Section 46 of TPA : Section 46: Transfer For Consideration By Persons Having Distinct Interests

Explanation using Example

Imagine three friends, Ravi, Priya, and Anil, who jointly purchased a piece of land. Ravi contributed 50% of the purchase price, Priya contributed 30%, and Anil contributed 20%. In the absence of any agreement stating otherwise, if they decide to sell the land for a total of $100,000, they would be entitled to share the proceeds in proportion to their initial contributions. Therefore, Ravi would receive $50,000, Priya would get $30,000, and Anil would be entitled to $20,000 from the sale.