The Transfer of Property Act, 1882 makes provision for Oral transfer in cases, where writing is not expressly required by law for the purpose of transfer of property. The Act lays down that a transfer of property may be made without writing in every case in which a writing is not expressly required by law. An instrument of transfer is required to be in writing in the following cases:
Transfer of immovable property for a value of Rs.100 and above;
An interest in an estate that reverts to the grantor or his heirs at the end of some period or other intangible thing;
Simple mortgage irrespective of the amount of security;
All other kinds of mortgages where amount secured is Rs.100 or above.
Leases of immoveable property from year to year, or for any term exceeding one year, or reserving a yearly rent;
Exchange (where two persons mutually transfer the ownership for the ownership of another);
Gift of immovable property; and
Transfer of actionable claim, that is, claim to any unsecured debt or any interest in any immovable property which is not in the possession of the claimant.
