- Which of the following properties or interests Cannot be transferred?
- What is the rule against perpetuity What are the exceptions to this rule?
- Can a right to sue be transferred?
- How many sections are there in the Transfer of Property Act?
- What is actionable claim?
- Can a property be transferred to an unborn person?
- Which states have abolished the rule against perpetuities?
- What kind of property Cannot be transferred?
- What is difference between ostensible owner and Benami transaction?
- What does transfer of property means?
- Can a person transfer any property to himself?
- Who are capable of transferring the property?
- What is the purpose behind the rule against perpetuities?
- Who is ostensible owner?
- What is the legal meaning of in perpetuity?
- How can immovable property be transferred?
- What is doctrine of part performance?
- What is meant by transfer of property in goods?
Which of the following properties or interests Cannot be transferred?
Stipends related to Military, Naval, Air Forces, Civil Prisoners, government pensions, etc are personal rights and cannot be transferred.
There is no prohibition in law that ownership in a property cannot be gifted without its possession and right of enjoyment..
What is the rule against perpetuity What are the exceptions to this rule?
Following are the nine exceptions to the rule against perpetuity: 1) Vested interest is not affected by the rule because once the interest are vested it cannot be bad for remoteness. … 8) The rule also does not apply where only charges is created which does not amount to a transfer of an interest.
Can a right to sue be transferred?
A mere right to sue, as for instance, in respect of damages for breach of contract, or for tort, cannot be transferred. The object of the prohibition is to prevent gambling in litigation. Moreover, a right to sue is personal to the party aggrieved.
How many sections are there in the Transfer of Property Act?
137 sectionsThe Transfer of Property Act was introduced on February 17, 1882. It came into effect on July 1, 1882. The Act consists of eight chapters and 137 sections.
What is actionable claim?
Actionable Claim: is a claim to any debt, other than secured by mortgage of immovable property or pledge or hypothecation of some movable property, or to any beneficial interest in movable property, not in possession either actual or constructive of the claimant.
Can a property be transferred to an unborn person?
It is to be noted that a child in mother’s womb is considered to be in existence according to the law. Form a trust: The property can be transferred to an unborn child but through a trust, not directly. If a trust is not formed, the property must be transferred in favor of a living person and then to the minor.
Which states have abolished the rule against perpetuities?
These states are Alaska (repealed the rule for vesting of property interests), Delaware (repealed entirely for personal property interest held in trust; 110 year rule for real property held directly in trust), Idaho, Kentucky (repealing the rule interests in real or personal property), New Jersey, Pennsylvania, Rhode …
What kind of property Cannot be transferred?
An interest in property restricted in its enjoyment to the owner personally cannot be transferred by him. A right to future maintenance, in whatsoever manner arising, secured or determined, cannot be transferred. A mere right to sue cannot be transferred.
What is difference between ostensible owner and Benami transaction?
Benami transactions are where the real ownership lies in another who pays the consideration, while the ostensible ownership lies in the benamidar who only lends his name to the title deeds.
What does transfer of property means?
In the following sections “transfer of property” means 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 other living persons; and “to transfer property” is to perform such act.
Can a person transfer any property to himself?
Thus the conveyance of the property must be from one living person to another living person. However transferee need not be a competent person like transferor. … A transfer can be made by a person to himself, as for instance when a person vests property in trust and himself becomes the whole trustee.
Who are capable of transferring the property?
According to this section, transfer of property means an act by which a living person conveys the property in present or in future:To one or more other living persons, or.To himself, or.To himself or one or more other living persons, and to transfer such property is to perform such act.
What is the purpose behind the rule against perpetuities?
The rule against perpetuities is a legal rule in the Anglo-American common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written.
Who is ostensible owner?
An ostensible owner means a person who appears to be the owner of a particular property but is not. He is not a trespasser or person having unlawful possession of the property. He behaves like the owner of the property with the consent or conduct of the real owner itself.
What is the legal meaning of in perpetuity?
One of the most common is the phrase “in perpetuity.” According to Black’s Law Dictionary, the definition of “in perpetuity” is “… that a thing is forever or for all time.” … This phrase is also used in situations where certain contract clauses will survive termination of the contract.
How can immovable property be transferred?
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. Contract of sale of immovable property is basically a contract, which states terms for the permanent transfer of property.
What is doctrine of part performance?
Doctrine of Part Performance is an equitable doctrine and it is incorporated to prevent fraud and from taking illegal advantage on account of non-registration of the document. This Doctrine is based on the maxim, Equity look at as it is done which ought to have been done.
What is meant by transfer of property in goods?
Page 1. Transfer of property in goods. Meaning of Passing of Property/Transfer of Property. Passing of property implies transfer of ownership and not the physical possession of goods. For example,where a principal sends goods to his agent,he merely transfers the physical possession and not the ownership of goods.