India to regulate the transfer of property we have Transfer of property Act
1882. As per the property Act 1882. we have the guideline which tells us about
the conditions and the provisions what constitute transfer.
Transfer of property means a person could transfer any kind of property, which could be movable property or immovable property. As per the transfer of property act a person can convey the property one or more than one person. He may convey the property to himself too. Here the person could be company, individual, association or body of individuals.
The transfer of property act could also be done for the future and present both.
How property law interprets the property?
We can categories the property broadly into two parts as per property Act:-
- Movable property
- Immovable property
Immovable property includes the thing which cannot be moved from one place to another place, basically the things which are attached to the earth or has been permanently fixed to the earth can be classified into the immovable property as per property Act. We can further take examples as buildings, land, hereditary allowances, ferries lights, right to ways or any kind of benefits which is attached to land and arise out of land.
Exceptions: - Growing crops, Grass, Standing Timber.
Every person could become competent to transfer property if he is competent to contract, which could be again transferred in part or in whole.
Oral transfer under property law in India:
As per the property Act in case of transfer the oral transfer is also possible if in that case writing is not required by law.
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