Page 30 - IC24 LEGAL ASPECTS OF LIFE ASSURANCE

a more nuanced rendering. Factors to consider include the nature

of the object, the relationship between the person and the object,

the relationship between a number of people in relation to the

object, and how the object is regarded within the prevailing

political system. Most broadly and concisely, property in the legal

sense refers to the rights of people in or over certain objects or

things

Actionable claim as the transfer of property act means that

claim to any debt, other than a debt secured by mortgage of

immovable property or by hypothecation or pledge of

movable property or to any beneficial interest in movable

property, not in possession, actual or constructive of the

claimant which the civil courts recognise as affording grounds

for relief, whether such debt or beneficial interest be existent,

accruing, conditional or contingent.

Section 58 of the Transfer of Property Act, 1882 defines