Transfer of Development Rights
Querist :
Anonymous
(Querist) 06 July 2011
This query is : Resolved
My mothers land of 66 yards was acquired for road widening by muncipal corporation of vijayawada in 2005. she is entitled for Transfer of Development Rights. Can she gift them to me in her will along with the building she owns. She is yet to recieve them from the muncipal corporation. What should be the wording in the will ( like - here by gift all the tdrs with respect to NTS no --- from vmc to my son --- ). Kindly advice
Ravikant Soni
(Expert) 06 July 2011
It is an actionable claim and can be transferred.
Regarding transfer of actionable claims provisions are there in TP Act.
130. Transfer of actionable claims.-(1)The transfer of an actionable claim whether with or without consideration shall be effected only by the execution of an instrument in writing signed by the transferor or his duly authorized agent,*** shall be complete and effectual upon the execution of such instrument, and thereupon all the rights and remedies of the transferor, whether such notice of the transfer as is hereinafter provided by given or not:
Provided that every dealing with the debt or other actionable claim by the debtor or other person from or against whom the transferor would, but for such instrument of transfer as aforesaid, have been entitled to recover or enforce such debt or other actionable claim, shall(save we where the debtor or other person is a party to the transfer or has received express notice thereof as hereinafter provided) be valid as against such transfer.
(2) The transferee of an actionable claim may, upon the execution of such instrument of transfer as aforesaid, sue or institute proceedings for the same in his own name without obtaining the transferor’s consent to such suit or proceedings and without making him a party thereto.
Exception.-Nothing in this section applies to the transfer of a marine or fire policy of insurance or affects the provisions of Section 38 of the insurance Act, 1938.
Illustrations.-(I) A owes money to B. who transfers the debt to C. B. then demands the debt from A, who, not having received notice of the transfer, as prescribed in Section 131 pays B. The payment is valid, and C cannot sue A for the debt.
(ii) A effects a policy on his own life with an Insurance Company and assigns it to a Bank for securing the payment of an existing or future debt. If A, the Bank is entitled to receive the amount of the policy and to sue on it without the concurrence of A’s executor, subject to the proviso in sub-section (1) of Section 130 and to the provisions of Section 132.
