Section 414: Property may be transferred

1) Any person, other than a person who is not competent to make a contract pursuant to this Act or laws in force, may, subject to this Act, transfer a property in which he or she has right and ownership to one or more persons jointly or severally.

2) The competency or incompetency referred to in sub-section (1) shall be determined on the basis of whether he or she was competent or incompetent at the time of the transfer of property by him or her.

3) A person may, pursuant to sub-section (1), transfer a property in which he or she has right and ownership to another person with immediate or testamentary effect.

4) In transferring a property pursuant to this Section, a deed shall be executed in fulfillment of the legal requirements.

Provided that:

(1) It is not required to execute a deed to donate or gift any movable property or cash amounting to one hundred thousand rupees.

(2) Sale or otherwise transfer of a movable property shall be made in accordance with the laws in force.