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. KislayPandey 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.”
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.
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.
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.
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. KislayPandey, a well-known Property matter Advocate of the Supreme Court of India explains the act in brief.