“Transfer of property” defined.—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, 1[or to himself] and one or more other living persons; and “to transfer property” is to perform such act. the seller and the buyer have to be competent to … Section 5 of T.P. interestingly, the supreme court further observed. To constitute a valid sale, the critical elements in a sale deed are: (a) The property, being the subject matter of … Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. A sale deed usually consists of the following information- Details of the buyers and sellers (name, age and addresses) - Further, under the Transfer of Property Act, a Gift deed is mandatory to be registered. Act defines Transfer of Property and by bare reading of the section it can be understood that the same means an act by which a living person conveys property in present or in future to one or more living persons, (including/excluding) himself. It also deals with the rights of a transferee in this type of a transaction. The seller transfers the right of ownership to the buyer through sale deed. There are multiple documents required to prove the ownership of the property while selling and buying the property. Exchange is a transfer where a property is changed with another property. Mortgage by conditional sale.—Where, the mortgagor ostensibly sells the mortgaged property— on condition that on default of payment of the mortgage-money on a certain date the sale shall become absolute, or on condition that on such payment being made the sale shall become void, or on condition that on such payment being made the buyer shall transfer the property to the seller, the transaction is … The seller has to be competent to transfer the immovable property to the buyer.

Section 54 of the Transfer of Property Act, 1882 (TP Act), defines a sale as a transfer of ownership of an immovable property for a consideration. A sale deed is a legal document that proves that the seller has transferred the absolute ownership of the property to the purchaser. Reported in : AIR2001Bom179; 2001(2)ALLMR1..... of any decree. To make the transfer valid it is mandatory to register a gift deed with the sub-registrar as per section 17 of the Registration Act, 1908, and section 123 of the Transfer of Property Act.

There are multiple documents required to prove the ownership of the property while selling and buying the property. In simple words, we can define mortgage as a legal agreement by which a bank, building society (creditor), etc lends money at interest in exchange for taking title of the debtor’s property, with the condition that the conveyance of title by the debtor to the creditor becomes void once the debt is fully paid off. Both parties i.e. Reclamation for cultivation of a major part of banjar land with the help of the money acquired by selling a small part of it [ 24 ] . Law relating to the Transfer of Property by Act of Parties. Essential Elements of Sale: a) Parties: in a sale there has to be a seller and buyer.

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