Section 54“Sale” defined

s. 54

54. “Sale” defined “Sale” is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised. [Sale how made] Such transfer, in the case of tangible immoveable property [* * *] or in the case of a reversion or other intangible thing, can be made only by a registered instrument. [* * *]. Delivery of tangible immoveable property takes place when the seller places the buyer, or such person as he directs, in possession of the property. [Contract for sale] A contract for the sale of immoveable property is a contract that a sale of such property shall take place on terms settled between the parities. It does not, of itself, create any interest in or charge on such property.

1. 12. The words and comma “of the value of one hundred Tk. and upwards,” were omitted by section 4 of the Transfer of Property (Amendment) Act, 2004 (Act No. XXVI of 2004).
2. 13. Third paragraph was omitted by section 4 of the Transfer of Property (Amendment) Act, 2004 (Act No. XXVI of 2004).