Text Book on The Transfer of Property Act

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Description
Property litigation is now growing, the reason being vastness of property areas both urban and rural, whether they be in housing, business, industrial or agricultural uses. It was quite natural that there should have been a greater number of property disputes because of the expanding scope of property and real estate interests and investments. Property transactions are now there is much greater number than ever before. They are taking shape in transfers, mortgages, leases, tenancies and licences. Matters of transactions by way of gift have also increased in number. Reports are now full of decisions on property disputes of all kinds of dealing. Only an epitome can be given in this preface of their range. All co-sharers have to sign sale papers. Power of Attorney is only a method of creating an agency for transfer of specific property. Hence, it is a revocable power. Property sold with a right of repurchase can to resold again by the original seller as long as the right of repurchase is exercisable. There is nothing personal in the right of repurchase. Other enactments can override provisions of the TPA so as to curtail rights created under it. The Supreme Court has explained the concept of a pendency of a suit or proceeding for purposes of any effect upon transactions during such pendency. The rule of pendency does not make transactions relating to the property to be void but only subject to the ultimate decision. This would be so even if vast publicity was given to the pendency through the print media. A widowed Hindu woman marrying a Christian did not lose her right to inherit deceased husband's property. A development agreement may carry a deemed transfer. Where the property is being sold by Court, the mortgagor's right to redeem remains alive till the Court certifies sale. It has been judicially considered whether a seller of property is under a duty to disclose if he knows that the property is under Government consideration for acquisition. The position of a mortgagee's transferee in the matter of rights is the same as that of the mortgagee. The similar will be status of a mortgagee's lessee. The role of memorandum of deposit of title deeds has been considered in the context of an equitable mortgage and also the effect of redemption by one of co-mortgagors as between them. An allotment of land for establishing an amusement park was found to be a licence. An arbitration clause in a lease agreement does not survive after expiry or termination of the lease. The Supreme Court has explained the concept of a permanent structure in the context of a property under lease. Renewal of lease requires bilateral agreement. Mere acceptance of rent, that too in ignorance of expiry, is not renewal. Default in payment of lease money cannot be a ground of forfeiture unless there is a clause to that effect in the lease deed. It creates only the right to recover overdue rent. A benami purchase does not amount to a gift to the benami holder. Gift to an idol or a deity does not require registration, such gifts can also be oral.
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Contents
Chapter I - Preliminary
Chapter II - Transfers of Property by Act of Parties
Chapter III - Of Sales of Immovable Property
Chapter IV - Of Mortgages of Immovable Property and Charges
Chapter V - Of Leases of Immovable Property
Chapter VI - Of Exchanges
Chapter VII - Of Gifts
Chapter VIII - Of Transfer of Actionable Claims
Often Asked Questions, Short Notes & Practical Problems with Solutions
Subject Index
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Author Details
Dr. Avtar Singh
B.Com., LL.M., LL.D (Lucknow)
Vidya Bhushan, Hindi Sansthan, U.P
Ex Reader in Law, Lucknow university
Ex Professor of Business Law, I.I.M., Lucknow
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