Property transfer is not an easy task. You will have to know, among other things, whether the property in question is free of any legal dispute or not, whether the owner of the property is actually the true and sole owner or not, and more. We once planned to buy a property but later learned that the person trying to sell it was not its actual owner. Our lawyer explained to us what is Section 43 of Transfer of Property Act that day, and I believe all of you who are planning to buy a property must know about it. Read this answer to the end and know its relevance.
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What does Sec 43 Transfer of Property Act state?
Section 43 of the Transfer of Property Act states that no immovable property can be transferred by a person who does not have any claim or right over it. If anyone does so, the transfer will be considered void. Let me cite an example for a better understanding
Suppose a person named A is trying to sell a property named X to a buyer named B. Now, in order to transfer the property, A must be the actual owner of it. In any case, if it is found that A is not the actual owner after the transfer of the property is complete, the transfer will not be considered legal and will become void. It is hence very necessary to find out whether the person selling a property is actually the owner of it or not. (always look for the property documents, sale deed, tax receipts and more before buying a property)
On what aspects is the Transfer of Property Act Section 43 based?
Section 43 is based on two aspects-
The doctrine of estoppel- A rule that prevents an individual from taking a position inconsistent with what he has promised.
Equitable estoppel- A doctrine that prevents a party from asserting a right or making a claim that contradicts what was previously agreed.
This is the basic idea about the Section 43 of Transfer of Property Act.
Read More: How to transfer property from husband to wife after death? How to transfer property from father to son after death in India?
What is Section 43 of Transfer of Property Act?
Leelabati
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2023-04-19T10:19:22+00:00 2023-04-20T08:16:20+00:00Comment
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