Modes of transfer of property

PROCEDURE OF TRANSFER OF IMMOVABLE PROPERTY - Singhania And. What is transfer of property? Can transfer of property be transferred? While particularly discussing the transfer of immovable properties, it has to be noted that it may happen in certain ways only.

The various ways or modes of transfer of immovable property are : Sale – Section 54:-this is the first mode of transfer of property.

It includes entering of a sale contract between two parties. TRANSFER BY GIFT When person transfers his flat without any considerations to any other person vide a Gift. Property can be transferred by different modes or ways viz. To Sell a property is to transfer ownership of property in exchange for a price or promise.

Essential elements of Sale - The parties must be competent. The property must be immovable property. There are various modes of transfer of immovable property like transfer by sale, gift, lease, and mortgage.

The transfer takes place vide instrument called transfer deed.

As per the nature of transfer , the deed can be sale dee lease dee mortgage deed etc. Transfer of immovable property may happen only in certain ways. They can either be through sale, mortgagee, lease, and gifts or through actionable claims. These are modes of transfer.

Sale is an out-and-out transfer of property. In mortgage, there is a transfer of limited interest in property. A lease is a transfer of a right to enjoy immovable property for a certain time or in perpetuity. Exchange is like a sale, but differs from it as regards the consideration. They may also be acquired by means of prescription.

You can transfer most property by simply handing it over to the other person. MODES OF ACQUIRING OWNERSHIP 1. However, some property is so valuable that there are state rules for transferring the property. For example, if you transfer a vehicle or real estate, then you will need to fill out certain paperwork and then record the transfer with the appropriate government agency. There are four important modes of acquisition of property - possession, prescription, agreement, inheritance.

When there is a contract for the sale of unascertained goods, no property in the goods is transferred to the buyer unless and until the goods are ascertained. He is entitled to transfer the property which is immoveable. Generally transfer of property is made by the owner of the property.

Who is not owner, he cannot transfer the peoperty. Delivery of property Delivery of property is one of the most famous modes of executing a treaty. Ownership is acquired by occupation and by intellectual creation.

According to Order XXI Rule 7 it is said that when the property that is sold is a movable property of which actual seizure has been made, it shall be delivered to the purchaser.