Which of the following is not an immovable property?
As per Section 3, immovable property does not include standing timber, growing crop and grass. The word standing timber includes Babool Tree, Shisham, Nimb, Papal Banyan, Teak, Bamboo, etc.
Which right is recognized as immovable property?
The following has been judicially recognised as immovable property: (1) Right to collect rent of immovable property. (2) Right to dues from a fair on a piece of land. (3) A right of fisheries.
Is Royalty is a immovable property?
Standing timber, growing crops, grass, fruits upon trees are illustrations of movable property. Sugar stored in a godown, a pala or turn of worship, a right to recover maintenance though charged on land, a royalty, a Decree for the sale of immovable property, a decree for arrears of rent, are movable property.
What is immovable property law?
The law of immovable property is concerned primarily with the relationships which exist between persons who hold, inter alia, interest in , title to or rights over immovable objects that are capable of ownership under a law in force at any one time.
What is immovable property example?
“Immovable property includes; land, buildings, hereditary allowances, right to ways, lights, ferries, fisheries or any other benefit to arise out of land and things attached to the earth, or permanently fastened to anything which is attached to the earth but not standing timber, growing crops nor grass.”
What are three kinds of property?
Types of Property
- Movable and Immovable Property.
- Tangible and Intangible Property.
- Private and Public Property.
- Personal and Real Property.
- Corporeal and Incorporeal Property.
What are the characteristics of immovable property?
“Immovable Property includes land, building, hereditary allowances, rights to ways, lights, ferries, fisheries or any other benefit to arise out of land, and things attached to the earth or permanently fastened to anything which is attached to the earth but not standing timber, growing crops nor grass”.
What is difference between movable and immovable property?
Immovable property commonly refers to real estate (such as your house, factory, manufacturing plant, etc.) while movable property refers to movable assets (such as your computer, jewellery, vehicles, etc.). … It includes any property which can be moved from one place to another.
What is minimum rent in royalty?
It is the minimum sum that is given to the lessor of a property by the lessee so that the lessor receives a minimum amount of sum for a specific period. And the situation where he gets a benefit from or not is called the minimum rent.
How can an immovable property be transferred?
Transfer of immovable property may happen only in certain ways. They can either be through sale, mortgagee, lease, and gifts or through actionable claims. These are modes of transfer. Contract of sale of immovable property is basically a contract, which states terms for the permanent transfer of property.
How can property be transferred?
There are various modes of transferring ownership of property: permanently by 1) relinquishment 2) sale 3) gift; and temporarily by way of 4) mortgage 5) lease and, 6) leave and license agreement.