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Which transaction is a transfer of ownership by act of parties under the Transfer of Property Act, 1882?

Section 5 concerns conveyances by living persons. A statutory charge arising by operation of law has a different source. Section 118 treats a mutual conveyance of ownership…

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Which transaction is a transfer of ownership by act of parties under the Transfer of Property Act, 1882?

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Answer and explanation

Correct answer B

Section 5 concerns conveyances by living persons. A statutory charge arising by operation of law has a different source.

Section 118 treats a mutual conveyance of ownership of one thing for ownership of another as an exchange.

A personal permission or a memorandum that records existing shares conveys no ownership on the stated facts.

Option feedback

Option A

Personal permission to cross gives no ownership interest in the land.

Option B

A mutual transfer of ownership of one thing for ownership of another is an exchange under section 118.

Option C

This memorandum only records an arrangement and does not effect a conveyance.

Option D

A charge arising by operation of law supplies security without a transfer of ownership by the parties.

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