The Transfer of Property Act, 1882, is a vital piece of legislation in law that governs the transfer of property between living persons. The Act also provides important safeguards against indefinite restrictions on property alienation, a principle seen in the Rule Against Perpetuity, which prevents long-term limitations on ownership rights.
Enacted to provide a uniform framework, this Act simplifies and clarifies the laws relating to property transfers. Whether it involves sales, mortgages, leases, or gifts, the Act ensures legal transparency and fairness.