Property and Trust Law

Under section 67 of the transfer of property act, it has been stated that a suit to obtain a decree that a mortgagor shall be absolutely debarred of his right to redeem the mortgaged property is called a suit for foreclosure. 

Section 52 of the Transfer of Property Act speaks about the doctrine of lis pendens.

Under section 5 of the transfer of property act, "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 and one or more other living persons. 

A mortgage by deposit of title deed is called equitable mortagage. An equitable mortgage is that in which the lender is secured by taking possession of all the original title documents of the property that serve as security for the mortgage. 

According to Section 123 of transfer of property act, (i)  for the purpose of making a gift of movable property, the transfer may be effected either by a registered instrument signed and attested by at least two witnesses or by delivery and (ii) for the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.

A lease of immovable property from year to year or for any term exceeding one year or reserving a yearly rent can be made only by a registered instrument.

The act lays down some general rules of succession inter alia to the effect that heirs related to a male or female intestate by full blood are to be preferred to those related by half blood if the nature of relationship is the same in every other respect under section 18.

Section 310 of the Indian Succession Act, 1925 states that if any executor or administrator purchases, either directly or indirectly, any part of the property of the deceased, the sale is voidable at the instance of any other person interested in the property sold. 

The relief is available under section 6 of the specific relief act. It has been stated under section 6 that if any person is dispossessed without his consent of immovable property otherwise than in due course of law, he or any person claiming through him may by suit recover possession thereof, notwithstanding any other title that may be set up in such suit. 

Any person having the possession or control of a particular article of movable property, of which he is not the owner may be compelled specifically to deliver it to the person entitled to its immediate possession in any of the following cases: (a) when the thing claimed is held by the defendant as the agent or trustee of the plaintiff; (b) when compensation in money would not afford the plaintiff adequate relief for the loss of the thing claimed; (c) when it would be extremely difficult to ascertain the actual damage caused by its loss; (d) when the possession of the thing claimed has been wrongfully transferred from the plaintiff.

Right to mere occupancy is not an attribute of ownership.

Movable property not in possession of the judgement debtor can be attached by an order prohibiting the person in possession thereof from giving it to the judgement debtor.

Actionable claim can be transferred. The transfer of an actionable claim whether with or without consideration shall be effected only by the execution of an instrument in writing signed by the transferor or his duly authorised agent.

Under section 55 of the transfer of property act, duties of seller and buyer have been provided.The duty of seller includes to produce title deeds, to disclose patent defects and to execute conveyance.

Section 14 of the Transfer of property Act deals with rule against perpetuity.