(1)The interest of an occupancy tenant, that is to say, of an occupation jotedar or an occupancy raiyat, in his holding, or a portion or share thereof, shall subject to the provisions of this Act, be capable of being transferred in the same manner and to the same extent as other immovable property.(2)When the interest of an occupancy tenant in his holding, or a portion or share thereof, is transferred otherwise than at the stance of the sole landlords or of the entire body of landlord or in execution of a decree under the provisions of Section 139, the transferee shall be deemed to hold the land, transferred on behalf of the landlord of such land, and the landlord shall be entitled to the entire profits arising from the holding or portion or share thereof, until the transferee has served in the prescribed form and manner, notice on the landlord giving the particulars of the transfer and paid or tendered to him a fee, hereinafter called the occupancy transfer fee':Provided that when the notice is served and the 'occupancy transfer fee' paid or tendered within two months of the date of the transfer, or of taking possession of the land by the transferee, whichever is later, the landlord shall have no right to any profit arising from the land except the rent payable for the holding in accordance with the provisions of this Act.(3)The provisions of sub-Section (2) shall not apply to-(i)Successions by inheritance ;(ii)Divisions of tenancies in accordance with the provisions of Sections 16 and 17.(iii)Leases executed in accordance with the provisions of this Act ;(iv)Complete usufructuary mortgages as defined in Section 25 ;(v)Simple mortgage or mortgages by conditional sale, until a final decree for sale or foreclosure is made.
