Section 25 — Interpretation

For the purposes of sections 20 to 24, the “owner” in relation to a property
or any part thereof shall include—
( a) an individual who transfers without adequate consideration, any property
to the spouse (except under an agreement to live apart), or to a minor
child (other than a married daughter);
( b) the holder of an impartible estate, and he shall be deemed to be an
individual owner in respect of all the properties comprised in the estate;
( c) a member of a co-operative society, company or other association of
persons to whom a building or part thereof is allotted or leased under a
house building scheme of the society, company or association;
( d) a person who is allowed to take or retain possession of any building or
part thereof in part performance of a contract of the nature referred to
in section 53A of the Transfer of Property Act, 1882 (4 of 1882);
( e) a person who acquires any rights (excluding any rights by way of a lease
from month to month or for a period not exceeding one year) in or with
respect to any building or its part—
( i) by virtue of transfer of such property by way of sale or exchange or
original or extendible lease for a term of not less than twelve years;
or
( ii) accruing or arising from any transaction (whether by way of
becoming a member of, or acquiring shares in, a co-operative
society, company or other association of persons or by way of any
agreement or any arrangement of whatever nature), not being a
transaction by way of sale, exchange or lease which has the effect
of enabling the enjoyment of such property.
D.—Profits and gains of business or profession