1/18/2024 0 Comments Conveyance of property meaning![]() Under Section 122 of this Act, the dedication to a deity or idol does not come within the purview of this Act because of the condition that such gift should be given in the lifetime of donee and deity or idol are not living persons. Hence corporations, companies, firms, idols and deity who are juristic persons can hold property. But the Act includes company or association or body of individuals, whether incorporated or not. The transfer of property should be between living persons. There may be condition precedent or subsequent, covenants or restraints. The Court held that it is not a transfer of property and opined that it is permissible under Act to make a conditional transfer or settlement accompanied by transfer. Thimmegowda AIR 2004 SC 2428 case, the settlement deed was found to be only an entrustment of the property with power of revocation reserved by the executant. Malvarayan AIR 1936 Mad 918 case, the Court held that the document of transfer shows the change of ownership. Where transferee already has some interest in the property prior to its conveyance in his favour, it is not conveyance and it is not a transfer of property. State of West Bengal AIR 1967 Cal 191 case, the Court held that the person conveying the property is entitled to the property sought to be conveyed to the person who has no title to it otherwise. The term ‘person’ includes company or association or body of individuals, whether incorporated or notįor transfer of property, the property must be conveyed by the transferor to the transferee.Property may be transferred in the future or in present.Property may be conveyed to one or more other living persons, or to himself, or to himself and one or more other living persons.Conveyance is inter vivos means between living persons.In this section “living person” includes a company or association or body of individuals, whether incorporated or not, but nothing herein contained shall affect any law for the time being in force relating to transfer of property to or by companies, associations or bodies of individuals.įrom the definition, we can write the following characteristics of a Transfer of a Property. ![]() 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, or to himself and one or more other living persons and “to transfer property” is to perform such act. Section 5 of Transfer of Property Act, 1882:
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