STUDY MATERIAL for PROPERTY LAW

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Property Law Objectives The student shall be able to understand the different types of transfer recognized by law. They shall have a clear idea about the various types of transfer like sale, mortg... age, lease, exchange gift & actionable claim. They shall also become familiar to the various requirements of a valid transfer. They shall also understand in detail the effect of various elements like conditions, election, and apportionment on the transfer. They shall also understand the status of a transfer when made by certain other persons. UNIT-I Section 1 of the act is called as the transfer of Property Act, 1882. Section 1 gives the title of the act. It is helpful in some instances as an internal aid for the interpretation of any provision in the Act. The title gives the idea about the object of the Act, policy & purpose of the Act. Application of the Act: the T.P Act applies to transfers by acts of parties. & not by the operation of law The act deals with transfer of property between two living persons. The majority of the act deals with transfers relating to immovable property. This act does not apply to transfer of property governed by personal law, for ex, Mohammedan Law. Section 3 defines Immovable Property We know that property is the total wealth of a person. It may include land, buildings, mortgage rights, debts owed to him, insurance money due, cheque received, cash, etc. The Transfer of Property Act, 1882, defines immovable property as that which does not include standing timber, growing crops and grass. This is a very vast definition though, so we must look at the definition furnished by the General Clauses Act, 1897, wherein it is mentioned that immovable property includes – a) land, b) benefits arising out of land, c) things attached to the earth, or d) permanently fastened to anything attached to the earth. Also, the Registration Act defines immovable property as land, buildings, hereditary allowances, rights to ways, lights, ferries, fisheries, or any other benefits arising out of land and things attached to the earth, but not standing timber, growing crops or grass. Actionable claim is dealt with in the Transfer of Property Act. [Show More]

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