Section 49
Transferee's right under policy.
The Transfer of Property Act, 1882
About this Act
An Act to amend the law relating to the Transfer of Property by act of Parties.
Where immoveable property is transferred for consideration,
and such property or any part thereof is at the date of the transfer insured against loss or damage by fire,
the transferee, in case of such loss or damage, may, in the absence of a contract to the contrary, require
any money which the transferor actually receives under the policy, or so much thereof as may be
necessary, to be applied in reinstating the property.