Which of the following statement is true with regard to Section 123 of the Transfer of Property Act ...........

Transfer of Property Act Transfer of Property

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Which of the following statement is true with regard to Section 123 of the Transfer of Property Act, 1882

It provides an exception to Section 17(1)(a) of the Registration Act

It is supplemental to Section 17(1)(a) of the Registration Act

It provides an exception to Section 17(I)(b) of the Registration Act

It is supplemental to Section 17(I) (b) of the Registration Act

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Explanation:

- Section 123 of the Transfer of Property Act, 1882, deals with the mode of transfer for gifts of immovable property.

- Option 1: "It provides an exception to Section 17(1)(a) of the Registration Act":

- Incorrect. Section 123 does not provide an exception; rather, it works alongside Section 17(1)(a). Both require registration for the transfer of immovable property by way of gift.

- Option 2: "It is supplemental to Section 17(1)(a) of the Registration Act":

- Correct. Section 123 supplements Section 17(1)(a) by laying down the specific mode of transfer for gifts, while Section 17(1)(a) mandates registration of such documents.

- Option 3: "It provides an exception to Section 17(I)(b) of the Registration Act":

- Incorrect. There is no exception provided in Section 123 for Section 17(1)(b), which relates to leases.

- Option 4: "It is supplemental to Section 17(I)(b) of the Registration Act":

- Incorrect. The subject matter is not about leases under Section 17(1)(b).

Correct Answer:

Option 2- It is supplemental to Section 17(1)(a) of the Registration Act.