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COURSE
8 - Property Laws I
BLOCK
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AUTHOR
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Learning Objectives
After you go through this material, you should be able to:
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Introduction
With the conclusion of the Block introducing Property Laws, it is
time to delve into the general principles of property laws. This
Block generally deals with the provisions contained in Chapter II
of the Transfer of Property Act, 1882 (the Transfer of Property
Act).
The main overarching point to understand here is that the Transfer
of Property Act is structured to facilitate transfers. Therefore,
these general principles allow for a great deal of flexibility in the
structuring of the transfer transactions. However, since its purpose
is to promote transfers of property, Chapter II of the Transfer of
Property Act prohibits transactions structured to restrict such
transfers and make properties inalienable or illiquid. Therefore, it
is extremely important to study these various principles in some
detail. We will do so in this Block.
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transferable property?
property are:
persons;
the answer to this. It states that the term transfer of property, for
the purposes of the Transfer of Property Act, means an act
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that there are a variety of transfers that are not covered by the
are:
Section 5.
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constitute a transfer.vii
transfer.
Act.ix
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property not only in the present, but where the conveyance takes
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future property that is, property that is acquired only after the
the transferor and the transferee are the same person, the latter
takes the property in a capacity other than the former and hence,
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Property Act.
Property Act or any other law in force at the time being. After that,
it lists out the transactions that are prohibited under the Transfer
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transferred.xxi
transferable.xxii
forfeiture.
A died. The court held that this was more than a mere
spes succesionis. The right of survivorship was incidental
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such a case, the easement that is, the right to use the
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transferable.
of Property Act.
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such a case.
insanity.
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Operation of Transfer
Once we know that there is transferable property and a person
has the capacity to transfer it, the next question that arises is: how
does the transfer operate? When a property is transferred, which
Oral Transfers
The final issue for this Unit is: how is a transfer to be effected?
thereof. This is the general rule. After that, the provision gives
rents and profits accruing from it, and all things attached to the
earth are transferred with the land. In case of machinery attached
to the earth, the immovable parts go with it. Where the property is
a house, the easements annexed, the rent accruing, and the
fixtures provided for permanent use, such as bolts and doors are
automatically transferred. Where the property is money or other
property yielding income such as leased property, the interest or
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Conclusion
With this, we conclude this Unit on the general rules of transfer
of property. Once you have an understanding of these rules, we
must then look at specific rules that govern transfers generally.
Transfer transactions may be carried out with varied nuances.
For each of these, there are different principles applicable.
These principles shall be the subject matter of our study for
the remaining Units in this Block.
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Suggested Reading
Books
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