lawbeings

TRANSFER OF PROPERTY FOR THE BENEFIT OF UNBORN PERSON  The provision of transfer of property Act,1882 in general do not allow the transfer of property directly to an unborn but for the benefit of unborn. Although the TPA,1882 talks about transfer of property between living persons (inter vivos) but section 13 of TPA,1882 provides an exception to the rule.It provides that a property can be transferred for the benefit of a person who does not have current existence but has a specific reference to one and who may be born in the future is considered to be an Unborn person. The essential conditions to transfer property for the benefit of an unborn person are :- A).NO DIRECT TRANSFER  :- A transfer cannot be directly made to an unborn person.Such a transfer can only be brought into existence by the mechanism of trusts.It is a principle of property law that every property must have an owner. Accordingly, if a transfer of property is made to an unborn, it will lead to a scenario where...

                            Introduction Sale is a transfer of ownership in exchange for a price paid or promised or part paid and part promised. And it is essential that there must be atleast 2  parties to execute a sale one is buyer & other is seller  and in the execution of sale there are certain Rights and Liabilities of buyer and seller under section 55 of The Transfer of Property Act,1882 in transfer of immovable property :- 1. The Liabilities of seller before completion of the sale are: Seller Is Bound  (a). To disclose material defect in the property or in the seller's title thereto which the buyer in ordinary care could not discover ie latent defects for examples defect in title, an underground drain are latent defects and if the buyer does not know of its existence the seller is duty bound to inform him its existence. (b). To produce title deeds which are under seller's possession re...