Mera Samvidhaan All of Transfer of Property Act, 1882

Chapter II · Of Transfers of Property by Act of Parties

49Transferee’s right under policy.

Section 49 · Chapter II · (B) Transfer of Immovable property · page 18 of the Act

Where immoveable property is transferred for consideration, and such property or any part thereof is at the date of the transfer insured against loss or damage by fire, the transferee, in case of such loss or damage, may, in the absence of a contract to the contrary, require any money which the transferor actually receives under the policy, or so much thereof as may be necessary, to be applied in reinstating the property.

Section 49 of The Transfer of Property Act, 1882 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.