Transfer of property as the name suggests is the act of transferring ownership of property from one person, individual or company to another. The Transfer of Property Act 1882 talks about transfer of property between living beings. You must know that here, living beings refers to a company, association, individual or body of individuals. The act defines property as movable and immovable property.
What is transfer of propertySo far I have given you an idea on what transfer of property is. Let us now understand what types of transfer can take place as per Transfer of Property Act.
There are 6 types of transfer which can take place:
Sale
lease/ renting
Mortgage
Exchange
Gift
Actionable claim
An immovable property which in future is expected to be inherited cannot be transferred.
A lessor cannot transfer his or her right to re-enter into a leasehold property
If a real estate developers enters into a Joint Development Agreement with a landlord to build a project on the landlord’s land then the former will not have any right to transfer the property ownership
The easement rights on a property cannot be transferred either.
I hope transfer of property is clear to you now.
How to transfer property owned by my late wife without nominationYour Feedback Matters! How was this Answer?
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Authors Of The Question
What is transfer of property?
Dileep
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1 Answers
3 Year
2021-11-11T12:52:39+00:00 2021-11-12T10:56:54+00:00Comment
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