This document outlines 8 key types of legal documents that are important to scrutinize when examining the title of a piece of land:
1) Documents showing the chain of ownership such as deeds and wills.
2) Clearance certificates if the land exceeds certain size limits set by the Urban Land Ceiling Act.
3) Property records like Form 2 and Form 6 that show the registered owners.
4) Index II documents from the sub-registrar showing past buyers and sellers.
5) Title certificates and search reports from advocates examining ownership records.
6) Special considerations for minor-owned property given legal restrictions.
7) Non-agricultural permission if converting agricultural
This document describes the step by step process of registering a property in India. Whether one buys property from an individual or from a real estate developer, sticking to the property registration process will make sure that property titles are free and clear and are legally assigned in buyer's name.
What are the various kinds of property disputes in India? What are the laws to resolve these property disputes? What kind of law is applicable to your specific property related dispute? Find it all in this document.
Registrar's Caveat under Land Law II.
Contains;
1. Function of a Registrar
2. Effects of Registrar's Caveat
3. Who can apply for Registrar's Caveat
4. Remedy of an Aggrieved Party under RC
5. Cases involved
This document describes the step by step process of registering a property in India. Whether one buys property from an individual or from a real estate developer, sticking to the property registration process will make sure that property titles are free and clear and are legally assigned in buyer's name.
What are the various kinds of property disputes in India? What are the laws to resolve these property disputes? What kind of law is applicable to your specific property related dispute? Find it all in this document.
Registrar's Caveat under Land Law II.
Contains;
1. Function of a Registrar
2. Effects of Registrar's Caveat
3. Who can apply for Registrar's Caveat
4. Remedy of an Aggrieved Party under RC
5. Cases involved
The main provisions of the Prevention Frauds Ordinance. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The amendments of Benami Transactions (Prohibition) Act should further enhance India’s attractiveness as an investment destination by encouraging greater transparency in ownership of property. Along with other regulatory changes such as implementation of Goods and Services Act (GST), Real Estate (Regulation & Development) Act (RERA) and Land Digitization, this amendment is a step in the right direction. In the short term, it will lead to a reduction in transaction volumes. However, in the long term, it will help aligning transactions with ethical standards and will increase international institutional investors and financial insitutions participation in this sector.
Benami Transactions (Prohibition) Act, 1988 has been amended and renamed as Prohibition
of Benami Property Transactions Act, 1988 (PBPT Act). Benami Act mainly focuses on finding
real names behind nameless real estate transactions. The amended act clearly defines the benami
transactions
Trust Caveat under Land Law II syllabus. Containing definition, nature and effect of Trust Caveat, Duration under Section 333 of the NLC. Express Trust also is included in this slide. Creation of Trust Caveat under NLC, its' effect & the person eligible in entering into Trust Caveat.
This chapter is listed under Land Law II.
Containing:
1. Introduction
2. Creation & effect of LHC
3. Procedures to Enter LHC
4. Function of Registrar
5. Effect of LHC
6. Failure in caveating the land
7. Cancellation of LHC
Looking to buy a piece of land or plot or ready to move in property? Make sure, you verify the property titles even before you begin price negotiations with the seller. How do you verify property titles? Find the detailed document comprising of the process to verify property titles.
These slides describe the main provisions of the Registration of Documents Ordinance of Sri Lanka and what should be observed by Notaries when submitting Deeds and Notices for registration. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The main provisions of the Prevention Frauds Ordinance. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The amendments of Benami Transactions (Prohibition) Act should further enhance India’s attractiveness as an investment destination by encouraging greater transparency in ownership of property. Along with other regulatory changes such as implementation of Goods and Services Act (GST), Real Estate (Regulation & Development) Act (RERA) and Land Digitization, this amendment is a step in the right direction. In the short term, it will lead to a reduction in transaction volumes. However, in the long term, it will help aligning transactions with ethical standards and will increase international institutional investors and financial insitutions participation in this sector.
Benami Transactions (Prohibition) Act, 1988 has been amended and renamed as Prohibition
of Benami Property Transactions Act, 1988 (PBPT Act). Benami Act mainly focuses on finding
real names behind nameless real estate transactions. The amended act clearly defines the benami
transactions
Trust Caveat under Land Law II syllabus. Containing definition, nature and effect of Trust Caveat, Duration under Section 333 of the NLC. Express Trust also is included in this slide. Creation of Trust Caveat under NLC, its' effect & the person eligible in entering into Trust Caveat.
This chapter is listed under Land Law II.
Containing:
1. Introduction
2. Creation & effect of LHC
3. Procedures to Enter LHC
4. Function of Registrar
5. Effect of LHC
6. Failure in caveating the land
7. Cancellation of LHC
Looking to buy a piece of land or plot or ready to move in property? Make sure, you verify the property titles even before you begin price negotiations with the seller. How do you verify property titles? Find the detailed document comprising of the process to verify property titles.
These slides describe the main provisions of the Registration of Documents Ordinance of Sri Lanka and what should be observed by Notaries when submitting Deeds and Notices for registration. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe the law that applies to leases and tenancies. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
Home Loans - Is the Property Legally Clear?musunuruakhil
Owning a house is usually considered as an important achievement in one's life. One should be very careful when acquiring a property. One should thoroughly verify the legality of the property before acquiring it to avoid future disappointments.
Updated and revised edition: The Ownership of House and Resident by ForeignerLeks&Co
Franework
Legal basis;
Subject;
Object;
Terms and conditions;
Transfer of house and residence;
Mortgage rights of house or residence;
Termination of the ownership of house or residence;
Differences between the previous regulation and the current regulation; and
Conflicting regulations.
The presentation TRANSFER OF PROPERTY ACT, 1882 includes the object of the Act, property, transfer, nature of transfer, kinds of transfer, the difference between movable and immovable property etc.
Title deeds, how to transfer property ownershipWISEMAN BHUQA
This presentations gives a brief overview of the legal process of conveyancing/transfer of property ownership in South Africa; and the role played by the conveyancer and the registrar of deeds.
2. • 1)Chain of conveyance/sale/partition/gift deed or will, by
which land was acquired.
These are documents by which the Title of a property is conveyed by the
seller to the purchaser. Conveyance is the act of transferring ownership of
a property from a seller to the buyer.
3. • 2) Urban Land Ceiling & Regulation Act (ULCRA) Clearance
Certificate if applicable (it has been repealed in some states) -
The ULCRA Act is a social legislation vide which the Government has set a
limit on the maximum permissible vacant land holding by a single entity in
an urban agglomeration. Depending on the location and zone
classification, this maximum limit varies from 500 sq. mt. to 1500 sq. mt..
The excess vacant land is liable for acquisition by the respective State
Governments. Any vacant land holding beyond this limit would require an
exemption under various sections from the ULC authorities, which is
governed by the Urban Development Department.
4. • 3)Property card extract (known by different names in
different States, for example forms 2 and 6, 7/12
extract/Adangal/ 10(i) extract/ Chitta, etc.).
This document shows the names of the owners of the property. It
contains details such as the Survey numbers, area, date from which the
current owner's names were registered as owners. The 7/12 extract is
issued by the Tehsildar or the concerned local land/revenue authorities.
Along with this, the corresponding record of rights in Form no.6 for last 30
years needs to be obtained/scrutinized.
5. • 4.Index II is a document issued by the office of the Sub- Registrar of
Assurances. It mainly mentions the names of the sellers & purchasers of a
property for which the document is registered.
• 5.Title Certificate and Search report is issued by an advocate after
conducting a search of the Title of the property, which is intended to be
purchased. The Title Certificate would state if the property is
unencumbered (an Encumbrance Certificate issued by the sub-registrar's
office should also be scrutinized) and has a clear marketable title. This
search report and Title Certificate can be obtained from one's own
advocate or if the search has already been conducted by the current owner
then one can have his/her advocate inspect these reports to ascertain the
title of the property. This search on the Title of the property is taken for a
minimum period of the last 13 years in continuity.
6. • 6)Safeguards in dealing with Minor property: A Minor is defined as a
person who has not completed the age of 18 years. If a property is
acquired by such a minor person, either by purchase or by inheritance,
then such property is termed as Minor property. The legislations which
deal with the concept of Minority are:
o Indian Majority Act
o Indian Contract Act
• Section 11 of the Indian Contract Act states that "every person is
competent to contract, who is of the age of majority according to the law
to which he is subject, and who is of sound mind and is not disqualified
from contracting by any law to which he is subject".
7. • Therefore, transactions in property belonging to a minor or person of
unsound mind would be null and void. For the same reason, minors and
persons of unsound mind cannot execute a valid Power of Attorney (POA)
in favor of another person and purchase and sale of minor property must
not be entertained through POA. However, Section 12 further clarifies that
a person is said to be of sound mind for the purpose of making a contract
if, at the time when he makes it, he is capable of understanding it and of
forming a rational judgment as to its effect upon his interests. The father
and mother are natural guardians of their minor children. However, simply
by virtue of being natural guardians, they do not have right to deal with
the Minor Property. An application has to be filed in the competent Court
for obtaining permission to deal with the minor property or to create
mortgage over the said property. Only after obtaining Court permission, it
is advisable to purchase a property owned by a minor person.
8. • 7. Non agricultural permission (N.A.):
If the land under consideration is agricultural land and if one intends to
develop the said land for residential/ commercial/ industrial use, then
such agricultural land has to be converted to non-agricultural land and an
N.A. order has to be obtained from the Collector of the District where the
property is located. Along with this, one needs to take the latest receipts
evidencing the payment of N.A. tax. In cases where the conversion from
agricultural use to N.A. use is not done within the stipulated period then,
there should be an order from the concerned authority extending the
period.
9. • 8. Clearance of the seller under section 230 A of the Income Tax Act,
1961.
After the receipt of the No Objection Certificate under and before
executing the Sale Deed, the Seller will be required to obtain clearance
certificates under Section 230-A of the Income Tax Act, 1961.The
Clearance Certificate under Section 230A of the Income Tax Act, 1961 is
required only if the sale consideration exceeds Rs.5,00,000.