Yes, any person even NRI’S can buy or sell property through a valid registered transfer deed in India.
Archives: FAQs
Can a minor execute a Transfer Deed?
A minor cannot himself execute a Transfer Deed. There are certain essentials that need to be fulfilled before executing a transfer deed, in case of a minor.
Can a transfer deed be cancelled?
Yes, a registered transfer deed can be cancelled, but it can only be done through the court’s orders or a registered cancellation deed, and only in limited circumstances, such as mistake, fraud, or misrepresentation.
Can a transfer of movable property be made through a Transfer Deed?
No, the transfer Deed is generally used and executed for immovable properties only.
The Ownership of a movable property passes when the property is delivered to the buyer (actually or constructively) and a written Transfer Deed is not mandatory for transferring a movable property.
What is the difference between Registration and Mutation?
The registration is a process in which the Transfer deed is registered with the registry, establishing the legal title of ownership.
Whereas a Mutation is one where the revenue or the municipal records regarding the taxes are updated with the changes.
Is paying Stamp duty mandatory under the law?
Yes, without paying stamp duty or even underpaying the stamp duty, you can not get the Transfer Deed registered, and the document may be held null and void.
Does having possession of the property mean owning the property?
No, just having possession of the property doesn’t mean you are the owner of the property. You will become the legal owner of the property only after a transfer deed is registered in your name.
Can ownership be transferred through an agreement to sell or through GPA?
No, Courts have clearly mandated regarding the valid transfer which could be only through a Valid registered Transfer Deed, and any kind of agreement to sell or GPA alone will not create a legally valid title on the property.
Can a Transfer deed be registered in any state other than the one in which the property is located?
No, a transfer deed needs to be registered in the same state where the property is located