Transfer of Property Act

Abstract

The Transfer of Property Act is an act consolidating all the laws regulating the transfer of property between parties. It regulates transfer inter vivos; that is, dealing of transfer between living parties in the present or in the future. Living parties include existing corporations, partnership firms, and so on that have not been wound up and/or closed. Act does not include any transfer by the conduct of a court and/or by the operation of law. The act of party also considers will and codicil (succession,) but they are not included in the act. It also does not include transmission, that is, transfer after the death of the party, as it is governed under various personal laws relating to the law of succession. There are six types of transfer of immovable property dealt with under the Act; that is, Sale, Gift, Exchange, Mortgage, and so on. During the British Era, transfer of property was made following the local laws
and principle of natural justice. And after that, British Laws were adopted in India to govern the provisions related to transfer of immovable property. However, some of its section deals with the transfer of movable property. The act deals with the immovable property, whereas the movable property is dealt under the Sales of Goods Act. Even though the act is of the Year 1882, various provisions has been amended by the legislature and reviewed by the judiciary. This act covers conveyance of Right, Title, and Interest. The act provides uniformity as it is applicable in equal manner to all the transfer, which has taken place between parties. However, it has a saving clause, in which it is mentioned that if there is a conflict between Special Laws and Transfer of Property Act, then special laws will prevail as Transfer of Property Act is General Law. The act follows the essential requirement of a valid contract
as mentioned under Indian Contract Act.