LegalCrystal – Blog

CHAPTER VII

OF GIFTS

122. “Gift” defined.

“Gift” is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee.
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1. Subs. by Act 20 of 1929, s. 59, for the original section.
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Acceptance when to be made.-Such acceptance must be made during the lifetime of the donor and while he is still capable of giving.
If the donee dies before acceptance, the gift is void.

123. Transfer how effected.

For the purpose of making a gift of immoveable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.

For the purpose of making a gift of moveable property, the transfer may be effected either by a registered instrument signed as aforesaid or by delivery.

Such delivery may be made in the same way as goods sold may be delivered.

124. Gift of existing and future property.

A gift comprising both existing and future property is void as to the latter.

125. Gift to several, of whom one does not accept.

A gift of a thing to two or more donees, of whom one does not accept it, is void as to the interest which he would have taken had he accepted.

CHAPTER VI

OF EXCHANGES

118. “Exchange” defined.

When two persons mutually transfer the ownership of one thing for the ownership of another, neither thing or both things being money only, the transaction is called an “exchange”.

A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such property by sale.

119. Right of party deprived of thing received in exchange.

If any party to an exchange or any person claiming through or under such party is by reason of any defect in the title of the other party deprived of the thing or any part of the thing received by him in exchange, then, unless a contrary intention appears from the terms of the exchange, such other party is liable to him or any person claiming through or under him for loss caused thereby, or at the option of the person so deprived, for the return of the thing transferred, if still in the possession of such other party or his legal representative or a transferee from him without consideration.

120. Rights and liabilities of parties.

Save as otherwise provided in this Chapter, each party has the rights and is subject to the liabilities of a seller as to that which he gives, and has the rights and is subject to the liabilities of a buyer as to that which he takes.

121. Exchange of money.

On an exchange of money, each party thereby warrants the genuineness of the money given by him.

THE TRANSFER OF PROPERTY ACT, 1882

ACT NO. 4 OF 1882

[17th February, 1882.]

An Act to amend the law relating to the Transfer of Property by act of Parties.

Preamble.

WHEREAS it is expedient to define and amend certain parts of the law relating to the transfer of property by act of parties; It is hereby enacted as follows –

CHAPTER I

PRELIMINARY

1. Short title Commencement.

This Act may be called the Transfer of Property Act, 1882.

It shall come into force on the first day of July, 1882.

Extent.

1*[It extends2* in the first instance to the whole of India except 3*[the territories which, immediately before the 1st November, 1956, were comprised in Part B States or in the States of], Bombay, Punjab and Delhi.

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1. Subs. by the A. O. 1950 for the original third paragraph.

2. The application of this Act was barred in the Naga Hills District, including the Mokokchang Sub-Division, the Dibrugarh Frontier Tract, the North Cachar Hills, the Garo Hills, the Khasia and Jaintia Hills and the Mikir Hills Tract, by notification under s. 2 of the Assam Frontier Tracts Regulation, 1880 (2 of 1880).

The Act has been declared to be in force in Panth Piploda by the Panth Piploda Laws Regulation, 1929 (1 of 1929), s. 2, and continued in force, with modifications, in the territory transferred to Delhi Province by the Delhi Laws Act, 1915 (7 of 1915), s. 3 and Sch. III. It has also been partially extended to Berar by the Berar Laws Act, 1941 (4 of 1941).

The Act has been extended with effect from 1st January, 1893, to the whole of the territories, other than the Scheduled Districts, under the administration of the Govt. of Bombay.

Ss. 54, 107 and 123 have been extended from 6th May, 1935, to all Municipalities in the Punjab and to all notified areas declared and notified under s. 241 of the Punjab Municipal Act, 1911 (Pun. 3 of 1911), see Punjab Gazette, Extraordinary, 1925, p. 27. Those ss. and s. 129 have been extended to certain areas in Delhi Province, see notifications No. 198/38-III, dated 30th May, 1939, Gazette of India, 1939, Pt. I, p. 918, and No. 61/40-Judl., dated 16th November, 1940, Gazette of India, 1940, Pt. I, p. 1639, respectively.

CHAPTER II
OF TRANSFERS OF PROPERTY BY ACT OF PARTIES

(A) Transfer of Property, whether moveable or immoveable

5. “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, 4*[or to himself] and one or more other living persons; and “to transfer property” is to perform such act.
4*[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.
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1. Added by Act 3 of 1885, s. 3.
2. Subs. by Act 20 of 1929, s. 5, for "1877".
3. Nothing in Chapter II is to be deemed to affect any rule of Muhammadan Law--see section 2, supra.
4. Ins. by Act 20 of 1929, s. 6.
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What may be transferred

6. Property of any kind may be transferred, except as otherwise provided by this Act or by any other law for the time being in force.
(a) The chance of an heir-apparent succeeding to an estate, the chance of a relation obtaining a legacy on the death of a kinsman, or any other mere possibility of a like nature, cannot be transferred.
(b) A mere right of re-entry for breach of a condition subsequent cannot be transferred to any one except the owner of the property affected thereby.
(c) An easement cannot be transferred apart from the dominant heritage.
(d) An interest in property restricted in its enjoyment to the owner personally cannot be transferred by him.
(dd) A right to future maintenance, in whatsoever manner arising, secured or determined, cannot be transferred.]
(e) A mere right to sue 2*** cannot be transferred.
(f) A public office cannot be transferred, nor can the salary of a public officer, whether before or after it has become payable.
(g) Stipends allowed to military 3*[,naval], 4*[air-force] and civil pensioners of 5*[Government] and political pensions cannot be transferred.
(h) No transfer can be made (1) in so far as it is opposed to the nature of the interest affected thereby, or (2) 6*[for an unlawful object or consideration within the meaning of section 23 of the Indian Contract Act, 1872 (9 of 1872),] or (3) to a person legally disqualified to be transferee.