Transfer Of Property Act: 1882
Indian legislation to regulate
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The Transfer of Property Act 1882 is an Indian legislation which regulates the transfer of property in India. It contains specific provisions regarding what constitutes a transfer and the conditions attached to it. It came into force on 1 July 1882.
According to the Act, 'transfer of property' means an act by which a person conveys the property to one or more persons, or himself and one or more other persons. The act of transfer may be done in the present or for the future. The person may include an individual, company or association or body of individuals, and any kind of property may be transferred, including the transfer of immovable property.
Property is broadly classified into the following categories:
Immovable Property (excluding standing timber, growing crops, and grass)
Movable Property
The Interpretation of the Act, says "Immovable property does not includes standing timber, growing crops or grass". Section 3(26), The General Clauses Act, 1897, defines, " immovable property" shall include land, benefits to arise out of the land, and things attached to the earth, or permanently fastened to anything attached to the earth. Also, The Registration Act,1908, 2(6)
"immovable property" includes land, buildings, hereditary allowances, rights to ways, lights, ferries, fisheries or any other benefit to arise out of the land, and things attached to the earth or permanently fastened to anything which is attached to the earth, but not standing timber, growing crops nor grass.
A transfer of property passes forthwith to the transferee all the interest which the transferor is then capable of passing in the property unless a different intention is expressed or implied.
There are 18 other statutes that are primarily concerned with Property Law, or significantly matter to Property Law, as listed below:
Trusts Act, 1882
Specific Relief Act, 1963
Easements Act, 1882
Registration Act, 1908
Stamp Act, 1899
U.P. Stamp Act, 2008
Limitation Act, 1963
General Clauses Act, 1897
Evidence Act, 1872
Succession Act, 1925
Partition Act, 1893
Presidency-Towns Insolvency Act, 1909
Provincial Insolvency Act, 1920
Recovery of Debts Due to Banks and Financial Institutions Act, 1993
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest fact, 2002
Contract Act, 1872
Sale of Goods Act, 1930
Negotiable Instruments Act, 1881
Enemy Property Act.
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