Under the provisions of section 7 of the Transfer of Property Act, 1882, the competent person to transfer means:
1. Every person competent to contract only;
2. Every person entitled to transferable property or authorised to dispose of transferable property.

A. Only (1) is correct

B. Both (1) and (2) are correct

C. (2) is correct

D. Neither is correct

Answer: Option B