Correct option is B
Section 12 of the Transfer of Property Act, 1882, relates to the condition where a transferee is restricted absolutely from parting with or disposing of his interest in the property. This section specifically states that the condition does not apply to a lease.
Explanation:
·
Section 12 of the Transfer of Property Act, 1882, states that where property is transferred subject to a condition or limitation absolutely restraining the transferee from parting with or disposing of his interest in the property, such condition or limitation is void, except in the case of a lease where the condition is for the benefit of the lessor or those claiming under him.
· Therefore,
Section 12 is
not applicable in cases where the transfer is by way of
lease because a lease can legally include a condition that restricts the lessee from transferring or subletting the leased property.
Information Booster:
·
Section 12 of the Transfer of Property Act plays an important role in protecting the transferee’s rights by ensuring that unreasonable restrictions cannot be imposed on the transfer of property. However, in the context of a lease, the law permits certain restrictions that are for the benefit of the lessor.
Additional Knowledge:
1.
Sale: In the case of a sale, Section 12 is applicable, meaning that an absolute restraint on the transfer of the property by the buyer would be void.
2.
Gift: For gifts, Section 12 also applies, meaning that an absolute restriction on the recipient's ability to transfer the gifted property would be void.
3.
Exchange: Similar to sale and gift, an absolute restraint on the property transferred by way of exchange is also void under Section 12.
