law: The Warehousing (Development and Regulation) Act, 2007
  20. Transfer of
  
  non-negotiable receipts. -
  1.  A
  
  non-negotiable warehouse receipt may be transferred by the holder by delivery
  
  to a purchaser or donee of the goods in writing executed by the holder.
  2.  A
  
  person to whom the goods covered by a non-negotiable warehouse receipt is
  
  transferred acquires-(a) the title of the transferor to the goods; and (b) the
  
  right to deposit with the warehouseman the receipt or duplicate thereof or to
  
  give notice in writing to the warehouseman of the transfer.
  3.  The
  
  transferee shall acquire the benefit of the obligation of the warehouseman to
  
  hold goods in storage for him according to the terms of the receipt upon
  
  deposit of the transfer of the goods and on giving notice in writing of the
  
  transfer and upon the warehouseman having a reasonable opportunity of verifying
  
  the transfer.