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TRANSFER OF PROPERTY
Introduction
According to the Transfer of
Property Act 1882,
“Transfer of Property“ means an act by
which a person conveys...
Transfer of property
 Sale is the first step in the “
TRANSFER OF PROPERTY IN
GOODS “ by the seller to the buyer.
 The P...
Transfer of property(contd..)
 Property in Goods is different from
Possession of Goods.
 Possession of Goods refers to t...
Importance of transfer of
property
 Risk follows ownership
 if property has passed to the buyer,
he becomes the owner of...
Importance of transfer of
property(contd..)
 Suit for price
Seller become entitled to recover price
of goods only when p...
Time when property passes
 1)Specific or ascertained goods.
 2)Unascertained goods.
Specific or ascertained goods
Goods that are existing at the time of
contract of sale and it is identified and
agreed upo...
Rules as regards ascertaining
goods (sec.20-24)
 1)Passing of property at time of
contract
When there is a unconditional...
Passing of property delayed beyond
date of contract
 Goods not in deliverable state
 Something has to be done by the
sel...
Passing of property delayed
beyond date of contract(contd..)
 When price of goods to be
ascertained by weighing or
measur...
Unascertained or future goods
(sec.23)
 There is a contract for the sale of
unascertained goods, property in the
goods in...
Unascertained or future
goods(contd..)
 Sale “On Approval” or Sale or
Return” basis
Where goods are delivered to the
buy...
Unascertained or future
goods(contd..)
 Essentials of valid appropriation
1.The appropriation must be of goods
answering ...
Unascertained or future
goods(contd..)
 Delivery to carrier[sec.23(2)].
Delivery to a carrier without reserving
the right...
Transfer of title by Non-owners
(sec.27-30)
 Transfer of title by Non-owners
(sec.27-30)
 The general rule is that only ...
Exception of the rule
 Sale by mercantile agent.(sec.27)
It as an agent having in the customary
course of business as su...
Exception of the rule(contd..)
 Sale by a joint-owner.(sec.28)
Several joint owners of goods has the
sole possession the...
Exception of the rule(contd..)
 Sale by a person in possession
under a voidable contract(sec.29)
A person who has obtain...
Exception of the rule(contd..)
 Sale by a seller in possession of
goods after sale.(sec.30)
A seller having sold goods, ...
Exception of the rule(contd..)
 Sale by buyer in possession of
goods.(sec.30(2))
A person having bought or agreed to buy...
Exception of the rule(contd..)
 Sale by an unpaid seller.(sec.54(3))
An unpaid of goods who has
exercised his right of t...
Transfer of property
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Transfer of property

  1. 1. TRANSFER OF PROPERTY
  2. 2. Introduction According to the Transfer of Property Act 1882, “Transfer of Property“ means an act by which a person conveys property to one or more persons. The act of transfer may be done in the present or for the future. The person may include an individual, company or association or body of individuals, and any kind of property may be transferred, including the transfer of immovable property.
  3. 3. Transfer of property  Sale is the first step in the “ TRANSFER OF PROPERTY IN GOODS “ by the seller to the buyer.  The Phrase “ TRANSFER OF PROPERTY IN GOODS “ means Transfer of ownership of the Goods from one person to another.
  4. 4. Transfer of property(contd..)  Property in Goods is different from Possession of Goods.  Possession of Goods refers to the custody over the Goods whereas Property in Goods means ownership over the Goods.
  5. 5. Importance of transfer of property  Risk follows ownership  if property has passed to the buyer, he becomes the owner of the goods and then the risk of destruction, damage or loss.  Action against third parties  if goods are damaged by action of third parties, only owner of goods can take the action.
  6. 6. Importance of transfer of property(contd..)  Suit for price Seller become entitled to recover price of goods only when property in goods has passed to buyer.  Insolvency If the ownership has passed to buyer and buyer became insolvent, buyer’s official receiver can take possession of goods or vice versa...
  7. 7. Time when property passes  1)Specific or ascertained goods.  2)Unascertained goods.
  8. 8. Specific or ascertained goods Goods that are existing at the time of contract of sale and it is identified and agreed upon time of sale. Section 19 of Sale of Goods Act provides “Where there s a contract for sale of specific or ascertained goods,the property in them is transferred to buyer at such time as the parties to contract intend to be transferred”.
  9. 9. Rules as regards ascertaining goods (sec.20-24)  1)Passing of property at time of contract When there is a unconditional contract for the sale of goods in a deliverable state, The property in goods passes to buyer when contract is made. The payment of price of delivery does not prevent property in goods passing at once.
  10. 10. Passing of property delayed beyond date of contract  Goods not in deliverable state  Something has to be done by the seller to put them in a deliverable state, property passes only when such thing is done, and the buyer has notice thereof.
  11. 11. Passing of property delayed beyond date of contract(contd..)  When price of goods to be ascertained by weighing or measurement Where there is a contractor for the sale of specific goods in a deliverable state but seller is bound to weigh, test or do some other thing with reference to them, for ascertaining the price, the property does not pass till such act or thing is done and the buyer has notice of it.(sec.22).
  12. 12. Unascertained or future goods (sec.23)  There is a contract for the sale of unascertained goods, property in the goods in not transferred to the buyer unless and until the goods are ascertained.(sec18).  Process of ascertainment involves separating, weighing, measuring, counting.
  13. 13. Unascertained or future goods(contd..)  Sale “On Approval” or Sale or Return” basis Where goods are delivered to the buyer ‘on approval’ or on ‘Sale or return’ or similar terms, the property passes to the buyer:
  14. 14. Unascertained or future goods(contd..)  Essentials of valid appropriation 1.The appropriation must be of goods answering contract description. 2.The appropriation must be intentional. 3.The appropriation must be made either by seller with the assent of buyer or by the buyer with the assent of seller. 4.The appropriation must be unconditional.
  15. 15. Unascertained or future goods(contd..)  Delivery to carrier[sec.23(2)]. Delivery to a carrier without reserving the right of disposal is a delivery to the buyer and the property passes at once at a time of delivery to the carrier.  Reservation of right of disposal(sec.25) Reserving a right to dispose of the goods until certain conditions(like payment of price) are fulfilled.
  16. 16. Transfer of title by Non-owners (sec.27-30)  Transfer of title by Non-owners (sec.27-30)  The general rule is that only the owner of goods can transfer a good title. No one can give better title than he himself has. This rule is expressed by the maxim “Nemo dat quod non habet,” which mean “that no one can give what he himself has not.”
  17. 17. Exception of the rule  Sale by mercantile agent.(sec.27) It as an agent having in the customary course of business as such agent authority either to sell goods for the purpose of sale, or to buy goods, or to raise money on the security of goods.
  18. 18. Exception of the rule(contd..)  Sale by a joint-owner.(sec.28) Several joint owners of goods has the sole possession thereof, with the consent of the others, any purchaser from such person, for value without notice at the time, of the seller’s want of authority to sell, acquire a good title thereof against the other joint owners.
  19. 19. Exception of the rule(contd..)  Sale by a person in possession under a voidable contract(sec.29) A person who has obtained possession of goods under a contract which is voidable on the ground of fraud, misrepresentation, coercion, or undue influence, can convey a good title, provided the sale takes place before the voidable contract is
  20. 20. Exception of the rule(contd..)  Sale by a seller in possession of goods after sale.(sec.30) A seller having sold goods, continues in possession thereof or title to the goods, the transfer by such person or by a mercantile agent acting for such person, of the same, by way of sale will pass a good title to the transferee, if such latter person has acted in good faith and without notice of the previous sale.
  21. 21. Exception of the rule(contd..)  Sale by buyer in possession of goods.(sec.30(2)) A person having bought or agreed to buy obtains, with the consent of the seller, possession of the goods or of the documents of title to the goods. The delivery of such person, of the goods or documents, pledge or other disposition thereof will be valid and effective, if the person receiving the same, acted bonafide and without notice of the seller’s lien, if any.
  22. 22. Exception of the rule(contd..)  Sale by an unpaid seller.(sec.54(3)) An unpaid of goods who has exercised his right of the lien or stoppage in transit can, even though the ownership in them has passed to the buyer, resell the goods and convey a valid to another buyer, though no notice of re-seller has been given to the original buyer.
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