FRAUDULENT TRANSFER UNDER SECTION-53 A TPA

Introduction : -
Each transfer of immobile property created with intent to defeat or delay humans of the transferrer shall be revocable at the choice of any creditor thus defeated or delayed,
And every transfer of immoveable property created inconsiderately, with shall diddle a resulting transferee, is revocable at the choice of such transferee.
It deals with 2 forms--- As so much the primary rule cares, once the thought for transfer and honesty on the a part of transferee square measure gift, the intention of the transferrer to defeat or delay his human is immaterial. Thus,S.53 incorporates a restricted scope restricted to immobile property and to not movable property. What is more the good thing about this section isn’t restricted to existing creditors alone, however it extends to resulting creditors conjointly. This section doesn’t create the interpretation void-ab-initio however solely revocable which to solely at the choice of anyone defeated delayed or defrauded.
Below the transfer of property Act a transfer of immoveable property by a mortal could also be put aside by his human :
A) If the transferee isn’t a transferee in honesty for the transferor’s human, and
B) If the transferee isn’t a transferee in honesty for thought.
Exception : --
A transferee from such mortal are protected -- :
A) If he acquires property for price in honesty while not the data of transferor’s intention.
B) If the himself could be a human and therefore the transfer is formed in satisfaction of his pre-existing debt.
If the human established that transfer was created with the object of defeating him, the shifts on the transferee to prove –
1) That he had paid a good worth, and
2) That he wasn’t a celebration to he fraud.
---VISHNU PRASAD NAIR
     AJEENKYA D. Y. PATIL UNIVERSITY

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