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Section 49 - Transferee's right under policy : Transfer of Property Act, 1882

What is Transferee's right under policy? Section 49 of Transfer of Property Act, 1882



Section 49 of Transfer of Property Act 1882 : "Transferee's right under policy"

49. Where immovable property is transferred for consideration, and such property or any part thereof is at the date of the transfer insured against loss or damages by fire, the transferee, in case of such loss or damage, may, in the absence of a contract to the contrary, require any money which the transferor actually receives under the policy, or so much thereof as may be necessary, to be applied in reinstating the property.

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