the performance of Regulatory
Applications
an engagement which may give rise to a
Dispute
pecuniary liability. Ingredients of mortgage; in a
Resolution
mortgage, the mortgagor transfers any one of
Others
his interests in specified immovable property
to the mortgagee. Money to be advanced by
way of loan arises in the case of a running Query /
account between the parties. Future debt is a
Background
contingent liability, which arises on the
happening of some contingency. If the promise
is not completed, an obligation to pay arises.
These may be a pecuniary liability.
An undertaking i.e., a person borrowing money
not to alienate his property until the money is
300 of 300 Word(s)
repaid is not a mortgage, because there is no left
transfer of interest in the property.
SUBMIT
3. Charge-
Transfer of immovable property can also take
place through charge. According to Section
100 when a person by the act of parties or
operation of law creates security for the
payment of money to another, and the
transaction should not be a mortgagee, the
latter is said to have a charge on the property.
The charge is created by operation of law, this
distinguishes mortgage, which is created by
act of parties.
4. Lease-
Transfer of immovable property can also take
place though lease. Section 105 defines lease.
According to it, lease of immovable property is
a transfer of a right to enjoy such property,
made for a certain time, express or implied or
in perpetuity in consideration of a price paid or
promised, or of money, share of crops, service
or any other thing of value, to be rendered
periodically or on specified occasions to the
transferor by the transferee, who accepts the
transfer on such terms.
6. Other ways-
Immovable property can also be transferred by way
of law that is if there is insolvency, succession or the
absence of a will. In the situation of the absence of a
will, the court shall declare the transfer of property
by way of interstate.
Conclusion
Therefore for a property to be transferable several
conditions need to be satisfied. These include that of
constituting a transfer; it to come within the
definition of immovable property and it should not be
amongst those items, which may not be transferred
under Section 6 of the Transfer of Property Act. In
addition to this, it is clear that there are several kinds
of transfer that may take place. Each kind of transfer
as has been explained has different procedures and
conditions, which need to be satisfied. These are
hence the various elements that are required to be
transferred for a property to be transferable.
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