TP Act MCQ Quiz in मल्याळम - Objective Question with Answer for TP Act - സൗജന്യ PDF ഡൗൺലോഡ് ചെയ്യുക

The correct answer is option 2.

Key Points

• Section 26 of TP Act says Fulfilment of condition precedent.—Where the terms of a transfer of property impose a condition to be fulfilled before a person can take an interest in the property, the condition shall be deemed to have been fulfilled if it has been substantially complied with.
• The 'Doctrine of Cy-près' as applied in the context of the Transfer of Property Act appears to be referenced in Section 26 of the act, based on the provided search results.
• However, it's important to clarify that the term "cy-près" originates from French, meaning "as near as possible," and is primarily utilized within the sphere of charitable trusts or when the original intentions of a grant or will cannot be precisely fulfilled.
• The doctrine allows for the modification of the terms of a charitable trust or bequest to make its execution as close as possible to the original intent of the donor or testator when the original terms cannot be complied with due to impracticability or illegality.
• In the context of the Transfer of Property Act, Section 26 does not directly invoke the doctrine of cy-près in the traditional sense related to charitable trusts.
• The Act, which governs the transfer of property in India, doesn't specifically mention the doctrine of cy-près. Sections of the Act deal with various elements of property transfer, including conditions affecting the operation and limitations of transfers.
• If we're looking specifically at Section 26, it addresses the scenario where the interest created for the benefit of a person is contingent upon that person attaining a particular age, and they die before reaching that age.
• In such cases, if there are any other persons in whose favor interests are created contingent upon the happening of the same event (the person reaching the particular age), those interests also fail.
• This provision, while it involves the contingency of interests and their failure, does not embed the traditional "cy-près" doctrine as understood in charitable trust law.

The correct answer is option 1.

Key Points

• This is principally defined under Section 20 of the Act, which deals with the transfer of interest to an unborn person.
• According to this provision, an interest created for the benefit of an unborn person vests in him upon his birth, unless a contrary intention appears from the terms of the transfer.
• This means that the unborn person, upon his birth, acquires a legal right to the property, and this right is termed 'vested interest'.
• However, it is essential to clarify that while this vested interest is acquired at birth, the actual enjoyment of the property might be postponed to a future date, depending on the conditions set out in the transfer.
• Furthermore, the Act requires, as detailed in Section 13, that for a transfer to an unborn person to be valid, it must be made through a trust.
• The property must be transferred to a trustee(s) who holds it for the benefit of the unborn person.
• The property or interest therein must be explicitly transferred so that it vests in the unborn upon their birth, following the cessation of any prior interest created by the same transfer.

The correct answer is Option 2. 

Key PointsUnder Section 134 of the Transfer of property Act, 1882 Mortgaged debt is defined.

It states : Where a debt is transferred for the purpose of securing an existing or future debt, the debt so transferred, if received by the transferor or recovered by the transferee, is applicable, first, in payment of the costs of such recovery: secondly, in or towards satisfaction of the amount for the time being secured by the transfer; and the residue, if any, belongs to the transferor or other person entitled to receive the same.

Additional Information

•  A mortgaged debt refers to a debt secured by a mortgage. In a mortgage transaction, the borrower (mortgagor) pledges property as security for a loan or debt owed to the lender (mortgagee). If the borrower fails to repay the debt according to the terms of the mortgage agreement, the lender has the right to take possession of the mortgaged property and sell it to recover the outstanding debt.
• The Transfer of Property Act governs the rights and obligations of parties involved in mortgage transactions, including the creation, transfer, and extinguishment of mortgages. It provides legal mechanisms for the enforcement of mortgage rights, such as foreclosure and sale of mortgaged property.

The correct option is Only II.

Key Points

• A usufructuary mortgage is a contract where the borrower transfers possession and usage rights of a property to the lender while retaining ownership.
• The borrower, known as the mortgagor, and the lender known as the mortgagee, are granted the right to enjoy the income or produce generated by the property during the mortgage period. 
• An usufructuary mortgage is a specific type of mortgage that is governed by the Transfer of Property Act of 1882.
• It allows the borrower to transfer possession and usage rights of the mortgaged property to the lender while retaining ownership.
• During the mortgage period, the mortgagee retains possession of the property and can enjoy the benefits derived from it. 
• A usufructuary mortgages are typically used in cases where the borrower needs funds and is willing to provide the lender with the income or produce from the property as security.
• This type of mortgage allows the borrower to retain ownership while providing the lender with an income stream to recover the loan amount.
• Definition:
  • A mortgage arrangement where the mortgagor transfers possession and usage rights to the mortgagee while retaining ownership. 
• Possession:
  • The Mortgagor delivers possession or undertakes to deliver possession of the property to the mortgagee. 
• Retention of Possession:
  • The Mortgagee retains possession until the mortgage money is paid or appropriated from the property’s rents and profits. 
• Personal Liability:
  • Mortgagor has no personal liability to repay the mortgage money.
• Foreclosure/Sale:
  • The Mortgagee cannot foreclose the mortgage or sue for the sale of the property. 
• Right of Redemption:
  • ​The Mortgagor has the right to redeem the property by paying the amount due or discharging the debt with rents and profits received by the mortgagee.
• Time Limit:
  • No specific time limit is set for repayment. 
• Registration Requirement:
  • If the mortgage amount is Rs. 100 or more, registration is required.
  • For amounts less than Rs. 100, it can be a registered deed or delivery of property.

The correct answer is Option 3.

Key Points

• Section 125 of the Transfer of Property Act says that in case a property is gifted to more than one donee, one of whom does not accept it, the gift, to the extent of the interest which he would have taken becomes void. Such interest reverts to the transferor and does not go to the other donee.
• A gift made to two donees jointly with the right of survivorship is valid, and upon the death of one, the surviving donee takes the whole.
   

Additional Information

• Section 126 – When gift may be suspended or revoked.
• Section 127 – Onerous gifts.
• Section 124 – Gift of existing and future property.

The correct answer is Option 3.

Key Points

• Section 67 of the Transfer of Property Act, 1882, provides for the Right to foreclosure or sale.
• It states that —In the absence of a contract to the contrary, the mortgagee has, at any time after the mortgage-money has become due to him, and before a decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited as hereinafter provided, a right to obtain from the Court a decree that the mortgagor shall be absolutely debarred of his right to redeem the property, or a decree that the property be sold.
  A suit to obtain a decree that a mortgagor shall be absolutely debarred of his right to redeem the mortgaged property is called a suit for foreclosure.
  Nothing in this section shall be deemed—
  (a) to authorise any mortgagee other than a mortgagee by conditional sale or a mortgagee under an anomalous mortgage by the terms of which he is entitled to foreclose, to institute a suit for foreclosure, or an usufructuary mortgagee as such or a mortgagee by conditional sale as such to institute a suit for sale; or
  (b) to authorise a mortgagor who holds the mortgagee's rights as his trustee or legal representative, and who may sue for a sale of the property, to institute a suit for foreclosure; or (c) to authorise the mortgagee of a railway, canal or other work in the maintenance of which the public are interested, to institute a suit for foreclosure or sale; or
  (d) to authorise a person interested in part only of the mortgage-money to-institute a suit relating only to a corresponding part of the mortgaged property, unless the mortgagees have, with the consent of the mortgagor, severed their interests under the mortgage.

The correct answer is B is deemed to have fulfilled the condition.

Key Points

• The above question is taken from illustration (a) of Section 26 of the Transfer of Property Act.
• Section 26 lays down Fulfilment of condition precedent
• It states that where the terms of a transfer of property impose a condition to be fulfilled before a person can take an interest in the property, the condition shall be deemed to have been fulfilled if it has been substantially complied with.

The correct answer is does not take effect.

Key Points

• The above question is taken from the illustration of Section 13 of the Transfer of Property Act.
• The interest so created for the benefit of the eldest son does not take effect, because it does not extend to the whole of A's remaining interest in the property.
• Section 13 states about transfer for the benefit of unborn person.
• It lays down that where, on a transfer of property, an interest therein is created for the benefit of a person not in existence at the date of the transfer, subject to a prior interest created by the same transfer, the interest created for the benefit of such person shall not take effect, unless it extends to the whole of the remaining interest of the transferor in the property.

The correct answer is Invalid and unenforceable

Key Points

• Section 124 of the Transfer of Property Act states about gift of existing and future property.
• It lays down that a gift comprising both existing and future property is void as to the latter.

Additional Information 

• The following gifts are void:

1. A gift made for an unlawful purpose.
2. A gift depending on a condition, the fulfilment of which is impossible, or forbidden by law.
3. When the done dies before acceptance.
4. Gift by a person incompetent to contract.
5. A gift of future property.
6. A gift of a thing to two or more persons, of whom one does not accept it, is void as to the interest which he would have taken had he accepted.
7. A gift which, under an agreement between the parties, is revocable, wholly or in part, at the mere will of the donor, is void wholly or in part, as the case may be.​​

The correct answer is movable property.

Key PointsSection 53 deals with Fradulent transfer.

(1) Every transfer of immoveable property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed.
Nothing in this sub-section shall impair the rights of a transferee in good faith and for consideration.
Nothing in this sub-section shall affect any law for the time being in force relating to insolvency.
A suit instituted by a creditor (which term includes a decree -holder whether he has or has not applied for execution of his decree) to avoid a transfer on the ground that it has been made with intent to defeat or delay the creditors of the transferor, shall be instituted on behalf of, or for the benefit of, all the creditors.
(2) Every transfer of immoveable property made without consideration with intent to defraud a subsequent transferee shall be voidable at the option of such transferee.
For the purposes of this sub-section, no transfer made without consideration shall be deemed to have been made with intent to defraud by reason only that a subsequent transfer for consideration was made.