The Transfer of Property Act, 1882 governs transfer of immovable property between living persons in India. These notes cover the core doctrines examined in LL.B. courses.
What the Act Covers
The Act applies to transfer of property “by act of parties” (not by operation of law, such as inheritance or court sale), covering sale (Section 54), mortgage (Section 58), lease (Section 105), exchange (Section 118), and gift (Section 122) of immovable property.
Doctrine of Lis Pendens (Section 52)
Property that is the subject matter of a pending suit cannot be transferred so as to affect the rights of any other party to the suit, during the pendency of litigation — preventing parties from defeating a decree by transferring the disputed property mid-litigation.
Rule Against Perpetuity (Section 14)
A transfer cannot create an interest that takes effect after the lifetime of one or more living persons plus the minority (18 years) of a person who is to take the interest — preventing property from being tied up indefinitely for unborn generations.
Mortgages
Section 58 defines mortgage as transfer of an interest in immovable property for the purpose of securing a loan; the Act recognises six types — simple mortgage, mortgage by conditional sale, usufructuary mortgage, English mortgage, mortgage by deposit of title deeds (equitable mortgage), and anomalous mortgage.
Sale vs Lease vs Mortgage vs Gift
Sale (Section 54) transfers absolute ownership for price; lease (Section 105) transfers a right to enjoy property for a term in exchange for rent, without transferring ownership; mortgage (Section 58) transfers an interest as security for debt, not ownership; gift (Section 122) transfers ownership voluntarily without consideration.
Key exam questions to prepare
- Explain the doctrine of lis pendens under Section 52 with its object.
- Essentials of a valid gift under Section 122.
- Distinguish the six kinds of mortgage recognised under the Act.
More: all LL.B. subject notes
Useful books for this topic
- Bare acts of the new criminal laws (BNS, BNSS, BSA)
- Code of Civil Procedure bare act
- Legal drafting and conveyancing books
- Constitution of India (coat pocket edition)
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