Yes, many inherited properties may lack updated records, making verification crucial before sale and transfer.
Archives: FAQs
Do I need to do a Title Search when I already have the original Sale Deed?
Yes, the presence of an original Sale Deed simply indicates that you purchased the property, but it does not guarantee that the property was free from mortgages, liens, or lawsuits at the time of purchase. You are going to need an Encumbrance Certificate in order to establish that you currently hold a property that is free of any encumbrance.
What is the time spent in the process of Property Ownership Verification in India?
The time spent verifying property ownership varies among states in India and depends on the location of the property. Nevertheless, under normal circumstances, the time required to issue a certified copy of property title documents and conduct a Title Legal Review can be between 7 and 15 business days after sufficient payment and submission of the documents.
Can an NRI buy or sell Immovable property in India using a Transfer Deed?
Yes, any person even NRI’S can buy or sell property through a valid registered transfer deed in India.
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.