Mr. Kislay Pandey explains, “Transfer of property means forwarding the entire interest lie in the property that an individual capable of transfer to transferee, unless a different section is mentioned in the transfer document.”
1. Property Matter Advocate briefs about Transfer of
Property Act:
The Transfer of Property Act is a law or legislation in India, which
controls the transfer of property and the regulations and
conditions associated with it. By definition, it says that 'transfer
of property' signifies an act by which a person transfers property
to one or more individuals or himself and one or more other
individuals. This act was enacted in 1882. The individual may
include a person, company or association or body of individuals
and any kind of property may be transferred to anyone including
transfer of immobile property. The property transfer can be
done at present or in future.
A renowned Supreme Court Property Matter Advocate Mr. Kislay
Pandey explains, “Transfer of property means forwarding the
entire interest lie in the property that an individual capable of
transfer to transferee, unless a different section is mentioned in
the transfer document.”
2. Property Matter Advocate briefs about Transfer of
Property Act:
According to section 9 of the act, the transfer of property can be made
verbally, unless a law demands written transfer document. A transferor
must have the authorisation legally to dispose of transferable property or
must be entitled to the transferable property. A transferor can transfer
the property in whole or in part and can be transferred either absolutely
or provisionally.
Sale of Immovable Property:
In a legal terminology, “Sale” is a transfer of ownership in exchange for a
monetary amount paid or promised or partly paid and partly promised.
According to law, tangible immovable property which worth is more than
INR 100 must be transferred to another by a registered document.
Delivery of tangible immovable property can be called complete when a
buyer or such person as he directs, replaces the buyer. Thus, when it
comes to delivery of immovable property, a seller has to give complete
possession of the property to the buyer or any person or organization
authorised by the buyer.
3. Property Matter Advocate briefs about Transfer of
Property Act:
There are so many conditions which must be fulfilled or this transfer of
property is considered void or illegal. If the property is transferred
subject to the condition which completely detains the transferee from
parting or arraying of his interest in the property, the condition is
annulled. However, there is an exclusion when a lease where the
condition is for the advantage of the lessor or those appealing under him.
Fundamentally, only the person having an interest in the property is
accredited to transfer his portion or interest in the property and can
permit the appropriate title to any additional individual.
If following prerequisites are satisfied, the rights of the transferees will
not be unfavourably disturbed.
They represented in moral faith.
The property was obtained for deliberation.
The transferees had acted without notification of the imperfection in
title of the transference.
4. Property Matter Advocate briefs about Transfer of
Property Act:
The following conditions must be satisfied to make the transfer of the
property lawfully.
It should be noted that these conditions must be satisfied:
The transferor must have an authorisation that he has authority to
transfer the immovable property.
The demonstration should be either duplicitous or inaccurate.
The transferee must act on the demonstration in good faith.
The transfer should be completed for a deliberation.
The transferor should consequently purchase some interest in the
property he had decided to transfer.
The transferee may have the choice to purchase the interest which the
transferor successively obtained.
5. Property Matter Advocate briefs about Transfer of
Property Act:
The Transfer of Property Act 1882 is one of the
most important laws of India that depicts the
regulations and conditions of property transfer.
Mr. Kislay Pandey, a well-known Property matter
Advocate of the Supreme Court of India explains
the act in brief.