An Article about "SALE OF IMMOVABLE PROPERTY BY PERSONS OTHER THAN OWNERS"

SALE OF IMMOVABLE PROPERTY BY PERSONS OTHER THAN OWNERS

There are various modes of transferring the immovable property, but most frequently used mode is sale. Every sale or purchase of property has to conform to certain legal requirements. The Indian Contract Act 1862 and Transfer of Property Act 1882 are two important Acts. The word seller, vendor, purchaser, vendee are used to describe the parties. In general, the word transferor is used to refer to the owner of the property or his authorized representatives. The word transferee means the purchaser.

Essentials of valid contract

An agreement for sale is a contract. It has to comply with the stipulations of Indian Contract Act. The Act stipulates that the contract has to be made between parties who are competent to contract. The competent parties are the persons who have attained the age of majority. The persons who have completed age of 18 years are majors. Apart from attaining majority, the parties should be of sound mind and not disqualified by provisions of any law in force for the time being, like insolvency Act etc. Though the parties are major and of sound mind, if they are disqualified under provisions of any law in force, they are not competent to contract.

The parties to contract should agree to the terms of contract with free consent. Consent means, agreement of the parties upon the same thing in the same sense. Consent is said to be free, when it is not caused by compulsion, force, undue influence, coercion, fraud, misrepresentation or mistake. If the consent is not free the contractor is not void but voidable. The contract is said to be voidable, if the parties to the contract have an option to cancel the contract or to abide by it. Contract is void, if it is not enforceable by the parties as per the provisions of law. In case of void contract, the parties have no option, as the law treats such contracts as void.

If the sale of immovable property is not out of free consent, the seller has an option to treat the sale as valid, or invalid, and the title of the purchaser is subject to the option exercised by the seller. Other important ingredients of valid contracts are, the lawful consideration and for lawful object. In case the transfer of immovable property is made for illegal consideration and for illegal object, the transfer is void, that is law treats such transfers as illegal and parties have no option. The transferee does not get any legally valid title over the property. Sections 10 and 11 of Indian Contract Act deal with the above aspects.

Essentials of valid transfer

The Transfer of Property Act 1882 has prescribed certain conditions for legally valid transfer under section 5. The conditions are that, both the parties must be living; the transfer may be either in present or future. The word living persons means legal persons, which includes a company, association and body of individuals. A minor cannot transfer any property, but he can be transferee, he may purchase, receive the property, through his guardian.

Transfer by persons other than owner

Apart from the above requirements of valid contract and valid transfer, the most important is the title of the transferor to the property. The transferor should have legally marketable title over the property. A person having a defective or no title to the property cannot pass on a better title to the purchaser than what he has, and the purchaser will acquire defective or no title.

There are certain exceptions to this, which are dealt in Transfer of Property Act. They are transfer by:

a)  Ostensible owner.
b) Unauthorized person who subsequently acquires valid title.
c) The person authorized under certain circumstances only.

We shall discuss each of the above.

1. Ostensible owner

Section 41 of the Act deals with the transfer of immovable property by ostensible owner. The word ‘ostensible’ is described in the dictionary as apparent, stated or claimed but not necessarily true. In simple words, “appears like to be an owner but not truly an owner”. But the Act differentiates between a person who poses as owner to defraud the purchaser and a person who act as owner with the free consent of the owner. If some person acts as an owner of some immovable property with the consent of the real owner any transfer by such ostensible owner is valid. The consent by the real owner may be expressed in writing or may be implied; where the action of real owner makes the purchaser to believe that the ostensible owner has his consent. The other requirement are that the transfer is for consideration and the purchaser has exercised reasonable care to ascertain that the ostensible owner has power to transfer the property and has acted in good faith. Reasonable care means the care that a man of average intelligence takes without negligence.

In some cases, if the ostensible owner is in possession of the property and he also produces the title deeds, then the transferee cannot be expected to make any searing enquiry in the absence of any ground for suspicion that the transferor may not be the real owner. The standard and nature of enquiry by the transferee shall therefore vary according to the circumstances of each case.

To understand the extent of care required to be taken by the transferee, it will be useful to refer to the case of Khwaja Muhammad Khan V/s. Muhammad Ibrahim (ILR 26 ALL, 490) wherein it has been observed  “It is manifest that the transferee need not make a very detailed enquiry in order that he may be said to have taken reasonable care unless there are some circumstances or clue which should lead him as an ordinary man of business to make a full enquiry so as to satisfy himself with a reasonable amount of certainty that his transferor is entitled to make the transfer”.

The transferee must act in good faith. The General Clauses Act defines “good faith” as 'A thing shall be deemed to be done in good faith where it is in fact done honestly whether it is done negligently or not. The Limitation Act prescribes higher standard as it defines good faith as “nothing is seemed to be done in good faith, which is not done with due care and attention.

2. Transfer by unauthorized per- son, who subsequently acquires interest in property transferred

This is slightly a different situation from a transfer by ostensible owner. Here the transferor is not ostensible owner, does not have consent of the owner to act as owner. The transferor fraudulently or erroneously represents that he is authorized to transfer the property. But, subsequent to such transfer, the transferor gets valid title. Such transfer is also valid. The relevant Sec. 43 of the Transfer of Property Act 1882 stipulates certain conditions.

a) The transferor erroneously / fraudulently represents that he is authorized to transfer the immovable property.
b) The transfer is for consideration.
c) The transferee has not rescinded the contract, opts for transfer.
d) There are no other transferees for consideration, who have acted in good faith and not aware of existence of such option / transfer.
e) The transferor subsequently acquires title in the immovable property transferred during subsistence of the contract.

The Act has given various remedies to the purchaser; he may cancel the contract, and elect to ask for damages or get the property transferred to him. The important thing is that the transferor, who was unathorised to transfer the property, acquires the title in same property transferred subsequently. If the transferor does not get any title during the subsistence of contract, the section does not apply.

Example : 'A' transfers property to 'B' by falsely representing that he is owner of property. Later 'A' acquires that property, then 'B' has right to take the property as transferee without further act on the part of the transferor.

3. Transfer by persons having limited powers

Various laws have prescribed limited rights to certain individuals to transfer the property, though they are not owners. Such transfers have to be done only under special circumstances enunciated in the respective laws. Section 38 deals with this situation. Some of such persons are
- The Kartha of a mitakshara family
- Executor
- a mortgagee
- a guardian of minor's property

These persons have the power to sell only under compelling circumstances and to sell legal necessities. If these persons as transferors allege the existence of such circumstances and the transferee has made an inquiry and after using reasonable care has acted in good faith, then transferee will get a good title over the property.

In case of sale of minor's property by his natural or legal guardian there should be a legal necessity for the transfer and the court’s permission is necessary for such sale. The burden in all such cases is laid on the transferee to justify the transfer in his favour. The reason for this rule is that, no transferee of immovable property can safely take transfer of such property without enquiring in to the title of the person who is his proposed transferor. If the latter's title is perfect, then the question of enquiry becomes immaterial. But if it was dependent upon variable circumstances, then the transferee must justify his transfer.

In case of wife and children of transferor has right to maintenance over the transferred property, then such wife and children are entitled to enforce right to maintenance against such transferee on the transferred property, u/s 39 of Transfer of Property Act. But this right is not exercisable against transferee for consideration and in cases where transferee does not have notice of such right.

Section 39 of Transfer of Property Act provides that a person shall not transfer the immovable property without the concurrence of wife and children who have a right to receive maintenance or a provision for advancement or marriage for the profits of immovable property. In case such property is transferred without concurrence it is not that transferee will not get a title, he will get a title but he is liable to give maintenance, from the profits of immovable property, which he acquired to settle all other claims if he has notice of such rights or claims.

Property Advocates in Bangalore

An Article about "PARAMETERS FOR getting a perfect PROPERTY"

PARAMETERS FOR getting a perfect PROPERTY

Every person would want to possess a house, whether or not spacious or alittle house in line with his or her monetary standing. someone wishes to possess a house since it's not solely a concrete structure however additionally involves part of emotional bonding towards a similar.

Nevertheless, it's challenging to either purchase a replacement house / apartment or to construct on the plot. If a want of a person is to shop for an flat, then it's necessary to spot the correct location and a supposed builder and if the will is to construct a house, then a reliable and right person, is extremely necessary.

Selection of a location

Before getting any property, a lot of impetus ought to get on the situation since it plays a predominate role in the majority aspects of the real estate. However, the method of distinguishing the situation for owning any property depends upon the aim that such person intends to take a position, that might be either for residential or industrial, since the priorities differs in line with the aim that the property is meant to be purchased.

The following ar a number of the rules needed to be thought of whereas selecting the fascinating location ar mentioned below:

The first and foremost issue that ought to be kept in mind at the time of distinguishing the property is that the property meant to be purchased mustn't be set at intervals the section of city district or place of worship or in shut proximity to a drain line. it's higher if the situation is inhabited with people having various culture with cosmopolitan outlook and free from anti-social components and anti-social activities.

If the person desires to own a house or a flat for his own occupation, it's advisable  to like a strictly district than an ad one.

It is forever appreciated to pick purchase of an apartment designed on a Layout approved by the competent authority, since it might guarantee higher amenities to such occupants.

It is additionally vital that such layout ought to additionally comprise of well-laid roads with smart sewerage system, beside regular garbage clearance.

It is advisable  to avoid owning a house within the low-lying areas since such property typically runs beneath the danger of inundation of water throughout significant monsoon.

Care ought to even be taken to confirm that the situation isn't terribly removed from the work place, Market place, academic establishments, hospitals, Bus stand, railroad station or alternative basic and vital destinations.

Apart from the higher than, it's additionally necessary banking facility, ATM’s, public conveyance, public telephone booths, web Centers et al. are not terribly removed from the property.

Last, however not the smallest amount that the situation should even be free any reasonably pollution or congestion.

Needless to mention, the realm ought to have smart and regular offer of water, power and just in case of bore-wells, then smart ground water table is additionally necessary.

Property Advocates in Bangalore

An Article about "POSITION OF INSOLVENT'S PROPERTY"

POSITION OF INSOLVENT'S PROPERTY

 

The term "Insolvent", in common parlance is referred as pauper or Bankrupt. an insolvent isn't thought-about a legal person for the aim of enforcement of any obligation committed by him either throughout the pendency of financial condition proceedings or once he's adjudged as insolvent.

Adjudication of an Insolvent

In India, jurisdiction of the courts to adjudicate someone as an insolvent has been presented by 2 Acts, namely, the Presidency towns Insolvency Act, 1909, that is applicable within the Presidency cities in Bharat and the Provincial financial condition Act, 1920, applicable within the muffusil areas.

To adjudicate someone as an Insolvent, such someone has got to be a "Debtor" and will have committed an act of financial condition. A debtor,under these Acts, includes solely those United Nations agency area unit subjected to Indian laws, either by birth or by domicile together with a brief residence. Thus, a foreigner can't be adjudged insolvent by a court in india unless the alleged act of financial condition was committed or suffered by that person throughout his personalresidence in India.

Minor cannot be adjudged Insolvent

Under Indian Laws, as a minor is not competent to enter into a contract he cannot be adjudged Insolvent even on his own petition. within the case of a minor being a partner in an exceedingly firm consisting of adult and minor partners and if judgement order is wanted against the firm, constant shall be binding on the firm/partners except the minor.

Property of insolvent

The expression "Property of an Insolvent", has been defined as only the property of the insolvent which is divisible amongst the creditors and not otherwise. It includes any property over that or over the profits of that anyone has the ability of alienation which might be exercised for his own profit.

The word 'property' includes the proper within the property orthings of someone. However, to represent the property, an insolvent should have an interest in praesenti to eliminate constant and not such an interest which can rely on the fulfillment of certain conditions or contingencies.

Appointment of Official party or Receiver

Under section seventeen of the Presidency city financial condition Act or section 28(2) of Provincial financial condition Act, 1920, once the order of judgement, theproperty of an insolvent vests within the Official Assignee and becomes divisible amongst the creditors, no matter its state of affairs. However, once an order of judgement has been passed beneath the Presidency city financial condition Act,1909, any order of judgement passed against constant insolvent by the District Court of another place, at a later date beneath Provincial financial condition Act can not operate since the aforesaid property is already unconditional in the Official party beneath the Presidency city financial condition Act.

Movable and immobile property

The order of adjudication operates as a statutory transfer to the Official Assignee of all the property of the insolvent person in India, whether or not movable or immobile. Similarly, the immobile property of an insolvent located in foreign country shall vest with the Official party or Receiver. But, the immovable property of an insolvent situated in an exceedingly foreign country, shall be ruled by the law of the country at intervals whose jurisdiction such property issituated.

Divisible and indivisible  Properties

The property that is divisible  amongst the creditors of the insolvent will solely vest with the Official party or the Receiver, which can be:

Propertybelonging to an insolvent at the time of commencement of insolvency proceedings.

Property which can be noninheritable  by or depend upon the insolvent once the order of judgement and before his discharge.

 product in possession, or disposition of the insolvent.

The properties which are not divisible amongst the creditors of the insolvent falls into two classes

(a). Property command by the insolvent in trust for any otherperson and
(b ). Tools of trade, attire and different similar property.

Vesting of property within the Official Receiver or party

Immediately upon an order of judgement by the Court, the property of the insolvent where located vests within the official assignee/receiver. until a politician Receiver is appointed by the Court, all the rights and powers exercisable by the Receiver will be exercised by the Court itself.

Intervention of Official party is should

The right and interest of an insolvent over the property don't automatically get transferred in favour of the Official Receiver upon passing of an adjudication order by the court unless the Official Assignee interveneson behalf of the insolvent.

Where the official party doesn't intervene and therefore the insolvent transfers the aforesaid property to a different one that takes it in honesty and for worth, the transferee acquires a smart title to the property.

Powers of the Official Receiver or Assignee

With the order of judgement, the property of the insolvent vests within the Official party or the receiver and it's the duty of the party to comprehend such properties of the insolvent efficiently and to distribute dividends to the creditors entitled to it. However, before elbow grease the ability of realization of properties of an insolvent, well endowed caution has got to be exercised by the party to avoid inessential litigations.

Under the aforementioned Acts, sure powers are unconditional with the assignee:

Power to sell: The Receiver is sceptered to sell theinsolvent's property while not the consent of the Court. however the aforementioned Acts don't empower the receiver or the official party to sell something quite the property of the insolvent that vests in him by reason of the judgement.

Power just in case of encumbered property: wherever a Receiver is appointed by consent of the parties once passing of a decree in an exceedingly mortgage suit purchasable of such encumbered property and it's united that the receiver shall recover the rents of the property for a amount of 1 year handy over constant to the creditor, the mortgagee's right to receive the rents can not be affected by financial condition of the debtor at any time throughout this amount and neither the official party nor different decree- holders can be entitled to a rate ready distribution of such rents.

Bonafide Sale

Section fifty three of the Provincial financial condition Act provides that a transfer of property not being a transfer in favour of a client in honesty and for valuable thought shall, if the transferrer is adjudged insolvent at intervals 2 years once the date of transfer, be revocable  as against the Receiver. Further, wherever the somebody transfers all or well all the properties in considerationof the past debts, such a transfer constitutes an act of financial condition since it's the result of retreating all the property from the legal method, that his creditors have a right to enforce against the insolvent.

Thus, an order of judgement of financial condition can deprive the insolvent from dealing with his properties that shall be dealt with by the Official party or Receiver once once such a person is appointed by the Court.

Property Advocates in Bangalore

An Article about "LEGAL TERMS USED INHINDU SUCCESSION ACT"

LEGAL TERMS USED INHINDU SUCCESSION ACT

What is meant by agnate and cognate? The words agnate and cognate are used to described lineage One person is said to be AGNATE of another person, if both are related by blood or adoption only through males.

COGNATE means, the two persons are related by blood or adoption, but not only through males. Explain the terms full blood, half blood, and uterine blood? Persons who are related to each other and descended by a common ancestor by same wife are said to be related by full blood. Persons being descendants of a common ancestor, but by different wives are said to be related by half blood.

Persons who are descendants of common ancestress but by different husbands are said to be related by uterine blood. What does the words: heir, interstate; testamentary succession? Heir is a person, both male and female who is entitled to succeed to the property of deceased. Interstate means, a person who dies without making any will as to the succession to his property. In contrast, testamentary succession means, succeeding to the property of the deceased according to the terms of the legally valid will made by the deceased.

What are Mithakshara and Dayabagha laws?

Both are two important schools of Hindu Law. Mithakshara law is followed by entire India expect Bengal which follows Dayabagha Law. Sri Vignaneswara is the propounder of Mithakshara School of thought. He was an aestic and has written detailed treatise on Yaghnavalka srnriti which known as Mithakshara Dayabagha is based on the treatise of Jeemoothavahana. There is a basic difference between the two schools of thought with regard to successioIJ Under the Mithakshara Law the inheritance is by survival and succession that one acquires the right to the family property by his birth and not by succession irrespecti ve of the fact that his elders are living. Thus every child born in the family acquires right/a share in the family property. In case of self acquired property, the inheritance in by succession, that is on the death of the owner.

In Dayabagha no body acquires the right, share in the property by birth as long as the head offamily is living; that is the children do not acquire any right, share in the family property, as long as his father is alive and only on death of the father, the children will acquire right share in the property.

What is a co-parcener?


The word Co-parcener is used in relation to Hindu undivided property (joint family). The members of Hindu undivided family are called co- parceners. They are related to each other and to the head of the family. Hindu undivided family may contain many members, but members within four degrees including the head of the family (Kartha) are called co-parceners. Female members are also Co-parceners. The following is the simple example.

Property Advocates in Bangalore

An Article about "After Purchase of Property What Next ?"

After Purchase of Property What Next ?

The activities to be undertaken by the purchaser of immovable property can be broadly classified into: Pre-registration and Post-registration activities.
 

Pre-registration requirements:
 

Pre-registration activities involve identifying the location of the property, ascertaining the valid and marketable title of the Vendor, Legal scrutiny report, Mode of payment, Sale Agreement, etc. Before registration of the sale deed, it is very important to verify all the relevant documents in original, in order to rule out subsistence of any kind of bank mortgages or encumbrances.

As the purchase of a property involves investment running into lakhs of rupees, availing the services of an Advocate having sufficient experience in property transactions would immensely help the intending purchaser in protecting his right, title and interest in the property.
 

Post-registration requirements:
 

Post registration activities are the steps to be undertaken by the purchaser after registration of the sale deed. There are certain requirements to be fulfilled in order to get valid title and to exercise ownership over the immovable property by the Purchaser. The following are the essential activities required to be carried out by the purchaser:
 

1. To obtain Original Documents: The first and foremost activity to be performed by the purchaser is to obtain original documents of title from the seller and compare them with the xerox copies, which the purchaser’s advocate would have scrutinized. If the advocate calls for other original documents or certified copies, ensure production of the same. It is always advisable to apply for certified copies of the sale deed.
 

2. Encumbrance Certificates: It is also necessary to register the application for updated encumbrance certificate in the Sub-Registrar office on the day of registration itself, which shall be from the date of entering into an agreement to the date of execution of sale deed.
 

3. Possession of property: Physical Possession of the property is of vital importance. It is advisable to inspect the property a day ahead of registration to make sure that the property is as per the sale agreement. One of the clauses to be incorporated in the sale agreement is that the Vendor shall hand over vacant possession of the property and the purchaser shall receive all the keys of the property at the time of registration. If need be, one may change the main door lock itself.

In case of vacant sites, it is necessary to put up a display board with the wordings “This property is owned by………….. Trespassers will be prosecuted”. Fencing of sites or putting up compound walls, though expensive, is preferable. Periodical visits to the site are a must to detect any kind of encroachment.
 

4. Transfer of Khatha and Khatha Extract of the property: After registration of the sale deed, the purchaser must ensure that the Khatha in the records of the local bodies like Gram Panchayath, CMC or the City Corporation is transferred in his name. For such transfer, it is necessary that both the buyer and the seller have to sign the application for transfer of Khatha, which is done simultaneously while signing the sale deed. This is necessary to avoid unnecessary disputes and complications in future.
 

Duly filled Khatha transfer applications have to be presented before the concerned office, along with a copy of the sale deed and receive necessary acknowledgement.

At the time of execution of sale deed, the Vendor has to sign the following documents:

-> Khatha transfer application,
 

-> Letter for transfer in favour of the purchaser of Statutory deposits for electricity meter,

-> Letter for transfer in favour of the purchaser of Statutory deposits for water, sanitary connection, 

-> In case of second hand sale of apartment, letter for transfer of Apartment Membership and Corpus fund has to be obtained by the purchaser from the seller.

The following is the procedure involved for transfer of Khatha:
 

-> To present an application in the prescribed form in the office of the City/Town Municipality or Corporation having jurisdiction along with the supporting affidavit giving all particulars required in the application. In the affidavit, it is necessary to declare that you are the present owner.

-> To enclose certified copy of the sale deed with the latest tax paid receipt of the property.

-> To furnish Khatha Certificate in the name of your Vendor.

-> The sketch showing the locality giving particulars of the ward or zone, name of the street, etc and deposit the fee fixed.

Local bodies transfer Khatha in the name of the Purchaser after collecting a transfer fee, which is generally 2% of stamp duty paid on the sale deed and issue written confirmation of transfer in the name of the purchaser. While transferring the Khatha, local bodies, re-assess the property and issue assessment notice in the name of the Purchaser. Further, tax paid receipt should be in the name of the new owner. 

For the properties coming within the jurisdiction of BMP, Computerized Khatha Certificate and Khatha Extract will be issued. Khatha Certificate is an authenticated document to prove the ownership and possession of a particular person over the immovable property. While Khatha Extract reflects the actual sital area and built up area, if the building is existing. Further, property tax required to be paid will also be reflected in the Khatha Extract, which will be arrived at after reassessment. 

5. Building License and Plan: If you are intending to make material alterations or proposing to construct a new building on the property acquired by you, it is necessary for you to get the license and plan approved the local bodies within whose jurisdiction your property falls. This can be obtained only after depositing the prescribed fees. In order to get the License with approved plan from the authorities, the Khatha of the property must stand in your name in the revenue records of the concerned local body and up-to-date taxes ought to have been paid. The normal procedure for securing License with approved building plan is to obtain 10 sets of blue prints of plans from licensed architect/building engineer.

Construction has to be commenced after the license is obtained and should be completed within 2 years from the date of obtaining the license and approved plan, which will be stipulated in the Plan itself. However, you can get an extension if the construction could not be completed within the stipulated period. Once the construction of the new building is finished, you must get such a house/building assessed afresh and pay taxes as determined by the concerned revenue authorities.

6. Power connection: After Khatha is transferred in the name of the present owner, the present owner has to ensure as to whether the statutory payments/deposits in respect of the property including the electricity charges are paid within the stipulated time. If fresh or new electricity connection is to be obtained, it is essential to enlist the services of the Licensed Contractor. The amount of deposit to be made depends upon the requisitioned load or number of kilowatts required. In case the property is already serviced with electricity, an application has to be presented by the Purchaser in the prescribed form before BESCOM or other competent authorities having jurisdiction, enclosing an affidavit declaring that you are the present owner and by filling up the particulars required in the application along with the consent letter of the previous owner for such transfer. Subsequently, the electricity meter will be transferred in the name of the Present Owner.

7. Water and Sewage connection: The purchaser should also verify the statutory payments / deposits made by the previous owner and collect such deposit receipts from the seller. For fresh connections, it is desirable to enlist the services of a qualified plumber. In case your property already has water connections, then same procedure as required for change of power connection has to be followed. However, the documents are to be presented before the concerned authority.

9. Corpus Fund and Club Membership: If the purchaser is intending to purchase an apartment, it is also necessary that the vendor has to issue a letter for transfer of corpus fund and club membership in the name of the purchaser.

10. Bank Loan: In case the purchaser wants to avail bank loan then the purchaser is required to deposit all the relevant title documents in original with the Bank and obtain endorsement to that effect from the concerned Bank. However, it is advisable to keep zerox copies of such documents intended to the deposited in the Bank for personal records. 

Thus, mere execution of the sale deed does not automatically confer the title in favour of the purchaser. A person can enjoy legal and peaceful possession and enjoyment of the property only after the post-registration activities are completed.    

Property Advocates in Bnagalore

An Article about "Confirmation Deed"

Confirmation Deed

Indeed there is every need that great care has to be taken by the Purchaser of a Property to ensure that the Sale Deed executed in his/her   favour is correct in all respects; and that there is no mistake or error whatsoever in the said document which conveys the right, title and all privileges in absolute terms.

In order to ensure that the Sale Deed executed and got registered in his/her or their favour, the Purchaser of the property should get the document vetted thoroughly and take every step to get the errors or mistakes, if any, crept in, are rectified  and confirm the Purchaser's title over the said property.

Normally, it is observed that many a time some sort of document supplementing the main absolute sale deed, or mortgage deed etc., is required to be executed in order to remove the defect occurred while executing and/or registering the main document or to correct mistake crept in. In such event, the necessity of CONFIRMATION DEED arises.   

The strict meaning of the term “Confirmation ” is the approbation of or assent to an estate already created by which the confirmer strengthens and gives validity to such estate so far as it is in his power. Confirmation can take place by three ways: (1) by a Deed;  (2) by acquiescence or  (3) by limitation. The latter two are confirmation in law and the first one is confirmation by a deed.

There are two types of Confirmation Deeds.  One is a Deed of Confirmation whereby a person confirms or gives his assent to a document of transfer executed by another person, where the former has not been made a confirming party to the main document of transfer either through oversight or for some other reasons. The second type of Confirmation deed document is executed when a party to a document has made some mistake in signing the main document or has failed to admit execution before the Sub Registrar within the prescribed time and the Sub Registrar has refused to register the document so far as the defaulting party is concerned or in some other respect.

Usually, the need for execution of second type of confirmation deed will frequently occur. It is very common that for one reason or the other a party executes a deed and when it is later on lodged for registration, fails to appear before the Sub Registrar in time and as a result whereof the Sub Registrar refuses to register the deed so far as he is concerned.  In such a case to remove the defect, a Confirmation Deed is executed by such a party whereby he confirms the execution of the main deed and confirms the main deed as valid and binding upon him and if he is the transferor or one of the transferors he also confirms that he claims no right, title and interest in the property and the same would belong to the transferee. Copy of the main deed is to be attached with the Confirmation Deed and it is desirable to have the copy signed by him. How far such a document cures the defect is not very clear but this is the way the mistake can be rectified as it would not be possible to execute a fresh deed and pay fresh stamp duty and registration charges. In any event it appears that such a document would act as a promissory estoppel against the party.

Section 66 of the (English) Law of Property act, 1925 provides that “ a deed containing a declaration by the estate owner that his estate shall go and devolve in such a manner as may be requisite for confirming any interests intended to affect his estate and capable under this Act, of subsisting as legal estates which, at some prior date were expressed to have been transferred or created, and any dealings therewith which would have been legal, if those interests had been legally and validly transferred or created, shall, to the extent of the estate of the estate owner, but without prejudice to the restrictions imposed by this Act in the case of mortgages, operate to give legal effect to the interests so expressed to have been transferred or created and to the subsequent dealings aforesaid. Even though there is no such specific provision in any of the Statute in our Country, yet such a document will have legal effect by way of estoppel or admission.

Section 17(1) of the Registration Act also recognizes the Confirmation Deed as it provides that any document confirming any interest in an immoveable property requires registration. Such a document will only attract stamp duty as on agreement under article 5 (h) of the Stamp Act and should be registered, irrespective of whether the main document is registered or is to be registered.

The Confirmation Deed is executed on various circumstances such as :

• Confirmation Deed by the Vendor, whenever the Vendor has failed to appear before the Sub Registrar to admit the execution by him of the said Deed within the prescribed period.

• Confirmation deed of Sale by Trustees, whenever the Trustees, before the beneficiaries of the trust attaining the age of 21 years sell the land and premises to some others and execute a sale deed, without having any authority to do so under the said Deed of Trust and without obtaining leave of a Competent Court to do so.

• Confirmation Deed by Lessor of assignment, whenever the Lessor of Assignment without taking the prior consent of the Lessor of the Lease Deed assigns the demised premises comprised in the said Lease Deed in favour of the Assignee and when the Lessor of the Lease Deed has become entitled to terminate the said Lease deed.

• Confirmation deed by a trustee of Lease granted by other Trustees, whenever the Deed of settlement is executed by the Settlor in favour of the Trustees and when both the parties referred to in the said Deed of Settlement are the Trustees of the other part, thereby the said Deed of lease executed by the later part of the Deed of settlement under mistaken advice and when the Lessee demands the execution of confirmation deed by the remaining trustee in order to confirm the said lease deed.

Property Advocates in Bangalore

An Article about "NRI HOUSING FINANCE AND FINANCE IN INDIA"

NRI HOUSING FINANCE AND FINANCE IN INDIA

Buying a house is not difficult for Non-Resident Indians (NRIs) any more as the NRI Housing Loan makes the property investment a lot more convenient. Any individual staying abroad for Employment or for carrying on business or vacation outside India or for any other purpose in circumstances indicating an indefinite period of stay abroad are eligible for NRI Housing loan. Apart from that, Government Servants posted abroad on duty with the Indian missions or deputed abroad on assignments with Foreign Governments or Regional/International Agencies are also entitled to these loans. 

NRI Housing loan is offered by some of the Premier Financial Institutions and banking in India such as ANZ Grind lays Bank, ICICI Bank, HDFC, HUDCO, CITIBANK, LIC etc. As an NRI, you can avail a maximum loan of Rs.1, 00, 00, 000/- or 85% of the cost of the property including the cost of land, whichever is lower. The rate of interest will vary from 11.25% to 14.25% per annum depending in the Financial Institution. At the time of making application for the loan a processing fee is payable between 1 to 2% of the loan amount that is applied for depending on the Institution.

The amount of loan to be borrowed will depend upon a person's repaying capacity. To arrive at the repaying capacity, Banks do take into consideration factors such as income, age, qualifications, work experience, number of dependants, spouse's income, assets, liabilities, stability and continuity of occupation, alternate employment prospects when the concerned person returns to India and savings history.

While applying for a home loan in India, the following documents are to be submitted along with the application:

1. Employment/Residency related documents:
•    Employment contract;
•    Latest salary slip;
•    Latest work permit;
•    Identity card issued by the present Employer;
•    Visa stamp on the passport;
•    Continuous Discharge Certificate (if applicable); and
•    Overseas Bank Account Statement of the last few months.
2. Property Related Documents:
•  Receipts for payments made for purchase of the dwelling unit;
•  Copy of approved drawings for the proposed construction/purchase/extension;
•  Agreement for Sale/Sale Deed;
• A detailed cost estimate from Architect/Engineer for property to be purchased/constructed/extended;
•    Allotment letter;

Once the loan is sanctioned, the period of repayment of the loan is determined which normally falls in the range of three to ten years. Loan can be repaid through Equated Monthly Installments (EMIs) comprising principal and interest. EMI payments can be made through post dated cheques from your Non-Resident (External) Account/Non-Resident (Ordinary) Account in India.

TAX DEDUCTION ON HOME LOANS INTEREST

Incentives are offered under the Income tax Act on the investment in housing properties. Incentives come by way of deduction of payment of interest on the borrowed amount to buy or construct the house. Provisions relating to such deductions are provided in Section 24 of the Income Tax Act. The interest paid on a housing loan can be deducted from out of the taxable income of an Assessee according to this Section. The interest is permitted both on an accrual basis or due basis even if it is not actually paid in the year of accounting. To claim the deduction, the Assessee has to present a certificate from the Lender to whom the interest has to be paid on the borrowed capital pointing out the amount of interest paid or payable. The money should have been borrowed for acquiring the property or for constructing the property or repair of the property. Interest paid on a new loan taken to repay another existing loan is also permitted. The amount can be deducted in five equal installments starting from the previous year in which the house is acquired or built.

The first installment has to be deducted in the year of completion of property construction or the property is acquired and the remaining four installments in the four following years. Deduction for the full year is allowed even if one day is left in the year.

The maximum amount that can be deducted is Rs.1.5 lakhs. The money should have been borrowed on or following April 1, 1999 for acquiring it or for the construction. It is necessary that such acquisition or construction should have been finished within three years from the end of the financial year, in which the capital was borrowed. It has to be certified by the Lender that the interest is payable for the loan advanced for acquiring or constructing the house.

The deduction amount is limited to Rs.30, 000 if the money has been borrowed prior to April 1, 1999.

The date when the construction was started is not important. It is important only when the construction is completed within three years from the end of the financial year in which the money was borrowed. It is also not necessary that the whole cost to be financed though loan. Any portion of the cost of the house can be financed through loan.

It is advisable for purposes of tax to borrow and build or purchase instead of using one's own fund. The reason is that, if one uses his own fund he will not get any tax deduction from his total income.

Property Advocates in Bangalore

An Article about "Valid Transfer of Property Rights by a Seller"

Valid Transfer of Property Rights by a Seller

Marketability of Title is the condition precedent for sale of any immovable property. Under Section 55(1) (a) of the Transfer of Property Act, the seller is bound to disclose any material defect in the property or title and to produce all the documents of title to answer the requisitions on title made by the purchaser.  Under Section 55(2) of the aforesaid Act, the Vendor is deemed to warranty the title or the right to sell. 

Marketable Title:

The statutory covenant of title is implied in every contract for sale of an immovable property, even if there is no express clause embodying such a warranty. The term “Marketable Title” refers to absolute right, title, interest and ownership of the Vendor to convey the property without any hindrance. 

In other words, the title is considered to be marketable if the same is free from encumbrances, claims and beyond reasonable doubts. Thus, if there is any encumbrance or claims and the vendor does not discharge it, the title cannot be said to be marketable.

In fact, Section 55   (1)  of the Transfer of Property Act envisages that if the property is sold subject to any encumbrances or claims, it should be so clearly stated and the Vendor will be under obligation to discharge any such encumbrances existing at the time of sale on the property. 

On the other hand, if any encumbrance is found to exist and the same is not revealed before completion of sale, then the Vendor is bound to pay for the same or indemnify the purchaser in that behalf.

The primary duty lies on the person intending to sell the property to prove that title of the property is free from any defects and any subsequent transfer will not make such transaction either void or voidable. 

For example, if the vendor owns a property as Kartha of the Joint Hindu Family in which minor’s rights and interests are involved, the Kartha is bound to prove the legal necessity for sale or to obtain an order from the competent Court seeking permission to the property on behalf of the minors. 

Restrictions on title:

Implied warranty of title on the part of the Vendor, although absolute, will not however apply to cases where there is a clear contract between the parties to the contrary. 

Such a contract can be either express or implied, but the contract must be such as would clearly negate the warranty of title. 

Thus, certain restrictions are imposed on the purchaser’s right to examine the title in full, which is done when the Vendor is not sure of making out a marketable title, particularly when the Vendor is not in possession of the property. 

Though, the restrictions may be contrary to the provisions under Section 55 of the Transfer of Property Act, the same will be binding on both the parties by virtue of mutual agreement and understandings and even if defect in the title is found subsequently, objections in this regard cannot be raised due to such restrictions.

Where the Vendor stipulated that the property would be conveyed as he has received the same from his predecessor or that the title of the Vendor has to be accepted without dispute or that it should not be enquired into and the Purchaser is bound to accept the title of the Vendor as it appears to be, such a stipulation would be contrary to the contract and Section 55(1) (c) and (2) of the Transfer of property Act will not apply. Further, such a condition will not relieve the Vendor from the obligation of making out the best title though the purchaser would be bound by such condition even if the title is proved to be defective. 

However, in absence of such a contract to the contrary, the Vendor is bound to remove all the defects even if the purchaser was aware of the same. Again an express covenant does not, in clear and unambiguous terms supersede the implied covenant.

Thus, by virtue of Section 55(2) of the Transfer of Property Act, the purchaser can rest his claim on the implied covenant of title contained therein.

Conditions restricting the title or proof of title to which the purchaser is entitled must neither state nor suggest things which, to the Vendor’s knowledge, are incorrect. The condition will not be binding if it requires the purchaser to assume that what the vendor knows to be false or it affirms that the state of title is not accurately known to the vendor when, in fact, it is known.

Production and Scrutiny :

In order to examine the title of the Vendor, the purchaser has to examine all the relevant title deeds in the possession or power of the Vendor.  Under Section 55(1) (b) of Transfer of Property Act, the Vendor is under an obligation to produce not only those documents in his possession but also in his power to produce. 

Thus, if the Vendor has deposited the title deeds with a mortgagee, the Vendor has to produce such documents for inspection of the purchaser through mortgagee. However the Vendor is not under an obligation to produce irrelevant documents not in his possession or power but it is the discretion of the purchaser to inspect the same at his own  cost.

It is only after production of all the relevant title deeds, assistance of advocates having sufficient experience in the scrutiny of the title documents will help the purchaser to conclude whether the Vendor has got marketable title or not.
When the property market is favorable to the Vendor, the Vendor, many  times, dictates the terms and tries to foist a title on the purchaser.

Adhere to the norms

Under any contract of transfer, fundamental principles of Transfer of Property Act must be strictly adhered by the parties, without letting out either of the parties to escape from their respective obligations, which will reduce litigations and ensure transfer of marketable title from the vendor to the purchaser, free from encumbrances, liens, claims, etc. When a faulty title is passed on to the purchaser, it is bound to result in the spate of claims and litigations.

Purchasing the property involves various steps such as scrutiny of title deeds, verification of documents, executing the deed of Agreement to sell, making  payment as agreed between the Vendor and the Purchaser and transfer of ownership and title deeds  in the name of the Purchaser by executing Sale Deed. 

It is not advisable to purchase a property hastily by approaching the brokers and subsequently entangling oneself into litigations in case of any defective title.
Ownership and right over the property has to be passed on in compliance of the provisions as envisaged under law for which services of Advocates having sufficient experience and knowledge in property transactions is necessary to avoid litigations that are likely to arise in future.

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An Article Regarding "Gifting of Properties"

Gifting of Properties

 

Gifting of Properties to the beloved ones on different occasions is a way of expression of love and affection . Gifts are made even for other purposes including philanthropic, religious or charitable purposes. When such gifts are made and accepted, According to Law, there is transfer of property in favour of the Donees from the Donors. Transfer of property can be both movable and immovable. Whereas this Article, deals with gifts of immovable property.

‘Gift’, is defined in section 122 of the Transfer of Property Act, 1882, as a transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person, called the Donor, to another, called the Donee and accepted by or on behalf of the donee. Section 123 of the Act stipulates the procedure as to how transfers of immovable properties are affected.

Characteristics:

For a valid  Gift, it  must have the following essential characteristics; (1) Donor must be a competent person, (2) it must be made voluntarily, (3) it should be without consideration,(4) there must be an offer by the Donor, (5) there must be an acceptance by the donee or on his behalf, (6) acceptance  must be done during the life time of the Donor and the donee; and (7) must be an existing property and not a future one.

A gift is essentially a gratuitous transfer. In other words, non-acceptance of monetary consideration in return from the donee by the Donor is the hallmark of a gift. Even an undertaking by the donee to pay a token sum would tantamount to consideration and the transaction would not qualify to be treated as a gift. A gift cannot be made with an intention of placing the donee under a legal obligation. Section 123 of the Transfer of Property Act, postulates that an immovable property requires registration and for want of registration oral gift is not admissible in view of Section 17 of the Registration Act. Therefore, gift of immovable property can be effected only through a registered instrument. The Donor must sign a deed of Gift and atleast two witnesses must attest his signature. A deed of gift needs the donee’s acceptance and therefore the general practice is that donee, is made a party to the deed and also to be made an executing party. If the donee does not accept the gift, the mere fact of registration will not make the gift legal. A gift is complete upon the execution of the deed of gift and its delivery to the donee, which constitutes his acceptance of the gift.

Contents:

A gift deed must contain a brief narration as to how the Donor got possession of the property; whether it is his self-acquired property or his share of ancestral property, whether the property is encumbered or not and if encumbered, how he will indemnify the Donee against any monetary loss, whether the Donor is competent to deal with the property and whether the donee is competent to accept the gift.

If the gift is to a Public trust or a charitable institution, it is always advisable to follow the procedure adopted for affecting the sale of an immovable property by scrutinising the title as to its ownership, marketability and encumbrance. It must be in writing.

Intention of maker:

The donee obtains his interest in the property immediately on execution of the gift deed by the Donor. Hence, even if there exists a recital in the gift deed that the gift is revocable, in effect it is irrevocable. It is the intention of the maker and not the nomenclature of the document, which requires consideration to find out as to whether a document is a gift deed or not and the document must be read as a whole. Further, Donor can gift to the donee only an existing property and not the future property. The Donor must ensure that, the donee is competent enough to accept the gift. Only a major can make a gift and not a minor unless the guardian of the minor is empowered to do so. A minor can accept a gift, if he is capable of understanding the transaction. Otherwise, he can accept it through his Guardian. Indian Registration Act requires that all non-testamentary gifts if reduced into writing require registration with an exception as provided in sec.129 of the Transfer of Property (T.P.) Act dealing with the gifts of Mohammedans.

Acceptance and delivery:

Acceptance of the gift must be given by the Donee or on his behalf during the lifetime of the Donor and if the donee dies before acceptance, the gift becomes void. The Donee is not bound to accept the gift in the same form, in which it is offered to him. Mere dedication of some land for the purpose of a temple will not qualify to be considered as a gift in the absence of acceptance by the donee. Post-acceptance by the donee of the gift also is impermissible. A gift is not valid unless it is accompanied by delivery of possession of the subject of the gift from the Donor to the Donee. But, where from the nature of the case physical possession cannot be delivered the Donor must do all the Acts so as to entitle the donee to obtain possession.

Undue influence:

While effecting any gift, the Donor should not be under pressure or under undue influence of the Donee and the gift should emanate from a free will and at the discretion of the Donor. Suppose, X, the Donor, has been looked after by Y, the Donee during the last phase of his life and thereby X develops love and affection towards Y leading to execution of the deed of gift. This circumstance cannot be considered to be a circumstance of undue influence. If a gift is not spontaneous and independent, there may be a case of undue influence against the Donor. 

Separate Property of Co-Parcener:

The Karta of a Hindu family has the power to make a gift within reasonable limits of the ancestral immovable property for pious purposes. A Co-Parcener, throwing his separate property into common stock makes no gift. It has been held by the Supreme Court in the Mallesappa Bandappa Desai vs.Desai Mallappa [1961 (3) SCR 779] case; that the doctrine of throwing into common stock inevitably postulates, that the Owner of a separate property is a Co-Parcener, who has an interest in the Co-Parcenary property and desires to blend his separate property with the Co-Parcenary property. The Act by which the Co-Parcener throws his separate property to the common stock is a Unilateral Act. By his individual volition he renounces his individual rights in that property and treats it as a property of the family. When a Co-Parcener throws his separate property into the common stock, he makes no gift under the Transfer of Property Act.

A minor can accept a gift and the minority by itself is not a bar to his acceptance of the gift. A gift can be made to a class of persons provided the members there of, are existing at the time of gift. Where a gift is made to two Donees and the gift to one of them is invalid, the other would take the whole estate. Acceptance of gift may be either express or implied. Even silence on the part of the Donee is sufficient to infer that the Donee accepted the gift.

Differs from Sale:

A gift is distinguishable from a Grant, Sale and Will.

In the case of grant, neither acceptance nor delivery of possession of the property is necessary. A gift is voluntary and without consideration while a grant may lack both. A gift conveys the corpus while a grant may convey only the right of enjoyment of property without conveying any interest in the corpus. A gift must be unconditional, but a grant need not be so. Property acquired by gift is transferable, but one obtained by grant is not necessarily so and the grant depends upon its subject, purpose and terms. A grant may be revocable at the Will of the grantor, while a gift is irrevocable at the will of the Donor.

In the case of sale, consideration in money or money’s worth is a must while a gift is a voluntary transfer of property without any consideration. In sale of property, unlawfulness of consideration would render the whole transaction void since consideration is an essential element of sale. But, in the case of a gift, as consideration is of no consequence, unlawfulness of consideration would not invalidate the gift.

The criteria to be adopted for ascertaining whether an instrument is a Will or not is by examining whether the disposition takes effect during the life time of the Executant of the instrument or whether it takes place after his demise and whether it is revocable or not since in the case of gift, the transfer of property takes place immediately upon execution and delivery of the gift deed. In the case of a Will, the Donor must reserve to himself the power of revocation, the Will must not be expressed and intended to operate in praesenti but only in future on the death of the Donor and regard must be had to the intention of the Donor and the language used by him.

When invalid:

A gift is considered as invalid; (a) if the property gifted is not in praesenti, (b) if one of the Donees refuses to accept his share (in respect of that Donee), when the gift is made jointly to the Donees, (c) if it is a revocable gift, (d) if it is an illegal transfer and (e) if it is transferred by an incompetent person.

Stamp Duty:

If the Gift is given to the family members, Stamp Duty is applicable as per Karnataka Stamp Act. The family members in relation to the Donor for the said purpose means; husband, wife, son, daughter, daughter-in-law, grand children etc.

If it is other than the family members, that is any trust, charitable institutions etc., Stamp Duty is payable as a Conveyance as per the market value.

Property Advocates in Bangalore

An Article about "Legalising building fraud will lead to disaster- High Court"

Legalising building fraud will lead to disaster- High Court

The Bombay high court, while hearing petitions seeking to legalise illegal structures in various parts of town, has ruled that Regularization of unauthorized constructions will need to be permitted on a case-to-case basis and may not be granted as a matter in fact.

A division bench of the high court command that the design authority had to contemplate numerous factors like infrastructure, congestion, water provide, and roads before regularizing extrajudicial constructions against payment of a penalty.  If there is an increasing pressure and burden on the existing facilities and amenities then the whole system would collapse ensuing in large-scale inconvenience, it had been observed.

The cases before the Hon'ble Court pertained to regularization of assorted structures in Bandra, Goregaon, Boriveli, and Pydhonie aside from the highest seventeen floors of Gaurav Gagan, a 24-storeyed building in Kandiveli (West).

The Hon'ble judicature additional dominated that it can't be same as a matter of general rule that unauthorized constructions should be regular if the ground house index (FSI) is on the market or are often generated within the style of transfer of development rights (TDR) from different sources by the builder. though section 53(1) of the geographic area Regional urban planning Act provides for regularization of unauthorized structures, the indiscriminate regularization through TDR or FSI can have disastrous consequences. Before the authorities take any call regarding regularization they need to not solely contemplate the alleged hardship to individual flat purchasers however conjointly the interest of these living within the neighbourhood and also the public at giant.


Tips on real estate dealings

The process of shopping for and commerce of unmovable properties has become advanced and also the folks that build things happen have magnified. Now, you'll need to modify land brokers/agents, appraisers, financiers, lawyers and other personalities that will be needed in the process. it's higher to induce the proper folks to represent you and defend you from attainable uncommon circumstances.

Availing of the services of execs is that the opening move in protective yourself from fraud. These professionals recognize indicators of dangerous deals and that they will simply advise you on your attainable next moves to avoid negative expertise. 

The best person to safeguard you from frauds may be a land professional person. you've got to seek out one World Health Organization can solely be loyal to you and no-one else. he's the person to trust and he's chargeable for protective your interest. you've got to create certain that you just are going to be hiring someone World Health Organization is trustworthy, old and credible. typically there's a better tag for this sort of lawyer however it's sure as shooting well worth the distinction in worth once you get someone you actually don't recognize. In your hiring method, ne'er trust recommendations while not doing all of your background check.

When you have already got a trusty land professional person, you'll avoid fraud by not sign language any document that your professional person failed to approve. There ar several cases once folks sign documents while not the recommendation of the professional person and find yourself discovering that there ar stipulations within the document that weren't in agreement on. continually use the services of your professional person no matter is your concern. you've got to be honest and tell him regarding your observations and hear him as he can continually have recommendations that may cause you to profit even a lot of.

The most vital thanks to avoid fraud is to grasp what the law says. you furthermore may need to do due diligence in change yourself regarding the state of the real estate business and improve on your level of understanding within the field. The knowledge that you gain can make you do away with suspicious and fake dealings.

Property Advocates in bangalore

An Article about "Corrections in the Property Documents"

Corrections in the Property Documents

Documents are the record of varied transactions; they contain bound terms, conditions, thought quantity, names of the parties to the dealing, date of the dealing, clear and complete description of the topic of dealing, thus on build them simply known. as an example, sale deed of a property contains the origin, flow of the title, gift standing, names of vendor and buyer, thought quantity, easementary right and temporary description of the property with measuring, construction and bounds. they're the permanent records, that area unit relied on for generations. Such documents should be clear, clear, readable, freed from error and will not produce any doubts or disputes. They replicate the terms of dealing that each the parties have freely consented.

At times, some additions, alterations, cancellations are inevitable, that area unit detected at the time of execution. Any such alterations, cancellations, additions need to be done before presenting the document for registration. All such modifications should be authenticated by full signature of all the parties to the documents. But signature of witness isn't necessary for such modifications.

solely full signatures and not initials or short signature ought to be insisted. For cancellations, the first words ought to be showing neatness stricken off, it ought to be signed by parties to the document. Erasing fluid mustn't be used. Registering authority records such additions, alterations, cancellations page wise on the document itself. This validates the additions, alterations, cancellation etc. Any modifications done once registration isn't valid and doesn't kind a region of the document. additional over the document itself becomes invalid. 

Copies of the registered documents are maintained at registering offices and licensed copies issued by such authorities additionally record on certified copies the quantity of cancellations, additions and alterations done before registration. they are doing not contain something more, deleted, changed once registration. thus correct care ought to be taken so all modifications area unit done before registration below the total signatures of all the parties to the transactions. If something needs to be modified once registration a separate rectification deed needs to be dead.

Filling up blanks

Some documents might have blanks because the needed data are on the market solely at the time of execution. typically date of execution is left blank, until the date is finalised. The details of demand drafts, cheques like number, name of Bank, Branch are left blank. All such blanks need to be stuffed up before presenting the document for registration and will be echt by all the parties to the document or fiduciary below full signature.

Attestation

Attestation means that witnessing the documents. Certain documents like will, agreement to sale, sale deed need attestation. Execution of the documents should be witnessed by two persons, UN agency are major and of sound mind. each the witnesses ought to affix their full signature and will furnish their address. Attestation isn't necessary just in case of bound documents.

Thumb Impression

There are many folks UN agency cannot sign. Thumb impression of such individuals are taken for execution of documents rather than signature. hand thumb impression (LTM) {in case|just just in case} of males and manus Thumb Impressions (RTM) in case of females need to be obtained on documents for execution. temporary description   "LTM   or   RTM   of Sri/Smt…………………    " needs to be written now below the thumb impression. because the persons UN agency affix thumb impression are illiterate, UN agency cannot scan or write, the complete contents of the documents ought to be scan over and explained to them and a separate note thereto result needs to be annexed to the document ideally signed by an Advocate.

Thus, the transfer or assignment of right, title and interest over the properly, regardless of the character of transfer, entirely depends upon the deed of conveyance. Any ambiguity, unintended addition or deletion within the deed might make to disputes. Therefore, to avoid any unsavory things care ought to be taken whereas drafting the property documents.

Possession of property

It is vital that the transferer transfers possession of the property in favour of the transferee. it's not necessary that actual physical possession needs to be bimanual over to the transferee, however even grant of possession can transfer and make right and interest over the property in favour of the transferee

Property Advocates in Bangalore