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THE TRANSFER OF PROPERTY ACT, 1882

Vijay J. Kakwani
Advocate


Preamble

CHAPTER I
PRELIMINARY

1.

Short title

2.

Repeal of Acts – Saving of certain enactments, incidents, rights, liabilities, etc.

3.

Interpretation clause

4.

Enactments relating to contracts to be taken as part of Contract Act and supplemental to the Registration Act

CHAPTER I
TRANSFER OF PROPERTY BY ACT OF PARTIES

5.

Transfer of property defined

6.

What may be transferred

7.

Persons competent to transfer

8.

Operation of transfer

9.

Oral transfer

10.

Condition restraining alienation

11.

Restriction repugnant to interest

12.

Condition making interest

13.

Transfer for benefit of unborn

14.

Rule against perpetuity

15.

Transfer to a class, some of whom come under sections 13 and 14

16.

Transfer to take effect on failure of prior interest

17.

Direction for accumulation

18.

Transfer in perpetuity for benefit of public

19.

Vested interest

20.

When unborn person acquires vested interest on transfer for his benefit

21.

Contingent interest

22.

Transfer to members of a class who attain a particular age

23.

Transfer contingent on happening of specified uncertain event

24.

Transfer to such of certain persons as survive at some period not specified

25.

Conditional transfer

26.

Fulfillment of condition precedent

27.

Conditional transfer to one person

28.

Ulterior transfer conditional on happening or not happening of specified event

29.

Fulfillment of condition subsequent

30.

Prior disposition not affected by invalidity of ulterior disposition

31.

Condition that transfer shall cease

32.

Such condition must not be invalid

33.

Transfer conditional on performance of act, no time being specified for performance

34.

Transfer conditional on performance of act, time being specified

ELECTION

35.

Election when necessary

APPORTIONMENT

36.

Apportionment of periodical payments on determination of interest of person entitled

37.

Apportionment of benefit of obligation on severance

38.

Transfer by person authorised only under certain circumstances to transfer

39.

Transfer where third person is entitled to maintenance

40.

Burden of obligation imposing restriction on use of land

41.

Transfer by ostensible owner

42.

Transfer by person having authority to revoke former transfer

43.

Transfer by unauthorised person who subsequently acquires interest in property transferred

44.

Transfer by one co-owner

45.

Joint transfer for consideration

46.

Transfer for consideration by persons having distinct interests

47.

Transfer by co-owners of share in common property

48.

Priority of rights created by transfer

49.

Transferee’s right under policy

50.

Rent bona fide paid to holder under defective title

51.

Improvement by bona fide holders

52.

Transfer of property pending suit relating thereto

53.

Fraudulent transfer

53A.

Part performance

CHAPTER III

54.

"Sale" defined

55.

Rights and liabilities of buyer and seller

56.

Marshalling by subsequent purchaser

DISCHARGE OF ENCUMBRANCES ON SALE

57.

Provision by court for encumbrances and sale freed therefrom

Chapter - IV

58.

"Mortgage", "mortgagor", "mortgagee", "mortgage-money" and "mortgaged" defined.

59.

Mortgage when to be by assurance

59A.

References to mortgagors and mortgagees to include persons deriving title from them

RIGHTS AND LIABILITIES OF MORTGAGOR

60.

Right of mortgagor to redeem

60A.

Obligation to transfer to third party instead of re-transference to mortgagor

60B.

Right to inspection and production of documents

61.

Right to redeem separately or simultaneously

62.

Right of usufructuary mortgagor to recover possession

63.

Accession to mortgaged property

63A.

Improvements to mortgaged property

64.

Renewal of mortgaged lease

65.

Implied contracts by mortgagor

65A.

Mortgagor’s power to lease

66.

Waste by mortgagor in possession

RIGHTS AND LIABILITIES OF MORTGAGEE

67.

Right to foreclosure or sale

67A.

Mortgagee when bound to bring one suit on several mortgages

68.

Right to sue for mortgage-money
69. Power of sale when valid
69A. Appointment of receiver
70. Accession to mortgaged property
71. Renewal of mortgaged lease
72. Rights of mortgagee, in possession
73. Right to proceeds of revenue sale or compensation on acquisition
74. Right of subsequent mortgagee to pay off prior mortgagee
75. Rights of mesne mortgagee against prior and subsequent mortgagees
76. Liabilities of mortgagee in possession
77. Receipts in lieu of interest
78. Postponement of prior mortgagee
79. Mortgage to secure uncertain amount when maximum is expressed
80. Tacking abolished

MARSHALLING AND CONTRIBUTION

81. Marshalling securities
82. Contribution to mortgage-debt

DEPOSIT IN COURT

83. Power to deposit in court money due on mortgage
84. Cessation of interest

SUITS FOR FORECLOSURE, SALE OR REDEMPTION

85. Parties to suits for foreclosure, sale and redemption
FORECLOSURE AND SALE
91. Persons who may sue for redemption
92. Subrogation
93. Prohibition of tacking
94. Rights of mesne mortgagee
95. Right of redeeming co-mortgagor to expenses
96. Mortgage by deposit of title-deeds
97. Application of proceeds

ANOMALOUS MORTGAGES

98. Rights and liabilities of parties to anomalous mortgage

ATTACHMENT OF MORTGAGED PROPERTY

99. Attachment of mortgaged property

CHARGES

100. Charges
101. No merger in case of subsequent encumbrance

NOTICE AND TENDER

102. Service or tender on or to agent
103. Notice, etc., to or by person
104. Power to make rules

CHAPTER V
OF LEASES OF IMMOVABLE PROPERTY

105. Lease defined
106. Duration of certain leases in
107. Leases how made
108. Rights and liabilities of lessor and lessee
109. Rights of lessor’s transferee
110. Exclusion of day on which term commences
111. Determination of lease
112. Waiver of forfeiture
113. Waiver of notice to quit
114. Relief against forfeiture for
114A. Relief against forfeiture in certain other cases
115. Effect of surrender and forfeiture on under-leases
116. Effect of holding over
117. Exemption of leases for agricultural purposes

CHAPTER VI
OF EXCHANGES

118. "Exchange" defined
119. Right of party deprived of thing received in exchange
120. Rights and liabilities of parties
121. Exchange of money

CHAPTER VII
OF GIFTS

122. "Gift" defined
123. Transfer how effected
124. Gift of existing and future property
125. Gift to several of whom one does not accept
126. When gift may be suspended or revoked
127. Onerous gifts
128. Universal donee
129. Saving of donations mortis cause and Mohammedan Law
130. Transfer of actionable claim

CHAPTER VIII
OF TRANSFER S OF ACTIONABLE CLAIMS

130A. Transfer of policy of marine insurance
131. Notice to be in writing, signed
132. Liability of transferee of actionable claim
133. Warranty of solvency of debtor
134. Mortgaged debt
135. Assignment of rights under policy of insurance against fire
135A. Assignment of rights under policy of marine insurance
136. Incapacity of officers connected with courts of justice
137. Saving of negotiable instruments, etc.

Courtesy : Chamber of Income Tax Consultants (December, 2001)

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