PPT - Transfer of Property in goods B Com Notes | EduRev

Business Law

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B Com : PPT - Transfer of Property in goods B Com Notes | EduRev

 Page 1


TRANSFER OF PROPERTY
Page 2


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Page 3


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Transfer of property
? Sale is the first step in the “ 
TRANSFER OF PROPERTY IN 
GOODS “ by the seller to the buyer.
? The Phrase “ TRANSFER OF 
PROPERTY IN GOODS “ means 
Transfer of ownership of the Goods 
from one person to another.
Page 4


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Transfer of property
? Sale is the first step in the “ 
TRANSFER OF PROPERTY IN 
GOODS “ by the seller to the buyer.
? The Phrase “ TRANSFER OF 
PROPERTY IN GOODS “ means 
Transfer of ownership of the Goods 
from one person to another.
Transfer of property(contd..)
? Property in Goods is different from 
Possession of Goods.
? Possession of Goods refers to the 
custody over the Goods whereas 
Property in Goods means ownership 
over the Goods.
Page 5


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Transfer of property
? Sale is the first step in the “ 
TRANSFER OF PROPERTY IN 
GOODS “ by the seller to the buyer.
? The Phrase “ TRANSFER OF 
PROPERTY IN GOODS “ means 
Transfer of ownership of the Goods 
from one person to another.
Transfer of property(contd..)
? Property in Goods is different from 
Possession of Goods.
? Possession of Goods refers to the 
custody over the Goods whereas 
Property in Goods means ownership 
over the Goods.
Importance of transfer of 
property
? Risk follows ownership
? if property has passed to the buyer, 
he becomes the owner of the goods 
and then the risk of destruction, 
damage or loss.
? Action against third parties
? if goods are damaged by action of 
third parties, only owner of goods can 
take the action.
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