www.Aaptaxlaw.com
 
 
 

Section 57 - Provision by Court for incumbrances, and sale freed therefrom : Transfer of Property Act, 1882

 

 

What is Provision by Court for incumbrances, and sale freed therefrom? Section 57 of Transfer of Property Act, 1882

Section 57 of Transfer of Property Act 1882 : "Provision by Court for incumbrances, and sale freed therefrom"

57. (a) Where immovable property subject to any incumbrance, whether immediately payable or not, is sold by the court or in execution of a decree, or out of Court, the court may, if it thinks fit, on the application of any party to the sale, direct or allow payment into Court,-

(1) in case of an annual or monthly sum charged on the property, or of a capital sum charged on a determinable interest in the property-of such amount as, when invested in securities of the Central Government, the Court considers will be sufficient, by means of the interest thereof, to keep down or otherwise provide for that charge, and

(2) in any other case of a capital sum charged on the property-of the amount sufficient to meet the incumbrance and any interest due thereon.
But in either case there shall also be paid into Court such additional amount as the Court considers will be sufficient to meet the contingency of further costs, expenses and interest, and any other contingency, except depreciation of investments, not exceeding one-tenth part of the original amount to be paid in, unless the Court for special reasons (which it shall record) thinks fit to require a larger additional amount.

(b) Thereupon the Court may, if it thinks fit, and after notice to the incumbrance, unless the Court, for reasons to be recorded in writing, thinks fit to dispense with such notice, declare the property to be freed from the incumbrance, and make any order for conveyance, or vesting order, proper for giving effect to the sale, and give directions for the retention and investment of the money in Court.

 

(c) After notice served on the persons interested in or entitled to the money or fund in Court, the Court may direct payment or transfer thereof to the persons entitled to receive or give a discharge for the same, and generally may give directions respecting the application or distribution of the capital or income thereof.

(d) An appeal shall lie from any declaration, order or direction under this section as if the same were a decree.

(e) In this section "Court" means (1) a High Court in the exercise of its ordinary or extraordinary original civil jurisdiction, (2) the Court of a District Judge within the local limits of whose jurisdiction the property or any part thereof is situate, (3) any other Court which the State Government may, from time to time, by notification in the Official Gazette, declare to be competent to exercise the jurisdiction conferred by this section.

 

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

Home     About Us     Privacy Policy     Disclaimer    Contact Us  Sitemap