What is Transfer for consideration by persons having distinct interests? Section 46 of Transfer of Property Act, 1882
46. Where immovable property is transferred for consideration by persons having distinct interests therein, the transferors are, in the absence of a contract to the contrary, entitled to share in the consideration equally, where their interests in the property were of equal value, and, where such interests were of unequal value, proportionately to the value of their respective interests.
Illustrations
(a) A, owning a moiety, and B and C, each a quarter share, of
mauza Sultanpur, exchange an eighth share of that mauza for a
quarter share of mauza Lalpura. There being no agreement to the
contrary, A is entitled to an eighth share in Lalpura, and B and
C each to a sixteenth share in that mauza.
(b) A, being entitled to a life-interest in mauza Atrali and B and C, to the reversion, sell the mauza for Rs. 1,000. A's life-interest is ascertained to be worth Rs. 600, the reversion Rs. 400. A is entitled to receive Rs. 600 out of the purchase-money. B and C to receive Rs. 400.
Section 41 - Transfer by ostensible owner
Section 42 - Transfer by person having authority to revoke former transfer
Section 44 - Transfer by one co-owner
Section 45 - Joint transfer for consideration
Section 46 - Transfer for consideration by persons having distinct interests
Section 47 - Transfer by co-owners of share in common property
Section 48 - Priority of rights created by transfer
Section 49 - Transferee's right under policy
Section 50 - Rent bona fide paid to holder under defective title
Section 51 - Improvements made by bona fide holders under defective titles
Section 52 - Transfer of property pending suit relating thereto
Section 53 - Fraudulent transfer
Section 53A - Part performance
CHAPTER III
SALES OF IMMOVABLE PROPERTY
Section 55 - Rights and liabilities of buyer and seller
Section 56 - Marshalling by subsequent purchaser
Section 57 - Provision by Court for incumbrances, and sale freed therefrom
CHAPTER IV
OF MORTGAGES OF IMMOVABLE PROPERTY AND CHARGES
Section 58 - Mortgage, mortgagor, mortgagee, mortgage-money and mortgage-deed defined
Section 59 - Mortgage when to be by assurance
Section 59A - References to mortgagors and mortgagees to include persons deriving title from them