Bare Act Search Results

Transfer of Property Act, 1882 Chapter VII

Title: Of Gifts

State: Central

Year: 1882

.....independent transaction, a sum of money. B refuses to accept the lease. He does not by this refusal forfeit the money. Section 128 - Universal donee Subject to the provisions of section 127, where a gift consists of the donor's whole property, the donee is personally liable for all the debts due by 1 [and liabilities of] the donor at the time of the gift to the extent of the property comprised therein. _____________________ 1. Inserted by Act 20 of 1929, Section 60. Section 129 - Saving of donations mortis causa and Muhammadan law Nothing in this Chapter relates togifts of moveable property made in contemplation of death, or shall be deemed toaffect any rule of Muhammadan law 1 [* * *]. _____________________ 1. The words and figures "or, save asprovided by section 123, any rule of Hindu or Buddhist law "omitted by Act20 of 1929, Section 61.

Transfer of Property Act, 1882 Section 126

Title: When Gift May Be Suspended or Revoked

State: Central

Year: 1882

The donor and donee may agree that on the happening of any specified event which does not depend on the will of the donor a gift shall be suspended or revoked; but a gift which the parties agree shall be revocable wholly or in part, at the mere will of the donor, is void wholly or in part, as the case may be. A gift may also be revoked in any of the cases (save want or failure of consideration) in which, if it were a contract, it might be rescinded Save as aforesaid, a gift cannot be revoked. Nothing contained in this section shall be deemed to affect the rights of transferees for consideration without notice Illustrations (a) A gives a field to B, reserving to himself, with B's assent, the right to take back the field in case B and his descendants die before A. B dies without descendants in A's lifetime. A may take back the field. (b) A gives a lakh of rupees to B, reserving to himself, with B's assent, the right to take back at pleasure Rs.10,000 out of the lakh. The gift holds good as to Rs.90,000, but is void as to Rs.10,000 which continue to belong to A.

The Transfer of Property Act, 1882 Complete Act

State: Central

Year: 1882

.....for relief, whether such debt or beneficial interest be existent, accruing, conditional or contingent;] 17 ["a person is said to have notice" of a fact when he actually knows that fact, or when, but for wilful abstention from an enquiry or search which he ought to have made, or gross negligence, he would have known it. Explanation 1. "Where any transaction relating to immovable property is required by law to be and has been effected by a registered instrument, any person acquiring such property or any part of, or share or interest in, such property shall be deemed to have notice of such instrument as from the date of registration or, where the property is not all situated in one sub-district, or where the registered instrument has been registered under sub-section (2) of section 30 of the Indian Registration Act, 1908 (16 of 1908), from the earliest date on which any memorandum of such registered instrument has been filed by any Sub-Registrar within whose sub-district any part of the property which is being acquired, or of the property wherein a share or interest is being acquired, is situated:] Provided that " (1) the instrument has been registered and its registration.....