transfer of property
Section 5 of the Transfer of Property Act, 1882 defines transfer of property as an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and others. “Living person” includes a company and an association of individuals. The Act covers transfers between living persons (inter vivos); succession on death and transfers by operation of law (such as court sales) are outside it.
Section 6 says property of any kind may be transferred, except items such as a chance of succession (spes successionis), a mere right of re-entry, an easement apart from the dominant heritage, a right to future maintenance, and a mere right to sue. The main transfers are sale, mortgage, lease, exchange, gift and actionable claims.
Example
A will is not a transfer of property under Section 5, because it operates only after the testator's death.
In Indian law
- Sections 5 and 6, Transfer of Property Act, 1882
See also
inter vivos · spes successionis · immovable property · gift
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