Question
Sale of tangible immovable property may be made by
delivery of the property if the value of the property is:Solution
Transfer of Property Act: Section 54 “Sale” defined: "Sale" is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised. Sale how mad-- Such transfer, in the case of tangible immoveable property of the value of one hundred rupees and upwards, or in the case of a reversion or other intangible thing, can be made only by a registered instrument. In the case of tangible immoveable property of a value less than one hundred rupees, such transfer may be made either by a registered instrument or by delivery of the property. Delivery of tangible immoveable property takes place when the seller places the buyer, or such person as he directs, in possession of the property.
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