Right to occupy flat is a species of property and has stamp

Right to occupy flat is a species of property and has stamp of transferability and can be attached by court

We find that neither the Companies Act nor any other
statute make any provision prohibiting the transfer of
species of interest to third parties or to avail of loan for the
flat owners’ benefit.
A legal bar on the saleability or
transferability of such a species of interest, in our view, will
create chaos and confusion.
The right or interest to occupy
any such flat is a species of property and hence has a stamp
of transferability and consequently we find no error with the
warrant of attachment issued by the DRT on the flat in
question.

REPORTABLE

IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. 7939 OF 2013

(Arising out of SLP(C) No.14563 of 2012)

Hill Properties Ltd.

... Appellant

Versus

Union Bank of India and others

Respondents

...

K.S. RADHAKRISHNAN, J.1