Section 36 of TPA : Section 36: Apportionment Of Periodical Payments On Determination Of Interest Of Person Entitled

Explanation using Example

Imagine Jane owns a property that generates a monthly rental income of $1000, paid on the first of each month. On June 15th, Jane sells the property to Bob. According to Section 36 of the Transfer of Property Act, 1882, the rent for June should be apportioned between Jane and Bob. Jane would be entitled to the rent for the first 14 days of June, while Bob would be entitled to the rent for the remaining 16 days of the month, despite the rent typically being paid in full on the first. Therefore, of the $1000 rent for June, Jane would receive $466.67 (14/30 of the monthly rent), and Bob would receive $533.33 (16/30 of the monthly rent), assuming no other agreement or local custom dictates otherwise.