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 them and had specific legal rights and ownership attached, people in ancient India used the term “property.” “A object or things belonging to someone” is what property refers to. Anything that a person owns and over which they have legal claims is considered to be their property.
For government and maintaining law and order, many personal laws and statutes were utilised. The property was governed by the village’s zamindar and subedar. The Transfer of Property Act, 1882, and other laws were codified by the British during the British Empire, which afterwards ruled the people of India under English law.
The Transfer of Property Act, 1882 created the laws governing and relating to the transfer of property in India. It highlighted the social and economic significance of “property,” which can be anything that belongs to anyone. It is a thing that is legally the property of a person who has the right to claim it. There are numerous ways to use property. Properties include both material and intangible things.
In India, the term “property” refers to both tangible and intangible items, such as real estate, land, and innovations, creations, ideas, and innovations.
Different criteria are used to categorise different types of property. Properties come in the following categories:
-Real Property and Personal Property
-Moveable Property and Immovable Property
-Absolute property and Qualified Property
-Corporeal Property and Incorporeal Property
Moveable Property
In the broad sense, moveable property refers to objects or items that belong to someone and can be transported from one location to another. Consider jewellery, a table, etc. It is mobile and personal property. Moveable property includes all types of personal property that can be moved. According to the following Indian legal statutes, it is defined:
(1) General Clause Act of 1977, Section 3 (36) states that “movable property” is defined as “property of all descriptions, excluding immovable property.”Moveable property is defined as property that does not fall into the immovable property category. For instance, anything that can be moved, such as furniture, computers, chairs, and automobiles, falls under the category of transportable property.
(2) Registration Act, 1908, Section 2(9): “Moveable property” is defined as “property of any description, other than immovable property, including standing wood, growing crops and grass, fruit upon and juice in trees, and property of every other description.”
Standing trees like bamboo, oak, neem, and other types of commercially useful trees are included in moveable property. Growing grass and crops that may be gathered from the land after cultivation fall under the category of transportable property since they can be used for profit. Other goods made from shrubs and trees, such as fruits, juices, and rubber, are also movable attributes. Moveable property is anything that can be used on a daily basis and is mobile, regardless of whether it is growing on an immobile piece of property like land.
(3) Moveable property is also defined in the Indian Penal Code. The phrase “movable property” is meant to refer to all corporeal property, with the exception of land and items that are permanently anchored to the soil or those that are related to it. This is stated in Section 22.Unlike objects that are anchored to the soil forever, transportable property is anything that can be moved. Moveable property includes things that are legally utilised for trade and other activities and that are grown on immovable property. Things that are permanently anchored to the earth and cannot be moved are not considered mobile properties.
Reference
Brush Up Your Basic Knowledge About Movable and Immovable Property
Movable and immovable properties: Know the differences
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