Transfer of Property short notes for cs student
Transfer of Property – ‘Transfer of Property’ means an actby which a living person conveys property, in present or future, to one or moreliving persons, or to himself or to himself and one or more other livingpersons. ‘Living person’ includes a company or association or body ofindividuals, whether incorporated or not. [section 5]. - - The property may bemovable or immovable, present or future. - - Such transfer can be made orally,unless transfer in writing is specifically required under any law. [section 9].- - Any person competent to contract and entitled to transferable property, orauthorised to dispose of transferable property on his own, is competent totransfer such property. The property can be transferred wholly or in part. Itcan be transferred either absolutely or conditionally. Such transfer can beonly to the extent and in manner allowed and prescribed by law. [section 7].