Under Section 7 of the Transfer of Property Act, 1882, the person who is competent to transfer property must satisfy two main conditions:

The transferor must be of the age of majority according to the law to which he is subject. In India, this means the person must be at least 18 years old, as per the Indian Majority Act, 1875.

The transferor must be of sound mind at the time of making the transfer. This means the person should have the mental capacity to understand the nature and consequences of the transaction.

However, even if the person satisfies these conditions, they must also have the right to transfer the property in question. For example, a person cannot transfer property that does not belong to them or that they are not authorized to transfer.

Hence, to be competent to transfer property under Section 7, a person must be a major, of sound mind, and legally entitled to transfer the property. If any of these conditions is not met, the transfer may be declared void or voidable.