Digit
headset_mic account_circle
mail
Sign In
  • Products

    Motor

    • Car Insurance
    • Two Wheeler/Bike Insurance
    • Commercial Vehicle Insurance
    • Taxi/Cab Insurance
    • Auto Rickshaw Insurance
    • Truck Insurance

    Health

    • Health Insurance
    • Super Top-up Health Insurance
    • Arogya Sanjeevani Policy
    • Corporate Health Insurance
    • Health Insurance Portability

    Other

    • International Travel Insurance
    • Flight Delay
    • Shop Insurance
    • Home Insurance
  • Claims

    • File a Claim
    • File Health Claim
    • File Motor Claim for Garages
    • COVID-19 Assistance
    • Claim Status
  • Renewals
  • Become an Agent
  • Digit Products

    Motor Insurance

    • Car Insurance 25% OFF
    • Two Wheeler/Bike Insurance
    • Commercial Vehicle Insurance
    • Taxi/Cab Insurance 15% OFF
    • Auto Rickshaw Insurance
    • Truck Insurance

    Health Insurance

    • Health Insurance
    • Super Top-Up Health Insurance
    • OPD Health Insurance
    • Arogya Sanjeevani Policy
    • Personal Accident Insurance
    • Corporate Health Insurance

    Other Insurance

    • International Travel Insurance
    • Flight Delay
    • Shop Insurance
    • Home Insurance
  • Claims

    File a Claim

    File Health Claim

    File Motor Claim for Garages

    COVID-19 Assistance

    Claim Status

  • Renewals

    Become an Agent

  • Support
    Sign In
    • edit Edit Policy
    • download Download Policy
    • person_pin My Service Requests
    • check Check Policy Status
    call 1800-258-5956 mail_outline hello@godigit.com whatsapp 70260 61234

    Our WhatsApp number cannot be used for calls. This is a chat only number.

  • My Account
    account_circle
    • autorenew Renew My Policy
    • download Download My Policy
    logout SIGN OUT
    call 1800-258-5956 mail_outline hello@godigit.com whatsapp 70260 61234

    Our WhatsApp number cannot be used for calls. This is a chat only number.

  • login
  • about
  • contact
  • careers
More Products

Motor

  • Car Insurance
  • Two Wheeler/Bike Insurance
  • Commercial Vehicle Insurance
  • Taxi/Cab Insurance
  • Auto Rickshaw Insurance
  • Truck Insurance

Health

  • Health Insurance
  • Super Top-up Health Insurance
  • Arogya Sanjeevani Policy
  • Corporate Health Insurance
  • Health Insurance Portability

Other

  • International Travel Insurance
  • Flight Delay
  • Shop Insurance
  • Home Insurance

Support

close
account_circle
  • edit Edit Policy
  • download Download Policy
  • person_pin My Service Requests
  • check Check Policy Status
  • autorenew Renew My Policy
  • download Download My Policy
logout SIGN OUT
call 1800-258-5956 mail_outline hello@godigit.com whatsapp 70260 61234

Our WhatsApp number cannot be used for calls. This is a chat only number.

Do the Digit Insurance

Trusted by 3 Crore+ Indians

  • Health
    Health
  • Pay as you Drive
    Car Side View
    Car
  • trending icon

    Third-party premium has changed from 1st June. Renew now

    Motorcycle Side View
    Bike
  • auto rikshaw
    Commercial
  • Covers COVID-19
    Travel Airplane
    Travel
  • More products
    More
ENTER YOUR CAR NUMBER
keyboard_arrow_right
DON'T KNOW YOUR CAR NUMBER?
keyboard_arrow_right
renew digit policy keyboard_arrow_right

I agree to the  Terms & Conditions

{{(!carWheelerCtrl.registrationNumberCardShow || carWheelerCtrl.localStorageValues.vehicle.isVehicleNew) ? 'I know my Reg num' : 'Don’t have Reg num?'}}
keyboard_arrow_right
It’s a brand new Car
keyboard_arrow_right
renew digit policy keyboard_arrow_right

I agree to the  Terms & Conditions

Terms and conditions

    false false
    Enter valid registration number
    DON'T KNOW REGISTRATION NUMBER?
    keyboard_arrow_right
    I KNOW MY REGISTRATION NUMBER
    keyboard_arrow_right
    IT'S A NEW BIKE
    keyboard_arrow_right
    RENEW DIGIT POLICY
    keyboard_arrow_right

    I agree to the  Terms & Conditions

    Continue with {{bikeCtrl.lastVisitedData.lastVisitedUrl.indexOf('DigitPaymentGateway/payments') !== -1 ? 'payment completion': 'previous choice'}}

    {{bikeCtrl.lastVisitedData.vehicle.makeModel | toTitleCase}} {{bikeCtrl.lastVisitedData.vehicle.variant? (bikeCtrl.lastVisitedData.vehicle.variant|toTitleCase): (bikeCtrl.lastVisitedData.vehicleCharacteristics.vehicleType | toTitleCase)}}

    {{bikeCtrl.lastVisitedData.vehicle.licensePlateNumber}}

    {{bikeCtrl.selectedPlanDisplay[bikeCtrl.lastVisitedData.dropOffSelectedPlan? bikeCtrl.lastVisitedData.dropOffSelectedPlan: bikeCtrl.lastVisitedData.selectedPlan]}}

    -

    ₹{{((bikeCtrl.lastVisitedData.dropOffSelectedPlan ? bikeCtrl.lastVisitedData.dropOffGrossPremium:bikeCtrl.lastVisitedData.chosePlan.grossPremium) .replace('INR ','')).split('.')[0] | rupeeFormatWithComma}} (Incl 18% GST)

    keyboard_arrow_right
    IT'S A NEW BIKE
    keyboard_arrow_right
    RENEW DIGIT POLICY
    keyboard_arrow_right

    I agree to the  Terms & Conditions

    Continue with {{twoWheelerCtrl.lastVisitedData.lastVisitedUrl.indexOf('DigitPaymentGateway/payments') !== -1 ? 'payment completion': 'previous choice'}}

    {{twoWheelerCtrl.lastVisitedData.vehicle.make |toTitleCase}} {{twoWheelerCtrl.lastVisitedData.vehicle.model | toTitleCase}} {{twoWheelerCtrl.lastVisitedData.vehicle.variant? (twoWheelerCtrl.lastVisitedData.vehicle.variant |toTitleCase):''}}

    {{twoWheelerCtrl.lastVisitedData.vehicle.licensePlateNumber}}

    {{twoWheelerCtrl.lastVisitedData.selectedPlan}}

    -

    ₹{{((twoWheelerCtrl.lastVisitedData.quickQuoteResponse.plans[twoWheelerCtrl.lastVisitedData.selectedPlan].resposeBody.grossPremium) .replace('INR ', '')).split('.')[0] | rupeeFormatWithComma}} (Incl 18% GST)

    • Geography
    • Country
    {{geography.name}}

    Popular Countries (You can select more thane one)

    • {{country}}

    DONE
    Please select geography

    I agree to the  Terms & Conditions

    As mandated by Spanish Authorities your travel insurance needs to extend 15 days after your trip ends.
    We will extend your coverage period accordingly.

    false false false false false false false false false false false false

    Port my existing Policy

    keyboard_arrow_right
    or renew digit policy keyboard_arrow_right
    Chat with an expert

    I agree to the  Terms & Conditions

    You can select more than one member

    • -+ Max kids
      (s)
    ENTER YOUR REGISTRATION NUMBER
    keyboard_arrow_right
    DON'T KNOW YOUR REGISTRATION NUMBER
    keyboard_arrow_right
    or renew digit policy keyboard_arrow_right

    I agree to the  Terms & Conditions

    Terms and conditions

    Terms and conditions

    Do the Digit Insurance
    • Health
    • Car
    • Bike
    • Commercial
    • Travel
    • More Products

    Transfer of Property Act: Overview, Scope and Types

    transfer of property act
    (source: ipleaders)

    A transfer means an exchange of a thing from one person to another. The definition of ‘Property’ is a virtual entity or anything physical which is owned either by one person or a group of persons. One can transfer a property to someone else by transferring its ownership, interest, rights, possession, or all of it. 

    To make this process smooth, the Government introduced the Transfer of Property Act in 1882. If you wish to know more about the same, keep reading this piece.

    What Is the Transfer of Property Act?

    Section 5 of Transfer of Property Act, 1882 defines it as a deed executed by a live person transferring property to one or more other people, himself, or other living people in the present or future. A business, a large group of people or an association are taken into consideration as living beings.

    Property types in India are distinguished as either moveable or immovable under the legal system. This TP Act 1882, which came into effect on July 1, 1882, covers features of property transfer between living things.

    The Transfer of Property Act is one of the earliest pieces of legislation in Indian law. It is an expansion of the law of contracts and coexists with succession laws. Knowing the main components of this Act is crucial for anyone who intends to transfer their immovable property.

    What Is the Scope of the Transfer of Property Act?

    The scope of the Transfer of Property Act is:

    Parties: According to this Act, two or more parties to the legal process might accomplish the transfer of property ownership

    Property Type: The Transfer of Property Act principally applies to the inter-vivos (between live beings) transfer of immovable property. This Act is also applicable to transfers of property made by both companies and by private individuals. In addition, this Act applies only to transfers permitted by law and not to party acts.

    What Are the Types of Property That Can be Transferred Under this Act?

    Here are the types of property that are transferable under transfer of property law. 

    1. Immovable Property Sales: In return for payment, the seller transfers ownership to the buyer. It also includes transferring physical goods from the seller to the customer.
    2. Mortgage of Real Estate: Transfer of ownership of the property is done in the form of a mortgage. Here, the real estate is pledged as collateral for a loan. In order to free the property from mortgage, the mortgagor must pay off both the principal and interest on the loan.
    3. Immovable Property Leases: In this situation, there is no transfer of ownership; instead, the property's possession is transferred from one party to another for a fixed charge.
    4. Exchange of Real Estate: When two parties agree to exchange real estate, the transaction is known as the exchange of property.
    5. Gift of Real Estate: As per the Transfer of Property Act of 1882, a gift is defined as the unrequited transfer of real estate from one person to another.

    Who Is Eligible to Transfer Property?

    In Section 7 of the Transfer of Property Act, one can find the guidelines for legally qualified people to transfer their property. 

    According to the section, "Every person competent to contract and entitled to the transferable property, or authorised to dispose of transferable property not his own, is competent to transfer such property, either wholly or in part and either unconditionally or subject to conditions, in the circumstances, to the extent, and in the manner, allowed and prescribed by any law for the time being in force."

    A person must be at least 18 years old and of sound mind in order to be qualified to engage in a contract under the Indian Contract Act of 1872.

    What Is Transfer of Property Through Verbal/Oral Agreement?

    An oral transfer means a property transfer which can be done without writing in every case and is not necessary by law. 

    What Is Transfer of Property to an Unborn Child?

    A person who intends to leave their property to his/her next generations must do so while keeping in mind the guidelines of this Act. This becomes crucial to prevent legal issues down the road.

    The Transfer of Property Act's provisions set in Sections 13 and 14 forbid the direct transfer of property in favour of an unborn child. It is possible that the party planning the transfer must first transfer it in favour of someone alive on the transfer date. 

    The property must be registered in this person's name up until the expectant kid is born. In short, a prior interest must exist in the property before the unborn child's interest can exist.

    Let's understand this better with the help of an example. Let's assume that person A wants to transfer his property to his son and his/her next generation- his unborn grandchild. 

    Now, in case this expectant child is not born before the death of person A, the property transfer would be invalid. It would only be valid if the child is born before person A dies. Moreover, the interest of the property should vest in his son till the birth of the child.

    What Is Section 52 of the Transfer of Property Act?

    Section 52 of the Transfer of Property Act of 1882, which talks about "lis pendens" or property that is a subject of a legal proceeding, is one of the 137 provisions that it covers. 

    It states that any movable property which a title dispute involves cannot be sold or transferred while the legal action is ongoing or until a competent court issues a decision.

    However, if the property has already been transferred, the transaction is still lawful. The buyer has to now abide by the court's decisions.

    What Are the Seller's Responsibilities During Transfer of Property?

    According to Section 54 of this Act, the definition of a sale is the transfer of property ownership in exchange for a sum that has been promised, paid, partially promised, or partially paid. The section covers the obligations of the seller during the property transfer. 

    The following is a list of these rules:

    • The seller must provide all title documents pertaining to the property upon the buyer's request for inspection.
    • He or she must make sure to inform the buyer of any major flaws in the property.
    • The seller must treat the property and any relevant documentation in his possession with the same care as an owner. This would be between the date of the contract of sale and until the property is handed over.
    • He or she must release all encumbrances on the property that are present at that time.
    • He or she needs to give the buyer full possession of the property.
    • To the best of his knowledge, the seller must respond to pertinent inquiries on the property's title from the buyer.
    • The seller has to pay any rent and any accumulated public charges for the property up until the sale date.
    • Upon tender or payment of the amount due in line with the pricing, the seller must carry out the property transfer process at the location and time suggested by the buyer.

    What Are the Buyer's Responsibilities During Transfer of Property?

    The buyer must take care of his or her obligations as part of the process when buying a property. These obligations include:

    • The buyer must inform the seller of any information regarding the property that they are aware of that the seller is not. Additionally, they must also tell it if they have any reason to suspect that the seller is not aware of it. 
    • After a buyer receives possession of the property, the seller is no longer liable for any damages, losses, or decreases in value that result from such events.
    • At the time the sale is completed, the buyer is required to provide the seller with the purchase money.
    • After gaining possession of the property, the buyer is responsible for paying any outstanding debts, including rent and other public charges. This includes the amount that may become due on the property, as well as any accruing interest on such debts.

    This is all about the Transfer of Property Act. The Government of India brought this Act to provide information about property transfer in a simple and easy language. As of now, this Act has undergone a number of changes to increase its effectiveness.

    Frequently Asked Questions

    Who introduced the Transfer of Property Act in India?

    Whitley Stokes introduced the Transfer of Property Act in India in 1882.

    Whitley Stokes introduced the Transfer of Property Act in India in 1882.

    How many sections are there in the Transfer of Property Act, 1882?

    Altogether, there are 137 sections in the Transfer of Property Act of 1882.

    Altogether, there are 137 sections in the Transfer of Property Act of 1882.

    Please try one more time!

    Request URL:
    Status Code:
    Request Payload:
    Response Data:

    Other Important Articles

    What is Legal Heir Certificate?

    Legal Heir Certificate in Karnataka

    Legal Heir Certificate in Kerala

    Legal Heir Certificate / Varisu Certificate in Tamilnadu

    Legal Heir Certificate in Maharashtra

    Legal Heir Certificate in Delhi

    Show more

    More Insurance Guides

    Types of Insurance

    Types of General Insurance

    Deductibles in Insurance

    Depreciation in Insurance

    What is Consequential Damges

    Subrogation in Insurance

    What is IRDA

    How to get International Driving License in India

    Buy Insurance Policy Online

    All about FASTag Card

    What is an Insurance Actuary?

    List of Car Insurance Companies in India

    List of Two Wheeler Insurance Companies in India

    List of Health Insurance Companies in India

    List of General Insurance Companies in India

    List of Insurance Companies in India

    List of Life Insurance Companies in India

    List of Term Insurance Companies in India

    Nominee in Insurance

    Why Life Insurance is Important?

    Show more

    Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.

    View Instant Premium

    Switch to Digit Insurance

    close
    digit
    Health
    digit
    Car
    digit
    Bike
    digit
    Commercial
    digit
    Travel
    digit
    Property
    1. Digit Insurance
    2. Insurance Guides
    3. Legal
    4. Transfer of Property Act

    Last updated: 2023-03-23

    Digit
    • about
    • contact
    • career
    Products
    • Car Insurance
    • Bike Insurance
    • Travel Insurance
    • Health Insurance
    • Property Insurance
    • Shop Insurance
    • Group Health Insurance
    • Arogya Sanjeevani Policy
    • Commercial Vehicle Insurance
    • Super Top-up Health Insurance
    • Flight Delay
    Resources
    • Blog
    • Press
    • Download Policy
    • Grievance Redressal Procedure
    • Cancel e-Mandate
    Agent & Partnerships
    • Become an Agent
    • Become Digit POSP
    • Garages claim intimation
    Services
    • Claims
    • Renewals
    • Digit Cashless Garages
    • Digit Cashless Hospitals
    Get our app
    Download man
    App Store Google Play

    Other Products
    • Fire Insurance
    • Burglary Insurance
    • Building Insurance
    • Bus Insurance
    • Tractor Insurance
    • Commercial Van Insurance
    • Passenger Carrying Vehicle Insurance
    • Heavy Vehicle Insurance
    • Goods Carrying Vehicle Insurance
    • Activa Insurance
    • Jupiter Insurance
    • Bullet Insurance
    • Student Travel Insurance
    • Schengen Visa Travel Insurance
    Health Insurance Guides
    • Individual Health Insurance
    • Family Health Insurance
    • Health Insurance for Parents
    • Health Insurance Premium Calculator
    • Compare Health Insurance
    • Health Insurance for Senior Citizens
    • Health Insurance with Maternity Cover
    • Corona Kavach Policy
    • Corona Rakshak Policy
    • हेल्थ इन्शुरन्स
    • फैमिली हेल्थ इन्शुरन्स
    Car Insurance Guides
    • Third Party Car Insurance
    • Comprehensive Car Insurance
    • Zero Depreciation Car Insurance
    • NCB in Car Insurance
    • IDV Calculator for Car
    • Bumper to Bumper Car Insurance
    • Car Insurance Calculator
    • Own Damage Car Insurance
    • Comprehensive vs Third Party Insurance
    • Compare Car Insurance
    • Find Vehicle Registration Details Online
    Bike Insurance Guides
    • Third Party Bike Insurance
    • Comprehensive Bike Insurance
    • Zero Depreciation Bike Insurance
    • NCB in Two Wheeler Insurance
    • IDV Value Calculator for Bike
    • Add-on Cover in Bike Insurance
    • Bike Insurance Calculator
    • Own Damage Bike Insurance
    • Comprehensive vs Third Party Bike Insurance
    • Compare Bike Insurance
    • Royal Enfield Insurance
    • TVS Insurance
    • Hero Bike Insurance
    Other Guides
    • Types of Insurance
    • Types of General Insurance
    • Types of Motor Insurance
    • International Driving License
    • Visa on Arrival for Indians
    • Visa Free Countries for Indians
    • Comprehensive vs Zero Depreciation
    • Coronavirus Health Insurance
    • Coronavirus Symptoms Checker
    • Indian Passport Rank
    • Digit Illness Group Insurance
    • Hero Splendor Insurance
    • Access Insurance
    • Scooty Insurance
    Calculators
    • SME Buddy Calculator
    • Home Loan EMI Calculator
    • Bike Loan EMI Calculator
    • Car Loan EMI Calculator
    • HRA Exemption Calculator
    • Sukanya Samriddhi Yojana Calculator
    • SIP Calculator
    • RD Calculator
    • SWP Calculator
    • GST Calculator
    • PPF Calculator
    • Personal Loan EMI Calculator
    • EMI Calculator
    • Individual Income Tax Slab
    • Tax Saving Options other than 80C
    Finance Guides
    • What is Credit Score
    • Public Provident Fund
    • How to Open PPF Account?
    • How to open Sukanya Samriddhi Account
    • What is GST?
    • GST Registration in India
    • PAN Card
    • Aadhaar Card
    • Property Tax
    • Road Tax
    • Passport Process
    • Income Tax Slabs
    • How to Save Income Tax in India
    • Tax Deductions under Section 80C
    Traffic Rules
    • PUC Certificate
    • Vehicle Registration Certificate
    • New Traffic Fines
    • Fine for Driving without Helmet
    • Types of Driving Licence in India
    • Driving Licence in Delhi
    • Driving Licence in Bangalore
    • Driving Licence in Jaipur
    • Bangalore Traffic Fines
    • Pune RTO Fine
    • Own Damage Insurance
    Business Products
    • Business Insurance
    • Management Liability Insurance
    • General Liability Insurance
    • Workmen Compensation Insurance
    • Fidelity Insurance
    • Professional Liability Insurance
    • Money Insurance Policy
    • Sign Board Insurance
    • Plate Glass Insurance
    • Erection All Risk Insurance
    • Contractors' All Risks Insurance
    • Directors and Officers Liability Insurance
    • Marine Cargo Insurance
    • Contractors Plant and Machinery Insurance
    RTO Offices in India
    • RTO Office
    • RTO Pune
    • RTO Ahmedabad
    • RTO Bangalore
    • RTO Mumbai
    • RTO Delhi
    • RTO Lucknow
    • RTO Thane
    • RTO Chennai
    Important Links
    • Digit Insurance Reviews
    • Car Insurance Reviews
    • Bike Insurance Reviews
    • Commercial Vehicle Insurance Reviews
    • Travel Insurance Reviews
    • Health Insurance Reviews
    • Mobile Insurance Reviews
    • Become a Digit Partner
    • General Insurance Agent
    • Health Insurance Agent
    • Motor Insurance Agent
    Car Brands & Models
    • Maruti Insurance
    • Toyota Car Insurance
    • Tata Car Insurance
    • Hyundai Car Insurance
    • Kia Car Insurance
    • Mahindra Car Insurance
    • Tata Tiago Insurance
    • Tata Nexon Insurance
    • Hyundai i20 Insurance
    • Creta Insurance
    • Baleno Insurance
    Downloads Do Not Disturb (DND) Public Disclosures Investor Relations Stewardship Policy IRDAI Privacy Policy

    CIN: U66010PN2016PLC167410, IRDAI Reg. No. 158.

    Go Digit General Insurance Limited (formerly known as Oben General Insurance Ltd.) - Registered Office Address - 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivaji Nagar, Pune-411005, Maharashtra | Corporate Office Address - Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru-560095, Karnataka | Trade logo of Go Digit General Insurance Ltd. displayed above belongs to Go Digit lnfoworks Services Private Limited and is provided and used by Go Digit General Insurance Ltd. under license.