Transfer of Property Act, 1882

TRANSFER OF PROPERTY ACT
(IV OF 1883)

Sec.3, explanation 1.

-    Presumption of notice of registered instrument – party having interest in property would be deemed to have notice from the date of registration of such deed.
1995 CLC 1977

Sec. 41, proviso –
Sc.12, 27(b), 42, 54 of Specific Relief Act.

-    Equitable doctrine of proviso to S. 41 which protected a subsequent transferee, it is upon subsequent transferor to establish that he had acted in good faith and had taken reasonable care such as checking with the Sub-Registrar etc. before entering into transaction and that he had given valuable consideration for such transfer. Such equitable doctrine was a deduction from the law of estoppel which must be pleaded clearly with specific facts. Burden of proof is always on the person who pleaded such protection.
Mst. Rubina Badar        Vs.    M/S Long Life Builders.
2012 SCMR 84
Rel: 2002 SCMR 2003

Sec.52

-    Doctrine of lis pendens applicable even to those areas where T.P. Act not applicable.
PLD 1995 Lah. 255

SECTION 53-A & 58

-    Respondent’s property already mortgaged with appellant – he entered another agreement to sell – terms of agreement showed cdlog on equity of redemption and could not be specifically enforced on agreement to sell. Such agreement was “mortgage by way of conditional sale.”
1992 SCMR 417

SECTION 53-A; 54

-    Agreement to sell itself made revocable on payment of advance amount within given period, agreement would get assimilated to sale though legally short of it.
1992 SCMR 417

SECTION 58(b) Equitable Mortgage.

-    Essentials for creation of equitable mortgage by deposit of title deed – law does not require that deposit should be accompanied by some documents evidencing creation of equitable mortgage.

Section 54
Essential elements of Sale:

(i)    The parties.
(ii)    The subject matter
(iii)    The transfer or conveyance
(iv)    Price – consideration.

If any one of the above elements is missing, it is not a “sale transaction”. Ownership on the one hand and price on the other must exist.
Maulvi Naqal-ud-Din    V.    Abdullah & two others.
2012 CLC 125 (Baluchistan)