New Click here to Enroll in NaBFID Analyst Intro Class on May 6

    Question

    Which of the following is not true about Transfer of

    property defined as per s. 5 of the Transfer of Property act:
    A living person conveys property to one or more living persons Correct Answer Incorrect Answer
    B covers past present and future transactions Correct Answer Incorrect Answer
    C living person may include a company or an association Correct Answer Incorrect Answer
    D living person may transfer property to himself and one or more other living persons Correct Answer Incorrect Answer
    E none of the above. Correct Answer Incorrect Answer

    Solution

    Section 5. “Transfer of property” defined: In the following sections “transfer of property” means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, or to himself and one or more other living persons; and “to transfer property” is to perform such act. In this section “living person” includes a company or association or body of individuals, whether incorporated or not, but nothing herein contained shall affect any law for the time being in force relating to transfer of property to or by companies, associations or bodies of individuals.

    Practice Next

    Relevant for Exams: