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what is section 54 in transfer property act

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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.—3Such transfer, in the case of tangible immoveable property of the value of one hundred rupees and upwards, or in the case of a reversion or other intangible...
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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.—3Such transfer, in the case of tangible immoveable 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 read less
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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.—3Such transfer, in the case of tangible immoveable property of the value of one hundred rupees and upwards, or in the case of a reversion or other intangible...
read more
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.—3Such transfer, in the case of tangible immoveable 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 . read less
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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.—3Such transfer, in the case of tangible immoveable property of the value of one hundred rupees and upwards, or in the case of a reversion or other intangible...
read more
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.—3Such transfer, in the case of tangible immoveable 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 read less
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Section 54 of the TP act lays the procedure of sale of a property. It has certain elements : 1) There should be a consideration, which shall be agreed by both the parties. 2) The amount of the property should be more than INR 100. 3) The agreement of the property should be registered; 4) And the...
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Section 54 of the TP act lays the procedure of sale of a property. It has certain elements : 1) There should be a consideration, which shall be agreed by both the parties. 2) The amount of the property should be more than INR 100. 3) The agreement of the property should be registered; 4) And the terms of the agreement should be agreed by both the parties. read less
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Sec 54 incorporates the provision relating to "SALE" under the Transfer of Property Act,1882.According to said provision "SALE" is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.Such transfer of ownership takes place in case of tangible immovable property(e.g....
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Sec 54 incorporates the provision relating to "SALE" under the Transfer of Property Act,1882.According to said provision "SALE" is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.Such transfer of ownership takes place in case of tangible immovable property(e.g. lands, buildings,etc.which immediately or through the medium of tenants may be subject of possession) of the value of one hundred rupees and upwards, or in the case of a reversion or other intangible thing (various interest,which are included under the head of immovable property without possession e.g. vested interest),can be made only by a registered instrument and on the other hand if the value of such tangible immovable property is less than one hundred rupees than transfer can be made either by registered instrument or by delivery of the property and such delivery takes place when the seller places the buyer,or such person as he directs,in possession of the property. read less
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