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Section 7: Persons competent to transfer
Every person competent to contract and entitled to transferable property, or authorised to dispose of transferable property not his own, is competent to transfer such property either wholly or in part and either absolutely or conditionally, in the circumstances, to the extent and in the manner, allowed and prescribed by any law for the time being in force.
Source: official text of The Transfer of Property Act, 1882 as published on India Code (PDF). All sections of the Transfer of Property Act, 1882.