(1) Whenever the title to or over any building or land of any person primarily liable for the payment of property tax on such property is transferred, the transferee and the transferor shall within three months, of the registration of the deed of transfer if it be registered, or of its execution if it be not registered, or of the actual transfer if no instrument is executed, give notice in writing of such transfer to the municipality.
(2) If a person who is primarily liable for the payment of a tax on any property transfers his title on, or over, such property, and fails to give notice of such transfer to the municipality as aforesaid, he shall, in addition to any other liability which he incurs through such neglect, continue to be liable for payment of all such taxes from time to time payable in respect of the said property until he gives such notice or until the transfer is recorded in the books of the municipality.
(3) Whenever the title on or over any building or land has devolved upon any person by inheritance, the heir shall, within three months of the date of the death of the former owner, give notice in writing of such inheritance to the municipality.
(4) Nothing in this section shall diminish the liability of the transferee or heir for the said taxes or to affect the prior claim of the municipality for the recovery of the taxes due thereupon.
(5) Whoever contravenes the provisions of sub-sections (I) or (3) shall, in addition to any other penalty which he incurs through such neglect, be punishable with a fine which shall not be less than one thousand rupees and not more than five thousand rupees, and in the case of a continuing breach, with a further fine of one hundred rupees for every day after the first conviction till the breach continues.