INTRODUCTION

The Transfer of Property Act deals with two kinds of interest vested interestandcontingent
interest. Vested interest is to be distinguished from contingent interest.When an interest is vested,
the transfer is complete but when the interest is contingent,the transfer depends upon a condition
precedent. When the condition is fulfilled thetransfer takes effect and that the interest becomes
vested.

I.TITLE IN THE PROPERTY

The term Title is derived from the term Titlus of Roman law and Titre of renchlaw. According
to !almond, title is the fifth element of legal right. "very legal righthas a title, that is to say,
certain facts or events by reason of which the right has become vested in the owner. However,
Holland does not include title as an element of a legal right. Austin does not approve of the use
of title for right. His contention is thattitle is not the right itself but merely an element of right.
While title indicates the ideaof an investitive fact, right is a power faculty or capacity conferred
on a person and isfounded in the title. The party entitle is invested with right by the investive
fact.%egal rights are created by title. A person has a right to a thing because he has atitle to that
thing.

According to Justice Holmes,"veryrightisconse'uence

attached by the law to one or more facts which the law defines and wherever the law givesanyon
e special right, not shared by the body of the people, it does so on the groundthat certain special
facts not true of the rest of the world are true to him. (t is thesespecial facts that create a title.
Title means any fact which creates a right or duty. (f alaw confers a right upon one man which it
does not confer upon another, the reason is that certain facts are true of him who are not true of
the other and these facts are the title of the right. A person may acquire right on account of his
birth or he may acquire.

the same by personal efforts later on but in both cases title is essential. Title is the rootfrom
which the rights proceed.

Holland does not approve of the use of the term title as it does not indicate the facts which
transfer or extinguish rights. A fact giving rise to a right has long been described as a title, but no
such well-worn equivalent can be found for a fact through,which a right is transferred or for one
by which a right is extinguished. Bentham also objects to the use of the term title and suggests
the term dispositive facts. He divides the dispositive facts into three parts- investitive facts,
divestitive facts and translativefacts. He re-divides the investitive facts into collative facts and
impositive facts.

The main rights in the title bundle are usually-

(1) Exclusive possession

(2) Exclusive use and enclosure
(3) Acquisition
(4) Conveyance, including by bequest
(5) Access easement
(6) Hypothecation
(7) Partition

The rights in real property may be separated further, examples including-

Water rights, including riparian rights and runoff rights. appropriation water rights

Easement to neighboring property, for utility lines, etc.

Mineral rights

Easement to neighboring property, for utility lines, etc.

Tenancy or tenure in improvements

Timber rights