Intangible property is also known as incorporeal property. It is something that a person or business can own and transfer to another person or corporation but does not have any physical substance, such as brand name or intellectual property. It usually relates to legal creations like copyright, trademarks, and patents. Real property (land, buildings, and…
Introduction Ownership refers to the relation that a person has with an object that he owns. It is an aggregate of all the rights that he has with regards to the said object. These rights are right in rem it means that they can be enforced against the whole world and not just any specific…
Introduction Property is one of the fundamental elements of socio economic life of an individual. Juridically, a bundle of rights in a thing or land, the word property has gradually been given a wider meaning to include every kind of mortgage on another’s land and also the intellectual property e.g. copyrights and patents etc. However…
RERA stands for Real Estate Regulatory Authority which came into existence as per the Real Estate (Regulation and Development) Act, 2016, an act passed by the Parliament in 2016 that came into effect with its 92 sections fully from 1st May, 2017. It aims to protect the purchasers and also to boost the investments. It establishes…
When two persons mutually transfer the ownership of one thing for the ownership of another, neither thing or both things being money only, the transaction is called an” exchange”. A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such property by sale. The essential…
A mortgage is the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability. The transferor is called a mortgagor,…
In legislation of 2013, Section 24. Land acquisition process under Act No. 1 of 1894 shall be deemed to have lapsed in certain cases.– (1) Notwithstanding anything contained in this Act, in any case of land acquisition proceedings initiated under the Land Acquisition Act, 1894,— (a) where no award under section 11 of the said …
Introduction A mortgage is a kind of security given by the mortgagor for repayment of the loan to the mortgagee. Thus, if the borrower is unable to repay the loan or becomes insolvent, it protects the lender, as he acquires the right over the mortgaged property. Mortgagor and mortgagee are the parties who have an…
Introduction: A tort is a civil wrong involving unlawful behaviour or the infringement of a legal right, and the person who commits the tort is legally responsible for the claimant’s damages. The tortfeasor is the one who engages in this tortuous behaviour. The difference between a tort and a criminal offence is that the latter…
Introduction Rule against perpetuity has been dealt under section 14 of Transfer of Property Act, 1882. Perpetuity simply means “indefinite Period”, so this rule is against a transfer which makes a property inalienable for an indefinite period. Here it means, the interest is created in present, but it is to take effect in future. The…
