Section 5 of Transfer of Property Act, 1882 provides a crucial definition that lays the foundation for understanding property transactions. Let’s dive into its essence:
Transfer of Property Defined: According to this section, the term “transfer of property” encompasses an act by which a living person conveys property, either presently or in the future, to one or more other living individuals or even to oneself and one or more other living persons. In simpler terms, to transfer property is to perform such an act.
The definition includes both direct transfers from one person to another and self-transfers (where the person conveys property to themselves along with others).
It’s important to note that the term “living person” also encompasses
companies,
associations, or
bodies of individuals, whether incorporated or not. However, existing laws related to property transfers involving companies, associations, or groups of individuals remain unaffected.
This is all about
section 5 TPA.
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What is Section 5 of Transfer of Property Act?
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2024-01-02T10:57:09+00:00 2024-01-05T15:24:35+00:00Comment
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