Financial Services
The Transfer of Property Act is a crucial piece of legislation that governs the transfer of property in India and ensures clarity and uniformity in real estate transactions. One of the most important clauses is section 52 of Transfer of Property Act, which deals with the doctrine of lis pendens, meaning property involved in a legal dispute cannot be transferred. On the other hand, Section 3 Property Act defines important terms like “immovable property” and “attested,” laying the foundation for interpretation. Further along, Section 4 Property Act explains the application of the Act in line with other laws. With a notable gap, Section 5 Property Act defines the meaning and scope of “transfer of property” between living persons. Much later in the Act, Section 61 Property Act covers mortgagor’s right to redeem the property, adding balance to mortgage dealings. Understanding these sections helps individuals and legal practitioners handle property-related matters more effectively.
