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Consider the following statements in the context of the Transfer of Property Act, 1882:- In the case of…

Section 54 requires a registered instrument for a sale of tangible immovable property worth one hundred rupees or more. Below one hundred rupees, the provision permits…

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Consider the following statements in the context of the Transfer of Property Act, 1882:-
In the case of tangible immovable property where there is a transfer of ownership in exchange for a price paid,
(i) If the value of the property is one thousand rupees or less, the transfer may be made without a registered instrument.
(ii) If the value of the property is one hundred rupees or more, the transfer can be made only by a registered instrument.
(iii) If the value of the property is less than one hundred rupees, the transfer may be made either by a registered instrument or by delivery of the property.
(iv) Irrespective of the value of the property, the transfer may be made without a registered instrument.
Which of the above statements are correct?

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Answer and explanation

Correct answer B

Section 54 requires a registered instrument for a sale of tangible immovable property worth one hundred rupees or more. Below one hundred rupees, the provision permits either a registered instrument or delivery of the property. The statutory dividing line is therefore one hundred rupees; neither a one-thousand-rupee exemption nor a value-independent exemption matches the section.

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