Can property rights be transferred?
Rights in property can be transferred only on execution and registration of a sale deed in favour of the buyer. A conveyance deed is executed to transfer title from one person to another. Generally, an owner can transfer his property unless there is a legal restriction barring such transfer.
Who can transfer the property under the Transfer of Property Act?
According to Section 6 of the Transfer of Property Act, the property of any kind may be transferred. The person insisting non-transferability must prove the existence of some law or custom which restricts the right of transfer.
Can a lawsuit be filed against you after a fraudulent transfer?
Especially when doing so after a lawsuit has been brought against you in court. The ruling the courts would render against you in this instance would likely be one of fraudulent conveyance. Yes, it does have the hypothetically scary “f” word in the clause. However, fraudulent conveyance, also known as fraudulent transfer, is merely a civil matter.
What happens if you transfer property in bankruptcy?
In the case of Bankruptcy, property transfers in the previous year will most likely be examined closely for intent to delay or hinder a creditor. If you commit fraudulent transfer of your property, your Bankruptcy proceedings could be unpleasant.
Can a property be transferred without both spouses consent?
When this occurs, each spouse generally holds a one-half interest in the property. That also means that the property cannot be transferred without both spouses’ permission. As property is held in such high regard in the United States, having a good title is critical when you transfer property.
Can a person go to jail for transferring an asset?
However, even if you are aware that your assets are at risk and you move that asset out of reach, you have NOT committed a crime. In almost all cases it is merely a civil matter and you cannot go to jail for it.