Download 2. The ban also violates the fundamental right mentioned in Article 15. 2.1. It is humbly and more Summaries Law in PDF only on Docsity! A contract to transfer his immovable property to B by way of sale and put B in possession of the property before a regular Sale-Deed is executed. The contract is said to be partly performed and if later on A refuses to execute regular document of sale and files a suit for eviction against B treating B as trespasser. Then B can resist A’s claim on the ground that the contract of transfer in his favour has partly been performed and that A should not be allowed to go back upon his own word. According to section 53A, the doctrine of part-performance, also known as "equity of part-performance," if a person has taken possession of an immovable property on the basis of a contract of sale and has either performed or is willing to perform his part of the contract, in furtherance of the contract, he cannot be evicted from the property because the sale was unregistered and the legal title has not been transferred to him. This doctrine is founded on the principle that equity looks at what is done rather than what should have been done. This section was inserted through amendment in the year 1929. The following are the essential elements of 1. There must be a contract to transfer for consideration any immovable property. 2. The contract must be in writing signed by the transferor, or by someone on his behalf. 3. The writing must be in such words from which the terms necessary to construe the transfer can be ascertained. 4. The transferee must in part performance of the contract take possession of the property, or, of any part thereof. 5. The transferee must have done some act in furtherance of the contract. 6. The transferee must have performed or be willing to perform his part of the contract. The Exception to Doctrine of Part Performance The proviso to Section 53-A of Transfer of Property Act includes an exception in favour of a transferee for consideration who has no knowledge of the contract or its part performance. This implies that a transferee who acquires the property for consideration without any knowledge of the contract or its execution is not affected by this rule. Any rights the transferee may have against the transferor under this section would not be enforceable against a bona fide transferee for value who has no knowledge of the previous transaction. SERIAL NUMBE R GROUND OF DIFFERENCE VESTED INTEREST CONTINGENT INTEREST 1. Section Vested interest is provided in Section 19 of the Transfer of Property Act, 1882. Contingent interest is provided in Section 21 of the Transfer of Property Act, 1882. 2. Definition It is an interest which is created in favour of a person where time is not specified or a condition of the happening of a specified certain event. The person having the vested interest does not get the possession of that property but has the expectancy to receive it upon happening of a specified certain event. It is an interest which is created in favour of a person on a condition of the happening of a specified uncertain event. The person having the contingent interest does not get the possession of that property but has the expectancy to receive it upon happening of that event but will not receive the property if the event does not happen as the condition is not fulfilled. 3. Condition The condition involves a specified certain event. A certain event means an event that will eventually happen. The condition involves a specified uncertain event. There is a chance of the happening or non- happening of that particular event. 4. Fulfilment of conditions Vested Interest does not entirely depend on the condition as the condition involves a certain event. It creates a present right that is in effect immediately, although the enjoyment is postponed to the time prescribed in the transfer. Contingent interest is entirely dependent on the condition imposed on the transfer. Interest is only transferred to the transferee on the fulfilment of the condition imposed. 5. Right of Ownership This right is created as soon as the interest is vested. There is mere chance to be having the ownership rights. 6. Death of transferee Death of the person who is having this interest will not have any effect over that interest as after the deceased, the interest will vest in his legal heirs. Death of the transferee before getting the possession of the property will result in the failure of continent interest and the property will remain with the transferor. 7. Transferable a nd heritable Vested interest is a Transferable and heritable right. Contingent interest is a Transferable right, but whether it is heritable or not, it depends upon the nature of such any transfer and the condition. 8. The present There is present, There is no present
