tpa sec5

TRANSFER OF PROPERTY ACT PROJECT REPORT:

SECTION 5 OF THE TRANSFER OF PROPERTY ACT, 1882

Submitted to:

Submitted by:

Pro! R"#i$der R"#i$d er

%i&r"$t Attri

   

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'!A!((!')Ho$*!+t- Sem 15.12

AC/NO0(EE3ENT I express my sincere gratitude to “ Pro! R"#i$der ” for her inspiration, expert guidance, moral  boosting, continuous encouragement and appreciation which are the vital factors in successful completion of my project work. I humbly acknowledge deep gratitude towards my teacher. Thanking ou.

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CONTENTS • • • • • • • • • • • •

Se4tio$ 5 o TPA,1882 !cknowledgement Table of "ases Transfer of #roperty whether movable or immovable Introduction Ingredients Transfer of #roperty is an !ct $iving #erson "onveys In #resent or in %uture To &imself  'hether the following amounts to transfer under section ( of T#!, )**+ ibliography

TA'(E OF CASES ).  Ma Kyin Hone v. Ong Boon Hock  !I- )/0 -ang.10 +.  Sunil Sidharthbhai v. Commissioner of Income Ta  !I- )*2 3" /2* Page 3

• • • •

• • •

 Krishna Kumar Khemka v. !rindlays Bank "#C$ %I& '((' SC )((.  Bhu*ati +ath v. &am #al ,'('- /0 Cal. '1). 2sha &ani Kundu v. %gradut Sangha and other$ %I& 1--3,+OC('' Cal.  %shrafi 4evi v. "rem Chand$ %I& '(0' %##560   Har +arain v. Bank 2**er India$ %I& '(/) Oudh )5  7ugal Kishore v. &a8 Cotton Co. #td,'(11 15 Bom. #& )3'  &e Mahomed Hasham9 Co4'(-0 /'. Bom. '36  Shumsuddin v. %bdul Husein  %I& '(66 SC5)'  Sadhu Madho 4as v. "andit Mukund &am$ %I& 1--3 SC //-5  &amdeo:oods "roducts "vt. #td.v. %rvindbhai &ambhai "atel$ %I& 1--3  Tek Bahadur v. 4evi Singh %I& '(33   Munia**a "illai v. "eriasami$,'(06 ' M#7 1/3   M. Krishna&%o v. M.# +arasikha &ao$ %I& 1--/ %" 5()  Morati v. Krishna ,'(16 +ag.566  Kalka v. 7as8ant$ ,'(13 Oudh 3(

T-e Tr"$*er o Proerty A4t, 1882 are #rovision of the !ct "hapter II 5f Transfers of #roperty by !ct of #arties

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)A+

Tr"$*er o Proerty 6-et-er mo7"be or immo7"be

9Tr"$*er o Proerty: Se4tio$ 5 of Tr"$*er o Proerty A4t , 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 one or more living persons6 and to “transfer of   property” is to perform such act. In this section 9i7i$; er*o$  includes a company or association or body of individuals whether  incorporated or not, but nothing contained herein shall affect any law for the time being in force relating to transfer of property to or by companies, associations or body of individuals.+ The analysis of this definition makes it clear that transfer of property is78 )i+ )ii+ )iii+ )i7+ )7+ )7i+

"$ "4t by 6-i4-, " i7i$; er*o$, 4o$7ey*, i$ re*e$t or uture, roerty, to "$ot-er i7i$; er*o$ or to -im*e!

Tr"$*er o Proerty: A$ I$trodu4tio$ The word 9tr"$*er  is defined with reference to the word 94o$7ey . This word in 9nglish $aw in its narrower and more usual sense refers to the transfer of an estate in land6 but it is sometimes used in a much wider sense to include any form of assurance inter vivos. The word “conveys” in 3ection ( of the Indian !ct is used in the wider sense referred to above. Transferor must have an

1 Ins. by !ct +: of )+, 3ec 2 2 Ibid Page 5

interest in the property. &e cannot sever himself from it and yet convey it/. ! lease comes within the meaning of word ;transfer< 1. The word 4-"$;e or " *imi"r ri;-t rom t-e 4oB*-"rer!

The @arnataka &igh "ourt followed this line of decisions and held that a partition is not a transfer, reason being no conveyance is involved because everyone had an antecedent title.  In !iri=abai v. Sadashiv$ #rivy "ouncil held that partition does not give a person new title but it only enables him to obtain what is his own in a definite and specific form. In  Sarin v. "o*lai 15 $ ".C observed that “the true effect of partition is that each coparcener gets specific property in lieu of his undivided interest in respect of the totality of the property of the family.”

+ Surre$der: 3urrender is not a transfer of property as defined in 3ection. 3urrender means

merging of a lesser interest with a greater interest in such a manner that the greater nest is not enlarged. 3urrender is therefore falling of lesser estate into greater. %or example, ! is a landlord and  is his tenant. ! as landlord has ownership of the house. 5wnership or absolute interest is a greater interest.  as a tenant has also an interest in !