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…
Choose your answer
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?
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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