'Transfer of Property\r'

'THE TRANSFER OF PROPERTY ACT, 1882 PERSONS COMPETENT TO TRANSFER (Section-7 ) Submitted by: Ananya mohapatra BBA-LLB (A) 5th Semester 1082015 PERSONS COMPETENT TO TRANSFER (Section-7) Every person suitable to contract and en backupd to impartable airplane propeller, or authorized to dispose of conveyancingable topographic point non his own, is workmanlike to expatriation such property every wholly or in part, and either absolutely or conditionally, in the circumstances, to the extent and in the manner, allowed and positivist by any fair play for the time fundament in force.Who is a Transferor? Every person who is competent to contract as per the Indian mash mask is excessively competent to transfer a property provided that he is authorized to transfer it as per the law. The border â€Å"authorized” needs to emphasize. If transferor is not possessor of the property he purports to transfer he essential parade that he is otherwise authorizes by law to transf er the property. Who is a Transferee? As far as a transferee is concerned thither is no such requirement that he essential be competent to contract.So, a minor, lunatic- all they can be transferees. However, a few limitations are there. First in the lease of lease both transferor and transferee create to be major or otherwise competent to make contract. Second, if a gift is do to a minor, it has to be accepted by its guardian. Apart from these, there may also be some fussy provisions which attach some (dis)qualification to a person wanted to be a transferee. For Eg: S. 136 of the T. P. Act provides that officers of the lawcourt including judges and advocates cannot be assignee of actionable claims.COMPETENT TO TRANSFER low S 6(h) (3), any person is competent to be a transferee, unless legally dis able. This section deals with the competency of a transferor. The transferor must be- a) competent to contract; and b) have title to the property or authority to transfer it if not hi s own. COMPETENT TO CONTRACT This is the same condition as is enacted by S 7 of the Indian Trusts Act, 1882 for the creation of a trust. S 11 of the Indian pack together Act 1872 defines the capacity to contract.The power to transfer must depend upon the power to contract, for without an antecedent contract to fox and take; there can be no transfer at all. MINOR AS A TRANSFEROR The transferor must have attained the age of mass according to the law to which he is subject. The Privy Council held that a contract by a minor is nullity and so therefore the transfer by a minor is also void. Although a minor is not competent to transfer, yet a transfer to a minor is valid. LUNATIC AS A TRANSFEROR below S. 2 of the Indian Contract Act 1872, a person is of sound mind for the purpose of qualification a contract if he is capable of taking into custody and of forming a rational judgment as to its found upon his interests. A contract made by a lunatic is void under the Indian Contract Ac t 1872, and so also a transfer by him of his property is void. Disqualified to contract A statutory disqualification to contract imports, as in the fiber of a minor, inability to transfer. Such a disqualification ensues when the owner’s property is under the management of the lawcourt of Wards, or of an officer appointed under encumbered Estates Act.A judgment debtor whose property is being exchange in execution by the collector is also incompetent to alienate. Oral Transfer: Formalities of a Transfer Section 9 of the TP Act states that in every case where writing is not essential a transfer can be made orally. The meaning is that if writing is not required by Law- property can be transferred by address of possession of the property. Pre-requisites of a valid transfer: 1) topographic point must be transferable S. 6 2) Transferor must be competent to contract and should not be disqualified under any special law S. 3) Transferee should also not be qualified under special law S. 7 4) juristic formalities required by law should be fulfilled S. 9 5) Consideration and object of transfer should not be contrary to law or public policy S. 6(h) (A person’s adopt in collecting rents and managing an estate of the landlord does not give him to transfer the land as the landlord’s agentive role; Balai Chandra Mondal v. Indurekha Devi, AIR 1973 SC 782. ) ____________________________________________________________________\r\n'