The term property itself contains a very derivative meaning along with its different uses similarly there are many sources from which a man can conduct income or wealth, thus in propagation when it comes to owning a particular property it has been divided into various elements such as movable and immovable, corporeal and incorporeal.
Therefore in simple terms, a property not only can be defined on its own but it also has economic, social, political sometimes religious, and legal implications there are many other principles to define ownership and proprietorship of a property such as, To avail the right law news, notes, and mock paper can visit the site – “Law Planet”.
Any owner of land, building, plant, furniture, machinery fitting, or other things are collectively considered as movable property, moreover, the main elements which are required to be considered are Patent, Trademark, copyright these three elements are the initial propaganda’s in order to define a particular property by its ownership as it gives a consistent validation.
PROVISIONS CONTAINED UNDER THE TPA ACT
1. Movable Property; it provides no definition of movable property as it has been defined in the general clauses act 1897 two main properties of every description except immovable property act 1908 defines movable property to include property of every description except immovable property but including standing Timber growing crops and grass
2. As per the considerate law there is no definite explanation of property but in order to stimulate and organize it the Transfer of Property Act 1882 has derived it in a much variable and legalized manner comprising of various sections which are as follow;
3. Section 6 lays down that ownership and attainment of property includes an initial right of possession on the owner’s part, along with dominium to conduct a right to the same property which can be transferred or occupied by the real owner
4. The term transfer has been further defined as per the section which consists of in accordance to the TPA act owner of any property should probably agree on the terms and conditions which are hereby contained in the Act
5. Thus to validate a Transfer of Property to any other legal authorized (person) who contracted for the same is required to have an interest with regard to the transfer.
6. This means the transferor and transferee should have consented to a similar process.
7. Conclusively to define the term movable property it has three main elements that are relevant firstly there is no need for its registration under the Indian registration act 1908 second, it implies some general aspects subject to precise restrictions and conditions under the general sales act and the Central Sales Tax Act 1956, third in order to transfer immovable property both parties involved in the ongoing process should have interest for the transfer.
CASE LAWS: (RELATED TO THE ACT)
TATA CONSULTANCY SERVICES V STATE OF AP
This case applies to the following provisions first. Section 2(1) (h) describes movable or immovable property there are certain points to be considered which means the owners position in terms of goods apart from actionable claims, share or security therefore it provides much emphasis on the working and implementation of a particular good comprising of machinery fitting out, or its modification thus including all the relevant condition which are formed under the contract of sale as it also includes Section 5, which consist the requirement to pay all the taxes along with all the relevant provisions provided under the act and in case if any of the goods has been effected there is no ratio for further tax once it has been taxed already by the actual owner.
Other Relevant Cases;
- Mst Rukhmabai V Lala Laxminarayan and Others
- Sno decision No.C V Income Tax Depanment
- Linga Raju V State of Chattisgarh
Similarly to ascertain the actual meaning of movable property considering the legal terminologies there are certain points that make it prompt and understandable generally as per the legal system (civil)
- Movable property is also known as personal property which as a basic definition encloses that a property can be shifted from one place to another without any impediment.
- Though to delineate the term there are other ways as to (Transfer of Property) provided under the TPA act which are Sale, Mortgage, Charge, Exchange and Gift. These term denotes the analysis of how the process of transfer can be conducted initially,
Other than this it lays down certain other provisions pertaining to the Specific Relief Act 1963. a well-owned property consists of the right to possession and other certain relevant rights as well, to recover previous owned account the principles which have been provided under sections 7 and 8 of this act gives an exact assurance as to reposition to the actual owner only if they apply to the provisions contained under these two sections of the SRA Act, thus once the position has been lost the same person who was previously owned the property needs to provide the legal terminologies as to attain his possession again. Law always plays a crucial role in a country’s development. To know about the “Harvey V Facey Case” can visit and explore the knowledge.
Moreover, another important element of this act is any person who has not been given owners till the date, yet he repeatedly asks for possession or the property, which gives a questionable right that induces the word compromise which initially is not a transfer as in the previous era, the same person who has been asking for its position, whereas there is a defined title which has been assumed, if the parties can consent for the same,
A person exercising powers over the property gives the credential to another person as to induce a deed or appointment the same transfer can be done by any other person which can be known as an appointee which may be given the responsibility and powers to exercise the same, thus it is always not required in the process to estimate the actual ownership of a property to the person owning it, the process of transfer can be further defined as:
Person Eligible to Transfer: This includes and comprises any person who is an actual owner who can anytime contract or dispose of or his actual property within the prescribed limit by the law.
A Minor Person, to enable this process a person need s to acquire a certain age that has been prescribed by the law if the person going through any contract, has not attained that certain age the same contract would be held void as a minor person is not competent to contract. Lunatic Person, this consists of the fact that a person having full knowledge and consent towards the contract and all the conditions applied inside the contract having due knowledge and capability to establish a general sense of being without any unsoundness of mind wherein the same person is unable to understand terms applied under the contract then he is not eligible to contract as his state of mind does not permit him to do such an act, there tore without these conditions a process or TPA is incomplete and invalid one must know that how to exercise provisions that have been laved down under the act, conclusively apply those elements in order to accumulate the process