Transfer of Property Act Section 45 — Joint transfer for consideration

CHAPTER I PRELIMINARY

General

Summary

When two or more people together buy a piece of property, their ownership shares depend on where the money came from. If they paid from a shared fund, each person’s share in the property matches their share in that fund. If they paid from separate personal funds, each person’s share matches the amount they personally contributed. If there is no evidence of these amounts, the law assumes they each own an equal share. This rule applies only if they did not make a different agreement among themselves.

Official Text

Where immoveable property is transferred for consideration to two or more persons and such consideration is paid out of a fund belonging to them in common, they are, in the absence of a contract to the contrary, respectively entitled to interests in such property identical, as nearly as may be, with the interests to which they were respectively entitled in the fund; and, where such consideration is paid out of separate funds belonging to them respectively, they are, in the absence of a contract to the contrary, respectively entitled to interests in such property in proportion to the shares of the consideration which they respectively advanced. In the absence of evidence as to the interests in the fund to which they were respectively entitled, or as to the shares which they respectively advanced, such persons shall be presumed to be equally interested in the property.