Kumar Kislay, Christ (Deemed To be) University, Delhi NCR
ABSTRACT
The transfer of Property Act,1882 contains specific provisions regarding what constitutes transfer and the conditions attached to it. According to the Act, “ transfer of the property” means an act by which a person conveys property to one or more persons, or oneself and one or more other persons. The act of transfer may be done in present or for future. The person may include an individual, company or association or body of individuals, and any kind of property can be transferred.
A transfer of property passes forthwith to the transferee, all the interest which the transferor is then capable of passing in the properties, unless a different intention is expressed or implied.
According to Section 43 of the Transfer of Property Act,1882, in case a person either fraudulently or erroneously represents that he is authorized to transfer certain immovable property and does some acts to transfer such kind of property for consideration, then such a transfer will continue to operate in future. It will operate on any interest which the transferor might acquire in such property.
This will be at the option of the transferee and can be done during the time during which the contract of transfer exists. According to this rule, the rights of bona fide transferee, who has no notice of the earlier transfer or of the option, are protected. This rule embodies a rule of estoppel i.e., a person who makes a representation cannot later on go against it.
Each individual, whoever is competent to contract, is competent to transfer property, which could be transfer in whole or in part. One should be entitled to the transferable property, or authorized to dispose off transferable property which is not his own.
The right may be either absolute or conditional, and the property may be movable or immovable, present or future.
