Property Law


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Property Law

  1. 1. Property Law
  2. 2. Property Law  Indefinite in point of user  Unrestricted in point of disposition  Unlimited in point of duration Ownership can thus be described as the entirety of the powers of use and disposal allowed by law, limited only by the rights which have been detached from it
  3. 3. Property Law  Juristically the term Property is used synonymously with the right of ownership. The most comprehensive and supreme right that can be exercised over anything.  According John Austin Ownership is said to exist when  The right is available against the whole world (jus in rem)  Over a determinate thing Continued ………….
  4. 4. Property Law  Categories of property  Moveable and immovable  Moveable  Transitory  Liable to be consumed or destroyed in usage  Not a subject of perpetual or uniform enjoyment  Dealt with by the Sales of Goods Act  Sale Of Goods include  Stocks, shares , growing crops, grass and things attached to or forming part of land which are agreed to be severed before sale or under the contract of sale  Sale of Goods exclude  actionable claims and money Continued ………………………………….
  5. 5. Property Law  Immovable  Indestructible  Capable of perpetuity  Dealt with by the Transfer of Property Act  Tangible and intangible  Tangible  It must necessarily be corporeal  Intangible  copy rights and patents
  6. 6. Property Law  Sale and Agreement to Sell  Section 4(1) A contract of sale of goods is a contract where by the seller transfers or agrees to transfer the property in goods to the buyer for a price such a contract maybe absolute or conditional  Section 4(3) An agreement to sell stipulates that where the transfer of property is to take place at a future time or subject to some condition thereafter to be fulfilled is an agreement to sell
  7. 7. Property Law Sale Agreement to Sell  Transfer of Property  An executed contract property  An executory contract transfer of Passes from seller to buyer property takes place at a future time immediately subject to conditions to be fulfilled  Type of Goods  Mostly in case of future and contingent  Only in case of existing and specific goods goods  Risk of loss  Loss falls on the seller even if the  If the goods are destroyed the buyer goods are in the possession of the bears the loss even if the goods are buyer in the possession of the seller Continued ………………………..
  8. 8. Property Law Sale Agreement to Sell  Consequences of Breach  Seller can sue for the price even  Seller can only sue for damages not for though the goods are still in his the price even though the goods are in the possession of the buyer possession  Right to Resell  In the event of resale the buyer who  Cannot resell goods (except in case takes the goods for consideration and of unpaid seller under section without notice of the prior agreement 54/section 30) gets a good title. In such a case the original buyer can only sue the seller for damages Continued ………………………..
  9. 9. Property Law Sale Agreement to Sell  General and particular property  Creates jus in rem  Jus in personam i.e. gives the right to the buyer to sue the seller only for damages  Insolvency of Buyer  The seller is not bound to part  The seller in absence of lien over with the goods the goods must return them to the official receiver he can only claim a rateable dividend for the price of the goods Continued ………………………..
  10. 10. Property Law Sale Agreement to Sell  Insolvency of Seller  The buyer being the owner is  The buyer can claim rateable dividend entitled to recover the goods from and not the goods because property in the official receiver or assignee them has not yet passed to them
  11. 11. Property Law Buyers Rights  Right of examining the goods  Acceptance of delivery  If he intimates the seller that he has accepted the goods  When time lap lapses without intimating the rejection  Not bound to return rejected goods  Resale of rejected goods  Recover burden of expense in case of rejection
  12. 12. Property Law Liability of buyer for neglecting or refusing the goods  The seller should have been willing to deliver  Should have asked buyer to take delivery  The buyer should have neglected to take delivery after reasonable time of request  If the goods delivered to the buyer are in excess or less than the quntity ordered the buyer can accept or reject whole or accept only the quantity ordered in case of excess continued ……….
  13. 13. Property Law  Unless there is a contract to the contrary the buyer is not liable to accept goods in installments  Liability of insuring goods in Transit by sea Duties of Buyer  Take delivery and make payment  To apply for delivery  Take any risk of deterioration of goods in transit  To give notice of rejection  To Take Delivery within reasonable time  To pay the price per contract  To compensate for non acceptance in the event of a suit filed by the seller
  14. 14. Property Law Rights of an unpaid seller  Unpaid seller is when part or whole of the price has not been tendered  Lien on the goods for the price while he is in possession of the goods  In case of insolvency of buyer of stopping the goods in transit  Right to resale as limited by the act
  15. 15. Property Law Unpaid seller’s lien Can retain possession untill payment under following conditions  Goods have been sold without any stipulation as to credit  Where term of credit has expired  Where buyer becomes insolvent The sellers lien is applicable only when the goods are in his possession or in the posession of his agent
  16. 16. Property Law Transfer of moveable and immovable property  Sale of goods act 1930 section 9  Every kind of property can be transferred except under section 6 property that cannot be transferred is  Chance of an heir apparent  Right of easement  Interest restricted in enjoyment  Public offices and salaries  Mere right to sue  Stipends and pensions  Occupancy right of a tenant
  17. 17. Property Law  Doctrine of election (Section 35)  Where a deed bestows a benefit on a person he cannot accept the benefit and reject the burdensome provisions under the deed  Doctrine of Lis Pendens or life Pendente (Section 52)  A immovable property disputed in court can be dealt with only under the authority of the court  Document of fraudulent transfer (Section 53)  Every transfer made with the intent to delay or defeat creditors of the transferors is voidable at the option of the transfereee
  18. 18. Property Law  Sale of immovable property ( section 54 to 57 )  Only by a registered instrument  Delivery of possession  Marshalling by subsequent purchaser ( section 56 )  The purchaser of mortgaged property has the right to have the mortgage satisfied out of the property or properties not sold to him  A charge on property can be extinguished by a decree of the court and by the act of the parties  Lease  Transfer of right to enjoy some immovable property for some period of time on payment of some rent or premium or both  Exchanges Gifts and actionable claims
  19. 19. Thank you !