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Report No. 178

4. Amendment of section 58 of the Transfer of Property Act, 1882 (4 of 1882.-

In section 58 of the Transfer of Property Act, 1882, in clause (c) after the proviso the following proviso shall be inserted, namely:-

"Provided further that where the condition is embodied in a document other than the one which effects or purports to effect the sale, the concession granted in favour of the seller by the purchaser for obtaining a re-conveyance of the property, shall be deemed to have not lapsed on account of non performance of the condition by the date stipulated, and if the seller pays to the buyer or deposits in a court, the consideration referred to in the sale-deed within three years of the date stipulated in the condition, together with interest at twelve percent. computed from the said date up to the date of payment or deposit, as the case may be, he shall be entitled to re-conveyance of the property."



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