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Section 416
<br> owned by the person receiving the property
According to section 414, if a person transfers his property to another person, from the date of such transfer of property, his ownership in such property shall be terminated and the ownership shall remain in the name of the person receiving such property.
(2) Notwithstanding anything written in sub-section (1), if a person transfers property in such a way as to be entitled after his balance, the ownership shall remain in the name of the person who will receive the property only after his balance.
(3) If two or more persons receive the same property, the one who received the property shall be entitled to such property in the same proportion.
(4) If it is not mentioned in the document that a person will receive such a share while receiving the property, all the persons receiving the property shall be deemed to have received the property equally.