In the absence of a contract or local usage to the contrary, all rents annuities, pensions, dividends and other periodical payments in the nature of income shall, upon the transfer of the interest of the person entitled to receive such payments, be deemed, as between the transferor and the transferee, to accrue due from day to day, and to be apportionable accordingly, but to be payable on the days appointed for the payment thereof.
CHAPTER II OF TRANSFERS OF PROPERTY BY ACT OF PARTIES · Apportionment
Section 36: Apportionment of periodical payments determination of interest of person entitled
The Transfer of Property Act, 1882
Questions on this section
2 questions in 10 of our papers cite Section 36. Try these from the free papers:
1. Under Section 36 of the Transfer of Property Act, 1882, in the absence of a contract or local usage to the contrary, rents, annuities and other periodical payments in the nature of income are, on transfer of the interest of the person entitled to them, deemed as between transferor and transferee to: