Transfer for consideration by persons having
distinct interests.- Where immovable
property is transferred for consideration by
persons having distinct interests therein, the
transferors are, in the absence of a contract
to the contrary, entitled to share in the consideration
equally, where their interests in the property
were of equal value, and, where such interests
were of unequal value, proportionately to the
value of their respective interests.
(a) A, owning a moiety, and
B and C, each a quarter share, of mauza Sultanpur,
exchange an eighth share of that mauza for a
quarter share of mauza Lalpura. There being
no agreement to the contrary, A is entitled
to an eighth share in Lalpura, and B and C each
to a sixteenth share in the mauza.
(b) A, being entitled to a
life-interest in mauza Atrali and B and C to
the reversion, sell the mauza for Rs. 1,000.
A's life-interest is ascertained to be worth
Rs. 600, the reversion Rs. 400. A is entitled
to receive Rs. 600 out of the purchase-money,
B and C to receive Rs. 400.