Bare Acts  | Legal Resources  | Lawyer Locater  | Articles  | Legal Dictionary  | Download Desktop Software  | Subscription   Home   |   E-Journal  |  Sign-In  | Contact Us  | Disclaimers

Supreme Court of India
 Search Tips
Civil Law
Bare Acts
The Transfer of Property Act, 1872
Section 51-96
Section 53-A
Section 54
Section 80
Section 86-90
Section 92
Section 54- "Sale" defined

"Sale" is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.

Sale how made: Such transfer, in the case of tangible immovable property of the value of one hundred rupees and upwards, or in the case of a reversion or other intangible thing, can be made only by a registered instrument.

In the case of tangible immovable property of a value less than one hundred rupees, such transfer may be made either by a registered instrument or by delivery of the property.

Delivery of tangible immovable property takes place when the seller places the buyer, or such person as he directs, in possession of the property.

Contract for sale: A contract for the sale of immovable property is a contract that a sale of such property shall take place on terms settled between the parties.

It does not, of itself, create any interest in or charge on such property.

     
@2016 Indian Law
Our Ventures