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Section 53 - Fraudulent transfer : Transfer of Property Act, 1882

 

 

What is Fraudulent transfer? Section 53 of Transfer of Property Act, 1882

Section 53 of Transfer of Property Act 1882 : "Fraudulent transfer"

53. (1) Every transfer of immovable property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed.

Nothing in this sub-section shall impair the rights of a transferee in good faith and for consideration.

Nothing in this sub-section shall affect any law for the time being in force relating to insolvency.

A suit instituted by a creditor (which term includes a decree-holder whether he has or has not applied for 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 immovable 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.

 

 

 

TRANSFER OF PROPERTY ACT 1882

Section 41 - Transfer by ostensible owner

Section 42 - Transfer by person having authority to revoke former transfer

Section 43 - Transfer by unauthorised person who subsequently acquires interest in property transferred

Section 44 - Transfer by one co-owner

Section 45 - Joint transfer for consideration

 

 

Section 46 - Transfer for consideration by persons having distinct interests

Section 47 - Transfer by co-owners of share in common property

Section 48 - Priority of rights created by transfer

Section 49 - Transferee's right under policy

Section 50 - Rent bona fide paid to holder under defective title

 

 

Section 51 - Improvements made by bona fide holders under defective titles

Section 52 - Transfer of property pending suit relating thereto

Section 53 - Fraudulent transfer

Section 53A - Part performance

CHAPTER III
SALES OF IMMOVABLE PROPERTY

Section 54 - Sale defined

Section 55 - Rights and liabilities of buyer and seller

 

 

Section 56 - Marshalling by subsequent purchaser

Section 57 - Provision by Court for incumbrances, and sale freed therefrom

CHAPTER IV
OF MORTGAGES OF IMMOVABLE PROPERTY AND CHARGES

Section 58 - Mortgage, mortgagor, mortgagee, mortgage-money and mortgage-deed defined

Section 59 - Mortgage when to be by assurance

Section 59A - References to mortgagors and mortgagees to include persons deriving title from them

Section 60 - Right of mortgagor to redeem

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