Transfer Of Property Act

Transfer Of Property Act AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

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Transfer Of Property Act Dr. T.K. Jain.

AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email protected] www.afterschool.tk, www.afterschoool.tk www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Doctrine of Part-Performance • Sec. 53 A transfer of property act • There must be transfer, for consideration (something in return). • Reasonable terms • Transferee must have taken possession of the goods under part performance • The transferee must be willing to perform his part. • The defendant (transferee) has the right to protect his possession. www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Doctrine of Fraudulent Transfer • Sec. 53 of T.P. Act • Where the transfer is carried out so that creditor does not get anything, it is called fradulent transfer.This transfer is voidable. However sec. 53(2) protects the rights of transferee who has take goods in good faith and for consideration.

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Property which cannot be transferred • • • • • • • •

(a) the chance of an heir apparent succeeding to an estate, (heir) (b) A mere right of re-entry for breach of a condition subsequent cannot be transferred to any one except the owner of the property (c) An easement (path) can not be transfered apart from the dominant heritage. (d) An interest is property restricted in its enjoyment to the owner personally cannot be transferred by him. (e) A right to future maintenance in whatsoever manner arising, secured or determined, cannot be transferred. (f) A mere right to sue cannot be transferred. (g) A public office cannot be transferred nor can the salary of a public officer. (h) Stipends allowed to military, naval, air force and civil pensioners of the Government and political pensions cannot be transferred.

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Doctrine of Lis Pendens • A property cannot be transferred, which is under litigation in the court.

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Doctrine of Feeding the Grant by Estoppel • • • • • • •

Suppose you don’t have property, yet you transfer it , later you get the property, then you have to give it to the transferee. Thus: 1. there was a representation, fraudulent or erroneous; 2. it was to the effect that the transferor is entitled to transfer the immoveable property; 3. the transferor is found to have subsequently acquired the interest which he professed to transfer; 4. the transfer of property was for consideration; 5. the transferee has not rescinded the contract; 6. the transferee acted in good-faith for consideration and without notice of the rights under the prior transfer.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

example • Suppose Ravi, who has separated from his father Nanak, sells to Goti three fields, X, Y and Z, representing that Ravi is authorised to transfer the same. Of these fields, Z does not belong to him, it having been retained by father. However, Nanak dies and the field comes to Ravi, and Ravi will have to give it to Goti. www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Formalities of Transfer •

Sec. 54 says that to transfer immovable property, you have to do the following: 2. Attestation (by at least 2 persons) 3. Registration 4. Notice (actual or constructive), (doctrine of equitable notice).

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Transfer by Ostensible Owner or Doctrine of Holding Out • (i) the transferor is the ostensible owner; • (ii) he is so by the consent, express or implied, of the real owner; • (iii) the transfer is for consideration, and • (iv) the transferee has acted in good faith taking reasonable care to ascertain that the transferor had power to transfer.Thus transferee can protect his rights. • Sec. 41. www.afterschoool.tk

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Doctrine of Election • Goti transfers his land to Double by a documentin the same contract he asks Double to transfer his Car to Goti, and by another document Double has to transfer his property to Bheru. In this case Double is forced to transfer his car to Goti (same instrument), but not forced to transfer his property to Bheru. • Sec. : 35, cooper & cooper www.afterschoool.tk

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ABOUT AFTERSCHO☺OL Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.

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Why such a programme? • To promote people to take up entrepreneurship and help develop the society • To enable people to take up franchising and other such options to start a business / social development project • To enable people to take up social development as their mission • To enable people to promote spirituality and positive thinking in the world www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Who are our supporters? • Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. • You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

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About AFTERSCHO☺OL PGPSE – the best programme for developing great entrepreneurs • • • • •

Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee • Option to take up part time job – so earn while you learn • The only absolutely free course on internet www.afterschoool.tk

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Workshops from AFTERSCHO☺OL • • • • • • • • •

IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad

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Flexible Specialisations: • • • • • • • • • •

Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance

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Salient features: • The only programme of its kind (in the whole world) • No publicity and low profile course • For those who want to achieve success in life – not just a degree • Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes • Scholarships for those from poor economic background • Latest and constantly changing curriculum – keeping pace with the time • Placement for those who are interested • Admissions open throughout the year • Latest and most advanced technologies, books and study material www.afterschoool.tk

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Components • • • • • • • • • • • • • •

Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development EsGotitial softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Pedagogy • • • • • • • • •

Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits PreGotitations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) • Rural development / Social welfare projects www.afterschoool.tk

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Branches • AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

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Case Studies • We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

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Basic values at AFTERSCHO☺OL • • • • • •

Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help • Ask fundamental questions : why, when, how & where? • Embrace change – and compete with yourself only www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

www.afterschoool.tk social entrepreneurship for better society

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS