You would be surprised to know that the Transfer of Property Act doesn’t provide the definition of “immovable property” in detail. Paragraph 2 of Section 3 states that the immovable Property doesn’t include grass, growing crops, or standing timber.
I know this is not a satisfactory definition. According to several references and common understanding, immovable property is any asset that can’t be relocated or shifted.
Some Examples of Immovable Property:Plants attached to the ground, land, houses
Machinery, receptacles meant for commercial work
Factory Buildings
Contract to cut bamboos for a certain period
Slag dumps, quarries, or mines
Fertilizer utilized on a garden or farmland
Any Government contracts related to public work, servitudes, or other legal rights over a property
| Basis | Immovable property | Movable property |
Examples |
Real estate like a house, warehouse, manufacturing plant, land, factory, hereditary allowances, etc. |
Computers, money, watches, Jewellery, etc. |
Inheritance |
Is not divisible or breakable easily |
Can be partitioned easily |
When used as a security |
Lien/Mortgage |
Pledge |
Registration |
Should be registered under the Registration Act, 1908, if its value is more than Rs. 100/-. |
Not Needed |
Transfer |
Can’t be transferred without a partition, gift deed, will, or and simultaneous registration of the property in the name of the beneficiary. |
Can be transferred easily |
Read more:
What is gift deed of immovable property?
Is succession certificate required for immovable property?
What is Movable and Immovable Property?
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What is immovable property under Transfer of Property Act?
Pourush
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2021-12-29T17:50:56+00:00 2021-12-30T17:47:55+00:00Comment
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