Living person conveys Property

“Transfer of Property” means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, or it himself and one or more other living persons; and “to transfer property” is to perform such act.

in this section “living person” includes a company or association or body of individuals, whether incorporated or not, but nothing herein contained shall affect any law for the time being in force relating to transfer of property to or by companies, associations or bodies of individuals.
Persons competent to transfer.—Every person competent to contract and entitled to transferable property, or authorised to dispose of transferable property not his own, is competent to transfer such property either wholly or in part and either absolutely or conditionally, in the circumstances, to the extent and in the manner, allowed and prescribed by any law for the time being in force.