Property law is the policies, principles and the disputes over the property matters are to be resolved are by these principles, the property transactions are formulated. That's the reason, the advocates help in resolving the property matters. Through these property laws, the economic structure of the society is portrayed. It also reveals the structure of the society as the transfer of property takes place between the spouses and over the generations. As the property law deals with the very fundamental issues like the economic structure of the society and the families in the society, the reflection of the political structure of the society comes out.
Different Types of Transfer of Properties are as follows:
● Sale of the property is the transfer of the ownership in exchange for the price paid or a part is paid and the rest has been promised to be paid. This includes the absolute rights transferred to the property sold. The principal requirements of the process of the sale of property are the parties; subject- matters; and the price of the consideration.
● The Mortgage is the transfer of an interest in a specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt or the performance of an engagement which may give rise to a pecuniary liability. Thus, a
mortgage is the transfer of an interest in the specific movable property as the security of the repayment of the debt.
● The Exchange is the process when the two individuals transfer the ownership one thing for the ownership of another. The things might or
might not be money. The system of exchange is not just related to the lands. This exchange takes place for lands as well as the barter system of
the goods.
● Gift as a transfer of the certain movable or the immovable made voluntarily by one person. The transfer is made by the donor and accepted by the done. This process is done only in the lifetime of the donor. The important elements of the process are the no consideration i.e. nothing to be received in against the gift; the donor, who's giving the gift'sdone, who's receiving the gift; the subject-matter of the gift; the transfer of the gift by the donor; and the acceptance of the gift by the done.
● The Lease is the transfer of immovable property for the rights to enjoy such property for a certain period of time in consideration of the exchange of money. The important components of the lease process are the parties i.e., the lessor or the lessee; the subject-matter precisely the immovable property; the duration or the term of the lease; and the consideration of the lease or the rent.
● License is “Where one person grants to another, or to a definite number of persons, a right to do, or continue to do, in or upon the immovable
property of the grantor, something which would, in the absence of such right, be unlawful, and such right does not amount to an easement or an
interest in the property, the right is called license”.
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