Lawgist46Transfer for consideration by persons having distinct interests
Where immoveable property is transferred for consideration by persons having distinct interests therein, the transferors are, in the absence of a contract to the contrary, entitled to share in the consideration equally, where their interests in the property were of equal value, and, where such interests were of unequal value, proportionately to the value of their respective interests.
Illustration
(a) A, owing a moiety, and B and C, each a quarter share, of mauza Sultanpur, exchange an eighth share of that mauza for a quarter share of mauza Lalpura. There being no agreement to the contrary, A is entitled to an eighth share in Lalpura, and B and C each to a sixteenth share in that mauza.
(b) A, being entitled to a life-interest in mauza Atrali and B and C to the reversion, sell the mauza for Rs. 1,000. A's lifeinterest is ascertained to be worth Rs. 600, the reversion Rs. 400. A is entitled to receive Rs. 600 out of the purchase-money. B and C to receive Rs. 4000.
Illustration
(a) a Cowing a moiety, and B and C, each a quarter share, of mauza Sultanpur exchange an eighth share of that mauza for a quarter share of mauza Lalpura. There being no agreement to the contrary, A is entitled to an eighth share in Lalpura, and B and C each to a sixteenth share in that mauza.
(b) A, being entitled to a life-interest in mauza Atrali and B and C to the reversion, sell the mauza for Rs. 1,000. A's lifeinterest is ascertained to be worth Rs. 600, the reversion Rs. 400. A is entitled to receive Rs 600 out of the purchase-money. B and C to receive Rs. 4000.
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- 38 Transfer by person authori sed only under certain circumstances to transfer
- 39 Transfer where third person is entitled to maintenance
- 40 Burden of obligation imposing restriction on use of land, or of obligation annexed to ownership but not amounting to interest or easement
- 41 Transfer by ostensible owner
- 42 Transfer by person having authority to revoke former transfer
- 43 Transfer by unauthorised person who subsequently acquires interest in property transferred
- 44 Transfer by one co-owner
- 45 Joint transfer for consideration
- 46 Transfer for consideration by persons having distinct interests
- 47 Transfer by co-owners of share in common property
- 48 Priority of rights created by transfer
- 49 Transferee's right under policy
- 50 Rent bona fide paid to holder under defective title
- 51 Improvements made by bona fide holders under defective titles
- 52 Transfer of property pending suit relating thereto
- 53 Fraudulent transfer
- 53A Part performance
