This presentation includes the history of Transfer of Property Act, nature of the act how the act works, scope of this act. You will get to know the how the contract and the TP Act are related to each other. And which case this act does not apply.
By- Sujoy Paul
Email Id- sujoypaul1002@gmail.com
Contact No- 7029253050
2. Under the Indian legal system, properties are
divided into two categories – movable and
immovable. The Transfer of Property Act (ToPA),
1882, which came into force on July 1, 1882, deals
with the aspects of transfer of properties between
living beings. One of the oldest laws in the Indian
legal system, the Transfer of Property Act is an
extension of the law of contracts and runs parallel
to the succession laws. For those planning to
transfer their immovable property, knowing the
key aspects of the Transfer of Property Act is quite
important.
Introduction
3. Historical Background
I. As for transfer of movable property there has been sufficient law. For
example on the point of sale of goods act 1930 .
II. But for the exchange of movable property there was no law, for gift
of movable property there was no law before 1882.
III. Similarly for transfer of immovable property by act of parties there
was no law before 1882 such transfer were governed by the equity
justice and good conscience. For example sale of a house or
mortgage of house there was no law it was dealt by equity justice
and good conscience.
IV. After that in 1882 transfer of property act came in to existence .
4. Preamble
Where it is expedient to define and amend certain
parts of the law relating to the transfer of property by
the act of parties.
Preamble of the act sets out the main objective which the
legislation is intended to achieve.
5. The scope of this Act is limited to transfer of property by act of
parties as distinguished from a transfer by operation of law, e.g.,
in case of insolvency, forfeiture or sale on execution of a decree.
For instance, if A agrees to sell his land to B, the transaction will
be governed by the T.P. Act, 1882. But, if B, purchases the land
of A, at the auction-sale held by the Court in execution of a
decree against A, the transfer of the land to B takes effect by
operation of law, and none of the provisions of the Act requiring
the transfer to be effected in a particular way, e.g., by a
registered document, shall apply to it. The Act relates to transfer
of property inter vivos and has no application to disposal of
property by Will, nor does it deal with cases of devolution or
succession.
Scope
6. Is Property law exhaustive in nature?
The nature of property law is not exhaustive or complete because:
It applies only to transfer by the act of parties, not by operation of law.
Also, this Act deals with a transfer of property inter vivos, i.e., a transfer
between living persons.
It contains the transfer of both movable and immovable property but a
major portion of the act is applicable to the transfers of immovable
properties only. The Act provides a clear, systematic demarcation and
uniform law for the transfer of immovable property.
Certain incidents of a contract or the essential nature of property are
exemption from the operation of the Act by Section 2. The Act also saves
certain property rights. For example, the right to partition of immovable
property is an incident of the property but this right is not affected by the
provisions of the TP Act, 1882.
7. Transfer of Property Act is not applicable to Public
Charitable Trust.
Transfer of Property Act does not apply to the Transfer of
Property by an award.
TP Act does not apply to the creation of easements.
There are various kinds of property and various modes
to transfer the property. The Act does not incorporate
rules for all modes of transfer in existence. The Act does
not even claim to be a complete code as apparent from
the omission of the term ‘consolidate’ from its
Preamble. The Act outlines transfers of property by act
of parties like sales of immovable property, mortgages
and charges, leases of immovable property, exchanges,
gifts, and actionable claims.