Legal Status of Perfect and Imperfect Title in Property: A Historical Analysis

34 Pages Posted: 20 Sep 2012

See all articles by Mitali Srivastava

Mitali Srivastava

Rajiv Gandhi National University of Law

Date Written: July 12, 2012

Abstract

In the case of a transfer of property, a person may acquire a contingent interest as against a real interest or vested interest in the property. The relevant provisions are contained under Section 21 of the Transfer of Property Act. According to the statutory provisions, where on a transfer of property an interest is created in favour of a person to take effect only on the happening or not happening of a specified event, he acquires a contingent interest in the property.

In countries with a sophisticated private property system, documents of title are commonly used for real estate, motor vehicles, and some types of intangible property. When such documents are used, they are often part of a registration system whereby ownership of such property can be verified. In some cases, a title can also serve as a permanent legal record of condemnation of property, such as in the case of an automobile junk or salvage title. In the case of real estate, the legal instrument used to transfer title is the deed.

Keywords: Transfer of Property, Title

Suggested Citation

Srivastava, Mitali, Legal Status of Perfect and Imperfect Title in Property: A Historical Analysis (July 12, 2012). Available at SSRN: https://ssrn.com/abstract=2149897 or http://dx.doi.org/10.2139/ssrn.2149897

Mitali Srivastava (Contact Author)

Rajiv Gandhi National University of Law ( email )

Sidhuwal - Bhadson Road
Patiala, PA Punjab 147001
India

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