Important Sections and Provisions in the Transfer of Property Act

The Transfer of Property Act, 1882 is a crucial legislation that governs the transfer of property in India. As an aspirant of the UPSC law optional subject, it is important to familiarize yourself with the key sections and provisions of this Act. Here are some of the important sections and provisions that you should be familiar with:

1. Section 5: Transfer of property defined
- This section defines the term "transfer of property" and explains the various modes of transfer such as sale, mortgage, lease, gift, etc.

2. Section 6: What can be transferred
- This section enumerates the types of properties that can be transferred, including both movable and immovable properties.

3. Section 9: Oral transfer
- Section 9 states that a transfer of immovable property must be in writing, signed by the transferor, and registered. However, certain exceptions are provided for oral transfers in specific situations.

4. Section 54: Sale defined
- Section 54 defines the term "sale" as a transfer of ownership in exchange for a price paid or promised to be paid. It specifies the essential elements of a valid sale and the rights and obligations of the buyer and seller.

5. Section 58: Mortgage defined
- This section defines the term "mortgage" as the transfer of an interest in specific immovable property for the purpose of securing the payment of money. It explains different types of mortgages, such as simple mortgage, mortgage by conditional sale, and usufructuary mortgage.

6. Section 107: Lease defined
- Section 107 defines the term "lease" as a transfer of a right to enjoy immovable property for a certain time, in consideration of a price paid or promised to be paid. It covers various aspects of lease agreements, including the rights and responsibilities of the lessor and lessee.

7. Section 122: Gift defined
- Section 122 defines the term "gift" as the voluntary transfer of movable or immovable property without any consideration. It lays down the conditions for a valid gift and the requirements for its completion.

8. Section 123: Transfer for the benefit of unborn person
- This section deals with transfers made for the benefit of an unborn person, specifying the conditions under which such transfers are valid.

9. Section 129: Saving of transfer to certain persons
- This section saves certain transfers made in favor of bona fide transferees for consideration, even if they are made by a person having limited interest or no interest at the time of transfer.

10. Section 130: Transfer where third person is entitled to maintenance
- Section 130 allows a transfer of property for the benefit of a third person who is entitled to maintenance.

11. Section 137: Right of re-entry for breach of condition subsequent
- This section confers the right of re-entry on the transferor in case of breach of a condition subsequent in a transfer.

12. Section 138: Transfer of actionable claims
- Section 138 deals with the transfer of actionable claims, including the requirements for their validity and the rights and liabilities of the transferee.