Understanding the Dual Ownership Structure: a Study on Ostensible Owner and Benamidar

Vruddhula Dakshayani; G Niveditha

doi:10.36948/ijfmr.2023.v05i03.3997

Understanding the Dual Ownership Structure: a Study on Ostensible Owner and Benamidar

Author(s)	Vruddhula Dakshayani, G Niveditha
Country	India
Abstract	Ostensible owner and Benamidar are identical twins with their very own identity. Ostensible ownership and Benamidar transactions are two notions in Indian property law that entail concealed property ownership, although they have distinct legal ramifications. The article opens by describing Ostensible ownership and Benamidar transactions, as well as providing a historical backdrop for their development in Indian law. The legal concepts and legislation relating to each notion are addressed, including the theory of estoppel in the case of Ostensible ownership and the Benami Transactions (Prohibition) Act, 1988 in the case of Benamidar transactions. Ostensible ownership and Benamidar transactions' dual ownership structure brings out the intricate nature of property ownership and the governing legal principles. Ostensible ownership seeks to shield uninvolved parties, but under Indian law, Benami/ Benamidar transactions are strictly forbidden and frequently used for illegal activities. The primary distinction between the two conceptions is found in the transaction's intent. The idea of estoppel underpins Ostensible ownership, which protects innocent third parties who rely on the seeming ownership of a property. Benami/ Benamidar transactions, on the other hand, are prohibited under the Benami Transactions (Prohibition) Act of 1988. The paper explores not just the dual ownership structure of Ostensible ownership and Benamidar transactions as defined by Transfer of Property act, 1882, but also the underlying legal principles behind these two conceptions, as well as their parallels and differences.
Keywords	Ostensible Owner, Benamidar, Benami Transaction, Dual Ownership structure.
Field	Sociology > Administration / Law / Management
Published In	Volume 5, Issue 3, May-June 2023
Published On	2023-06-24
Cite This	Understanding the Dual Ownership Structure: a Study on Ostensible Owner and Benamidar - Vruddhula Dakshayani, G Niveditha - IJFMR Volume 5, Issue 3, May-June 2023. DOI 10.36948/ijfmr.2023.v05i03.3997
DOI	https://doi.org/10.36948/ijfmr.2023.v05i03.3997
Short DOI	https://doi.org/gsdk56

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Understanding the Dual Ownership Structure: a Study on Ostensible Owner and Benamidar

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