Law:

Section:

(a) Transfer of Property Act (IV of 1882)--S. 41---Transfer by ostensible owner---Benefit of S.41 of Transfer of Property Act, 1882---Applicability---Principles--Principle of transfer mentioned in S.41 of Transfer of Property Act, 1882, is based on principle of natural justice and equity which must be universally applicable---Where one man allows another to hold himself out as the owner of an estate and the third person purchases it for value from the apparent owner in the belief that he is the real owner, the man who so allows the other to hold himself out as such cannot be permitted to recourse to his secret title unless he can overthrow that of the purchaser by showing either that he had direct notice, or something which amounts to constructive notice of the real title or that there existed circumstances which ought ,to have put him upon inquiry that if prosecuted would have led to a discovery of the same as such the principle under S.41 of Transfer of Property Act, 1882, is a statutory application of the law of estoppel. Khair Din and another v. Mst. Zenab Bibi and 2 others PLD 1973 Lah. 586 ref. (b) Transfer of Property Act (IV of 1882)---- ----S. 41---Protection under S.41 of Transfer of Property Act, 1882---Applicability---Necessary ingredients detailed. Following are the necessary ingredients for protection under section 41, Transfer of Property Act, 1882:-- (a) The transferor is the ostensible owner; (b) he is so by the consent, express or implied, of the real owner; (c) the transfer is for consideration; and (d) the transferee has acted in good faith, taking reasonable care to ascertain that the transferor had power to transfer. Khair Din and another v. Mst. Zenab Bibi and 2 others PLD 1973 Lah. 586 ref. (c) Civil Procedure Code (V of 1908)----- ----O.XXI, R.58---Transfer of Property Act (IV of 1882), S.41---Execution of decree---Transfer by ostensible owner--¬Protection of S.41 of Transfer of Property Act, 1882--¬Applicability---Original title documents not with the objector---Non-existence of necessary ingredients required for protection under S.41 of Transfer of Property Act, 1882--¬In execution of ex parte decree passed by Banking Court in favour…

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