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  • Transfer for consideration by persons having distinct interests


    : Transfer for consideration by persons having distinct interests

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  • About :: Where immoveable property is transferred for consideration by persons having distinct interests therein, the transferors are, in the absence of a contract to the contrary, entitled to share in the consideration equally, where their interests in the property we e of equal value, and, where such interests were of unequal value, proportionately to the value of their respective interests. Illustration (a) A, owing a moiety, and B and C, each a quarter share, of mauzaSultanpur, exchange an eighth share of that mauza for a quarter share of mauzaLalpura. There being no agreement to the contrary, A is entitled to an eighth share in Lalpura, and B and C each to a sixteenth share in that mauza. (b) A, being entitled to a life-interest in mauzaAtrali and B and C to the reversion, sell the mauza for Rs. 1,000. A's life- interest is ascertained to be worth Rs. 600, the reversion Rs. 400. A is entitled to receive Rs. 600 out of the purchase-money. B and C to receive Rs. 4000. Illustrations (a) a Cowinga moiety, and B an