SECTION 5: DEFINITION OF TRANSFER OF PROPERTY

Transfer of property means an act by which a living person conveys

property, in present or in future, to one or more other living persons, or to
himself, 1[or to himself] and one or more other living persons; and “to
transfer property” is to perform such act. 1[In this section “living person”
includes a company or association or body of individuals, whether
incorporated or not, but nothing herein contained shall affect any law for
the time being in force relating to transfer of property to or by companies,
associations or bodies of individuals.]

And Conveyance means the property must be handed over to the person
and conveyance of property may be effected in one of the ways i.e by sale ,
mortgage, lease ,exchange or gift. Conveyance of property to corporations
,companies , firms etc., as they have been created by fiction of law and are
known as juristic persons.

Transfer in present or future means that the transferor may transfer the
property either with immediate effect or to be effective from future date i.e.,
vesting of property is postponed to a future date.

A property is having a bundle of rights when a property is transferred or

rights partially only gets transferred.

SECTION 5: DEFINITION OF TRANSFER OF PROPERTY

Transfer of property means an act by which a living person conveys

property, in present or in future, to one or more other living persons, or to
himself, 1[or to himself] and one or more other living persons; and “to
transfer property” is to perform such act. 1[In this section “living person”
includes a company or association or body of individuals, whether
incorporated or not, but nothing herein contained shall affect any law for
the time being in force relating to transfer of property to or by companies,
associations or bodies of individuals.]

And Conveyance means the property must be handed over to the person
and conveyance of property may be effected in one of the ways i.e by sale ,
mortgage, lease ,exchange or gift. Conveyance of property to corporations
,companies , firms etc., as they have been created by fiction of law and are
known as juristic persons.

Transfer in present or future means that the transferor may transfer the
property either with immediate effect or to be effective from future date i.e.,
vesting of property is postponed to a future date.

A property is having a bundle of rights when a property is transferred or

rights partially only gets transferred.