Quick Answer: Can A Person Transfer Any Property To Himself?

What are the modes of transfer of property?

There are various modes of transferring ownership of property: permanently by 1) relinquishment 2) sale 3) gift; and temporarily by way of 4) mortgage 5) lease and, 6) leave and license agreement..

Can a right to sue be transferred?

A mere right to sue, as for instance, in respect of damages for breach of contract, or for tort, cannot be transferred. The object of the prohibition is to prevent gambling in litigation. Moreover, a right to sue is personal to the party aggrieved.

Can future property be transferred?

Every person, who is competent to contract, is competent to transfer property, which can be transferred in whole or in part. … The right may be either absolute or conditional, and the property may be movable or immovable, present or future.

Can property be transformed to an unborn person?

It is to be noted that a child in mother’s womb is considered to be in existence according to the law. Form a trust: The property can be transferred to an unborn child but through a trust, not directly. If a trust is not formed, the property must be transferred in favor of a living person and then to the minor.

What is rule against perpetuity in India?

Introduction. Rule against perpetuity has been dealt under section 14 of Transfer of Property Act, 1882. Perpetuity simply means “indefinite Period”, so this rule is against a transfer which makes a property inalienable for an indefinite period.

What are the essential features of Transfer of Property Act?

The consideration or object of the transfer must be lawful. No transfer can be made for an unlawful object or consideration as provided in Section 23 of the Indian Contract Act, 1872. 6. The transfer must not be opposed to the nature of the interest effected thereby.

What is the difference between vested and contingent interests?

Vested Interest does not entirely depend on the condition as the condition involves a certain event. It creates a present right that is in effect immediately, although the enjoyment is postponed to the time prescribed in the transfer. Contingent interest is entirely dependent on the condition imposed on the transfer.

Who is competent to transfer the property?

Every person competent to contract and entitled to transferable property, or authorised to dispose of transferable property not his own, is competent to transfer such property either wholly or in part, and either absolutely or conditionally, in the circumstances, to the extent and in the manner, allowed and prescribed …

What is Property in Transfer of Property Act?

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.

Does Transfer of Property Act apply to movable property?

Also this Act deals with a transfer of property inter vivos, i.e., a transfer between living persons. It contains transfer of both movable and immovable property but a major portion of the enactment is applicable to the transfers of immovable properties only. The Act is not exhaustive.

What is actionable claim under Transfer of Property Act?

Actionable Claim: is a claim to any debt, other than secured by mortgage of immovable property or pledge or hypothecation of some movable property, or to any beneficial interest in movable property, not in possession either actual or constructive of the claimant.

How many sections are there in Transfer of Property Act?

—The Chapters and sections of this Act which relate to contracts shall be taken as part of the Indian Contract Act, 1872 (9 of 1872). 1[And section 54, paragraphs 2 and 3, and sections 59, 107 and 123 shall be read as supplemental to the Indian Registration Act, 2[1908 (16 of 1908)].] 5. “Transfer of property” defined.

Which property Cannot be transferred?

Transfer of Property Act, 1882 An interest in property restricted in its enjoyment to the owner personally cannot be transferred by him. A right to future maintenance, in whatsoever manner arising, secured or determined, cannot be transferred. A mere right to sue cannot be transferred.

What kind of property can be transferred?

The General rule related to Transfer of Property is that property of any kind may be transferred and this property can be movable or immovable. Property of any kind can be transferred from one party to another.

Legal Status of an Unborn Child A child that is still in the womb of its mother is still not technically a person. But by legal fiction, an unborn child is considered already born. i.e. he is granted a certain legal personality. If the child is born alive he will then enjoy legal status.

Who is ostensible owner in Transfer of Property Act?

Section 41 of the Act lays down that “when a person acts on the express or implied consent of a person who is interested in an immovable property, the person who acts on such consent is the ostensible owner of the property.” He possesses all the indicia of ownership like the right to title, possession, documents etc.

What is difference between ostensible owner and Benami transaction?

Benami transactions are where the real ownership lies in another who pays the consideration, while the ostensible ownership lies in the benamidar who only lends his name to the title deeds.

What is oral transfer?

Oral transfer. —A transfer of property may be made without writing in every case in which a writing is not expressly required by law. The Section 9 of Transfer of Property act is\also related with some other sections such as: Section 54 in The Transfer of Property Act, 1882. 54.

Can a person transfer any property to himself or to a person who is not yet born?

There cannot be a direct transfer to a person who is not in existence or is unborn. This is the reason why section 13 uses the expression transfer ‘for the benefit of’ and not transfer ‘to’ unborn person. A child in the mother’s womb is considered to be competent transferee.

Who is ostensible owner?

Definition: Ostensible owner is the person who is though not the real owner but has all incidents and/or characteristics as the real owner. The person on the face of it i.e apparently looks like the real owner but in fact he is not the real owner.