The Transfer of Property Act, 1882 (hereinafter referred to as the ‘T P Act, 1882’) was intended to define and amend the existing laws and not to introduce any new principle. It applies only to voluntary transfers. The following may be enumerated as the objectives of the Act:
➢ As per the preamble of the Act, the T P Act, 1882 is to amend or regulate the law relating to transfer of property by the acts of the parties.
➢ The Act provides a clear, systematic and uniform law for the transfer of immovable property.
➢ The Act completes the Code of Contract since it is an enacted law for transfers that take place in furtherance of a contract.
➢ With provision for inter-vivo transfers, the T P Act, 1882 provides a law parallel to the existing laws of testamentary and intestate transfers.
➢ The Act is not exhaustive and provides scope to apply the principles of Justice, Equity and Good Conscience if a particular case is not governed by any provision of law.