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Transfer of Property: Distinct Interests (S 46)

This document summarizes key principles from Sections 46-48 of the Transfer of Property Act regarding the transfer of property. Section 46 covers transfers by persons with distinct interests, allowing each transferor to receive consideration based on their share. Section 47 addresses transfers by co-owners of shared property without specifying shares. Section 48 establishes that earlier property rights transfers take precedence over later ones, unless a special contract states otherwise. Exceptions include transfers executed through fraud, transfers where the second has legal notice of the first, or transfers ordered to take precedence by a court.

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Saurabh Raj
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118 views

Transfer of Property: Distinct Interests (S 46)

This document summarizes key principles from Sections 46-48 of the Transfer of Property Act regarding the transfer of property. Section 46 covers transfers by persons with distinct interests, allowing each transferor to receive consideration based on their share. Section 47 addresses transfers by co-owners of shared property without specifying shares. Section 48 establishes that earlier property rights transfers take precedence over later ones, unless a special contract states otherwise. Exceptions include transfers executed through fraud, transfers where the second has legal notice of the first, or transfers ordered to take precedence by a court.

Uploaded by

Saurabh Raj
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Lecture

26
Transfer of Property
(General Principles of Transfer of Property)
 Transfer for consideration by persons having
distinct interests (s 46)
o General principal: transfer by persons having distinct interests:
converse of s 45.
o S 46 lays down the rules to determine the respective
entitlement of each transferor in the consideration paid by the
transferee.
o Joint transferors need not necessarily be co-owners.
 Transfer by co-owners of share in common
property (s 47)
o General principal: this section enacts a rule to avoid confusion
in case of transfer by more than one co-owner of the property
who hold the shares as ‘tenants in common’ without specifying
how much out of each transferor’s share is transferred.
Slide-1 23/02/2015
Lecture
26
Transfer of Property
(General Principles of Transfer of Property)
 Priority of rights created by transfer (s 48)
o Rule of priority
o Equitable principal: Qui prior est tempore potior est jure (first in time
is better in law — subsequent dealings by the transferor of the same
property cannot be to the prejudice to the rights of the transferee
over the same property)
o Where a person purports to create by transfer rights in or over
the same immovable property,
o at different times
o and such rights cannot all exist or be exercised to their full extent
together,
o each later created right shall, in the absence of a special contract
or reservation binding the earlier transferees, be subject to the
rights previously created.
o Different dates

Slide-2 23/02/2015
Lecture
26
Transfer of Property
(General Principles of Transfer of Property)

 Exceptions
o Where the instrument of transfer is executed under fraud,
misrepresentation or in gross negligence.
o S 48 is subject to the doctrine of notice.
o Where the second transfer is by virtue of a court order
that says that the transfer will have precedence over all
the previous charges.
o Where there are exceptions carved out by a statute.
o Maritime lien

Slide-2 23/02/2015

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