Transfer of Property Act, 1882 · Chapter II: Of Transfers of Property by Act of Parties · Apportionment
Section 36: Apportionment of periodical payments on determination of interest of person entitled
In plain words
Unless a contract or local usage says otherwise, rents, annuities, pensions, dividends and other periodic income are treated as earned day by day and are split accordingly between the transferor and transferee, though payable on the usual due dates.
A simplified explanation, prepared with AI assistance from the official text below and checked automatically against it for numbers and cross-references. The official text is the law and prevails over this summary. Not legal advice.
Official text
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 apportion able accordingly, but to be payable on the days appointed for the payment thereof.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.