Bare Act Search Results

Transfer of Property Act, 1882 Section 45

Title: Joint Transfer for Consideration

State: Central

Year: 1882

Where immoveable property is transferred for consideration to two or more persons and such consideration is paid out of a fund belonging to them in common, they are, in the absence of a contract to the contrary, respectively entitled to interests in such property identical, as nearly as may be, with the interests to which they were respectively entitled in the fund; and, where such consideration is paid out of separate funds belonging to them respectively, they are, in the absence of a contract to the contrary, respectively entitled to interests in such property in proportion to the shares of the consideration which they respectively advanced. In the absence of evidence as to the interests in the fund to which they were respectively entitled, or as to the shares which they respectively advanced, such persons shall be presumed to be equally interested in the property.

Transfer of Property Act, 1882 Section 46

Title: Transfer for Consideration by Persons Having Distinct Interests

State: Central

Year: 1882

Where immoveable property is transferred for consideration by persons having distinct interests therein, the transferors are, in the absence of a contract to the contrary, entitled to share in the consideration equally, where their interests in the property were of equal value, and, where such interests were of unequal value, proportionately to the value of their respective interests. Illustration (a) A, owing a moiety, and B and C, each a quarter share, of mauza Sultanpur, exchange an eighth share of that mauza for a quarter share of mauza Lalpura. There being no agreement to the contrary, A is entitled to an eighth share in Lalpura, and B and C each to a sixteenth share in that mauza. (b) A, being entitled to a life-interest in mauza Atrali and B and C to the reversion, sell the mauza for Rs. 1,000. A's life-interest is ascertained to be worth Rs. 600, the reversion Rs. 400. A is entitled to receive Rs. 600 out of the purchase-money. B and C to receive Rs. 400.

Trusts Act, 1882 Complete Act

State: Central

Year: 1882

.....known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the section 229 Indian Contract Act, 1872 (9 of 1872)-, ; and all expressions used herein and defined in the Indian Contract Act, 1872 (expressions defined in Act 9 of 1872), shall be deemed to have the meanings respectively attributed to them by that Act. SECTION 04: LAWFUL PURPOSE. A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful, and the two purposes, cannot be separated, the whole trust is void. SECTION 05: TRUST OF IMMOVABLE PROPERTY No trust in relation to immoveable property is valid unless declared by a non-testamentary instrument in writing signed by the author of the trust or the.....

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.....

Indian Trusts Act, 1882 Chapter VII

Title: Of Vacating the Office of Trustee

State: Central

Year: 1882

.....than one, all the beneficiaries being competent to contract; or (f) by the court to which a petition for his discharge is presented under this Act. Section 72 - Petition to be discharged from trust Notwithstanding the provisions of section 11, every trustee may apply by petition to a principal civil court of original jurisdiction to be discharge from his office; and if the court finds that there is sufficient reason for such discharge, it may discharge him accordingly, and direct his costs to be paid out of the trust-property. But where there is no such reason, the court shall not discharge him, unless a proper person can be found to take his place. Section 73 - Appointment of new trustees on death, etc Whenever any person appointed a trustee disclaims, of any trustee, either original or substituted, dies, or is for a continuous period of six months absent from1[India], or leaves1[India] for the purpose of residing abroad, or is declared an insolvent, or desires to be discharged from the trust, or refuses or becomes, in the opinion of a principal civil court of original jurisdiction, unfit or personally incapable to act in the trust, or accepts an inconsistent.....

Bills of Exchange Act, 1882 Complete Act

State: Central

Year: 1882

.....operates as notice that the agent has but a limited authority to sign, and the principal is only bound by such signature the agent in so signing was acting within the actual limit of his authority. SECTION 26: PERSON SIGNING AS AGENT OR IN REPRESENTATIVE CAPACITY (1) Where a person signs a bill as drawer, endorser or acceptor, and adds words to his signature, indicating that he signs for or on behalf of a principal, or in a representative character, he is not personally liable thereon ; but the mere addition to his signature of words describing him as an agent, or as filling a representative character, does not exempt him from personal liability. (2) In determining whether a signature on a bill is that of the principal or that of the agent by whose hand it is written, the construction most favourable to the validity of the instrument shall be adopted. SECTION 27: VALUE DEFINED (1) Valuable consideration for a bill may be constituted by- (a) any consideration sufficient to support a simple contract ; (b) an antecedent debt or liability. Such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time. (2) Where value.....

Indian Trusts Act, 1882 Chapter VI

Title: Of the Rights and Liabilities of the Beneficiary

State: Central

Year: 1882

.....and negotiable instruments in the hands of a bona fide holder to whom they have passed in circulation, or shall be deemed to affect the Indian Contract Act, 1872 (9 of 1872) section 108, or the liability of a person to whom a debt or charge is transferred. Section 65 - Acquisition by trustee of trust-property wrongfully converted Where a trustee wrongfully sells or otherwise transfers trust-property and afterwards himself becomes the owner of the property, the property again becomes subject lo the trust, notwithstanding any want of notice on the part of intervening transferees in good faith for consideration. Section 66 - Right in case of blended property Where the trustee wrongfully mingles the trust-property with his own, the beneficiary is entitled to a charge on the whole fund for the amount due to him. Section 67 - Wrongful employment by partner-trustee of trust-property for partnership purposes If a partner, being a trustee, wrongfully employs trust-property in the business or on the account of the partnership, no other partner is liable therefor in his personal capacity to the beneficiaries, unless he had notice of the breach of trust. The partners having.....

Indian Trusts Act, 1882 Chapter IX

Title: Of Certain Obligations in the Nature of Trusts

State: Central

Year: 1882

.....performance could be enforced, the former must hold the property for the benefit of the latter to the extent necessary to give effect to the contract. Section 92 - Purchase by person contracting to buy property to be held on trust Where a person contracts to buy property to be held on trust for certain beneficiaries and buys the property accordingly, he must hold the property for their benefit to the extent necessary to give effect to the contract. Section 93 - Advantage secretly gained by one of several compounding creditors Where creditors compound the debts due to them, and one of such creditors, by a secret arrangement with the debtor, gains an undue advantage over his co-creditors, he must hold for the benefit of such creditors the advantage so gained. Section 94 - Constructive trust in cases not expressly provided for (Rep. by the Benami Transactions (Prohibition) Act, 1988, sec. 7 (w.e.f. 19.5.1988)). Illustrations (a) A, an executor, distributes the assets of his testator B to the legatees without having paid the whole of B's debts. The legatees hold for the benefit of B's creditors, to the extent necessary to satisfy their just demands, the assets so.....

Transfer of Property Act, 1882 Section 53

Title: Fraudulent Transfer

State: Central

Year: 1882

.....execution of his decree) to avoid a transfer on the ground that it has been made with intent to defeat or delay the creditors of the transferor shall be instituted on behalf of, or for the benefit of, all the creditors. (2) Every transfer of immoveable property made without consideration with intent to defraud a subsequent transferee shall be voidable at the option of such transferee. For the purposes of this sub-section, no transfer made without consideration shall be deemed to have been made with intent to defraud by reason only that a subsequent transfer for consideration was made.] _______________________ 1. Substituted by Act 20 of 1929, Section 15, for the original section.

Bengal Embankment Act, 1882 Complete Act

State: West Bengal

Year: 1882

.....subject to the Lieutenant- Governor of Bengal, but only as provided in Part IX.] (Commencement). Rep. by Act 1 of 1903. Section 2 Repeal of former Acts 33. Words rep. by Act 1 of 1903. 44. Words and figures subs, by Ben. Act 1 of 1939. [the Bengal Embankment Act, 1873], with the exception of the sections set out and schedules specified in Schedule I to this Act annexed, shall be repealed. The references in the said sections, which are mentioned in Schedule II to this Act annexed, shall be read as if the references were made to the portions of this Act mentioned against such references respectively in the third column of such schedule. Sections 80 and 81 of this Act shall be applicable respectively to the proclamation and notice mentioned in sections 26 and 28, Bengal Act 6 of 1873. Section 3 Interpretation The following words shall, for the purposes of this Act, have the meanings hereby declared, save where, from the context, a contrary intention appears : "Collector" means any Revenue-officer in independent charge of a district or portion of a district, or specially appointed by the 55. Word subs, by the Adaptation of Laws Order. 1 950. [State] Government of e(West Bengal].....