Under Section 53 of the Transfer of Property Act 1882 every transfer of immovable property made with...........

Transfer of Property Act Transfer of Property

Under Section 53 of the Transfer, of Property Act, 1882, every transfer of immovable property made with the intent to defeat or delay the creditors of the transferor is:

Voidable at the option of any creditor of the transferor.

Void and hence transfer of property is inoperative

Voidable at the option of any creditor so defeated and delayed.

Void if made in favour of any person without consideration

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Explanation:

Voidable at the option of any creditor of the transferor.

According to section 53. Fraudulent transfer

(1) Every transfer of immovable property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed.

Nothing in this sub-section shall impair the rights of a transferee in good faith and for consideration.

Nothing in this sub-section shall affect any law for the time being in force relating to insolvency.

A suit instituted by a creditor (which term includes a decree-holder whether he has or has not applied for execution of his decree) to avoid a transfer on the ground that it has been made with intent to defeat or delay the creditors of the transferor shall be instituted on behalf of, or for the benefit of, all the creditors.