Question

    Under the Transfer of Property Act, 1882, Section 5

    provides that a "Transfer of Property" is:
    A A testamentary disposition of property taking effect after the death of the owner Correct Answer Incorrect Answer
    B An act by which a living person conveys property, in present or in future, to one or more other living persons Correct Answer Incorrect Answer
    C The creation of a charge on a property by operation of law or court decree Correct Answer Incorrect Answer
    D A joint ownership arrangement created through a family settlement deed Correct Answer Incorrect Answer
    E A transaction involving only the mortgage of immovable property for a loan Correct Answer Incorrect Answer

    Solution

    Section 5 of TPA, 1882, defines "transfer of property" as an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and one or more other living persons. Property can be transferred by act of parties or by operation of law, but transfer by will is governed differently (succession context).

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