Introduction The Transfer of Property Act went into effect on July 1st, 1882. In line with the rules controlling its descent upon death, it regulates the laws regulating the transfer of property amongst persons who are still alive. It also completes the real estate section of the code of contract law. This Act does not…
An individual who has permission to use and inhabit rental home that a renter has leased from a landlord is known as a subtenant. Both the owner and the landlord have expectations of a subtenant. Before renting a room a property to a sub lesser, a tenant frequently needs the owner’s permission. Rent to the…
ReversionReversion in real estate is the ability to take back possession or ownership of a property after a given amount of time has passed or a specific event has taken place. The original owner of the property frequently holds the reversionary interest, which becomes effective when a certain event occurs. The original conveyance document must…
Immovable Property Meaning According to several sources and popular understanding, moveable property includes items like jewellery, watches, laptops, cash, and more. Both Section 12(36) of the General Clause Act of 1847 and the Transfer of Property Act of 1882 refer to “movable property.” Movable property is defined as “any corporeal property, save land and items…
On July 1st, 1882, the Transfer of Property Act became operative. It controls the laws governing the transfer of property between living individuals in accordance with the laws governing its devolution upon death. Additionally, it completes the code of contract law with regard to real estate. This Act only deals with the transfer of immovable…
Property is a term used in law to refer to a wide range of objects. It covers not only real assets like land and things, but also intangible rights that could be used as a revenue stream. Similar to the global commons, which are resources that everyone can use and enjoy without granting any one…
The Transfer of Property Act is a general law related to the transfer of property. Generally deals only with real estate. Objectives The basic objective of this law is to formulate rules, regulations and procedures for the transfer of property. Scheme of law A transfer can take effect in 2 different ways 1. Transfer by…
IntroductionTransfer means the transformation of an object from one person to another. An asset can be defined as any tangible or intangible business owned by an individual or group of people. Property may be transferred from one person to another by transfering rights, or interest, or ownership, or possession of property to the satisfaction of…
Property The word “property” is frequently used in many facets of life. The concept of property has existed since the dawn of humanity. For their daily needs, people in ancient kingdoms and governments also acquired property and possessions, which led to the gradual development of rules governing it. When referring to items that belonged to…
Introduction According to the Transfer of Property Act, 1882 section 1051 lease of immovable property is a transfer of the right to enjoy such property, made either for a certain period of time or in perpetuity for consideration of money or a share of crops periodically. The lessor is the one who owns the leased…
