law: Transfer of Property Act, 1882
  35. Election when necessary
  Where a person professes to transfer property which he has no
  
  right to transfer, and as part of the same transaction confers any benefit on
  
  the owner of the property, such owner must elect either to confirm such
  
  transfer or to dissent from it; and in the latter case he shall relinquish the
  
  benefit so conferred, and the benefit so relinquished shall revert to the
  
  transferor or his representative as if it had not been disposed of, subject
  
  nevertheless,
  where the transfer is gratuitous, and the transferor has, before
  
  the election, died or otherwise become incapable of making a fresh transfer,
  
  and in all cases where the transfer is for consideration, to the charge of
  
  making good to the disappointed transferee the amount or value of the property
  
  attempted to be transferred to him.
  Illustrations 
  The farm of Sultanpur is the property of C and worth Rs. 800. A
  
  by an instrument of gift professes to transfer it to B, giving by the same
  
  instrument Rs. 1,000 to C. C elects to retain the farm. He forfeits the gift of
  
  Rs. 1,000. In the same case, A dies before the election. His representative
  
  must out of the Rs. 1,000 pay Rs. 800 to B.
  The rule in the first paragraph of this section applies whether
  
  the transferor does or does not believe that which he professes to transfer to
  
  be his own.
  A person taking no benefit directly under a transaction, but
  
  deriving a benefit under it indirectly, need not elect.
  A person who in his own capacity takes a benefit under the
  
  transaction may in another dissent there from.
  Exception to the last preceding four rules : Where a particular
  
  benefit is expressed to be conferred on the owner of the property which the
  
  transferor professes to transfer, and such benefit is expressed to be in lieu
  
  of that property, if such owner claims the property, he must relinquish the
  
  particular benefit, but he is not bound to relinquish any other benefit
  
  conferred upon him by the same transaction.
  Acceptance of the benefit by the person on whom it is conferred
  
  constitutes an election by him to confirm the transfer, if he is aware of his
  
  duty to elect and of those circumstances which would influence the judgment of
  
  a reasonable man in making an election, or if he waives enquiry into the
  
  circumstances.
  Such knowledge or waiver shall, in the absence of evidence to
  
  the contrary, be presumed, if the person on whom the benefit has been conferred
  
  has enjoyed it for two years without doing any act to express dissent.
  Such knowledge or waiver may be inferred from any act of his
  
  which renders it impossible to place the persons interested in the property
  
  professed to be transferred in the same condition as if such act had not been
  
  done.
  Illustration
  A transfers to B an estate to which C is entitled, and as part
  
  of the same transaction gives C a coal-mine. C takes possession of the mine and
  
  exhausts it. He has thereby confirmed the transfer of the estate to B.
  If he does not within one year after the date of the transfer
  
  signify to the transferor or his representatives his intention to confirm or to
  
  dissent from the transfer, the transferor or his representative may, upon the
  
  expiration of that period, require him to make his election; and, if he does
  
  not comply with such requisition within a reasonable time after he has received
  
  it, he shall be deemed to have elected to confirm the transfer.
  In case of disability, the election shall be postponed until the
  
  disability ceases, or until the election is made by some competent authority.