The Transfer of Property Act, 1882 is a key legislation in Indian property law, enacted to define and regulate the transfer of property between living persons. It came into force on 1st July 1882 and applies across India, except in certain regions where local laws may prevail. The Act consolidates rules governing various types of property transfers, including sales, mortgages, leases, gifts, and exchanges, ensuring clarity and uniformity in transactions.
This Act plays a crucial role in the legal system by establishing rights and obligations of parties involved in property transfers, safeguarding against fraudulent dealings, and providing a structured framework for disputes. It complements other laws like the Indian Contract Act, 1872, and the Registration Act, 1908, ensuring seamless legal processes.
Defines valid transfers and conditions for property transactions.
Covers mortgages, leases, and actionable claims.
Protects buyers and lenders while preventing unfair practices.
The Act remains foundational in property-related legal matters, balancing individual rights with public interest.