Registration of real-estate forms a significant part of the property buying process. There are a lot of steps involved, but property registration is undoubtedly the most important. Registration ensures the prevention of fraud and provides evidence of rightful ownership. The onus is on the buyer to take extra caution while purchasing any immovable property and be aware of the legal provisions and regulations involved in the process of property registration.
Step 3: The calculation clearly shows the market value derived by adding land cost and structure cost. The duty fees calculated by adding stamp duty, transfer duty and registration fee, shows the total payable amount.
Form 32a land registration doc for governament of andhra pradesh
If the conditions are not met, registration of the document shall be refused. The decision shall be made on the basis of the document itself and the other documents and evidence as are available. If the Registrar sees fit, he may obtain information.
Section 28. If a registered land charge is not intended to attach permanently to the land, the effect of its registration described in sections 20 and 23 shall lapse after thirty years from the registration of the charge, unless it has been registered anew prior to the expiry of this time limit.
Section 38. The Ministry may issue further regulations on how the journal, Land Register and Register of Mortgaged Moveable Property shall be organized and kept, and registration procedure in general. Similarly, regulations may be issued on how documents should be written to be officially registered, including approval of forms for specific types of documents and the use of approved forms.
The owner of a property may execute a GPA, in favour of a family member, relative or trusted friend to manage or sell his property, in case he is not able to manage the property or execute the sale, personally due to any reason. A person may also enter into a development agreement with a land developer or builder for developing the land either by forming plots or by constructing apartment buildings and in that regard execute an agreement of sale and grant a power of attorney empowering the developer to execute agreements of sale or conveyances regarding individual plots of land or undivided shares in the land relating to apartments in favour of prospective purchasers. In several States, the execution of such development agreements and powers of attorney are already regulated by law and subjected to specific stamp duty. Here, the important thing to note is that the GPA should not be considered as a transfer instrument of any title, right or interest in any property.
The object and purpose of the Registration Act, 1908("the Act") amongst other things, is toprovide a method of public registration of documents so as to giveinformation to people regarding legal rights and obligationsarising or affecting a particular property, and to perpetuatedocuments which may afterwards be of legal importance, and toprevent fraud1. The Act was enacted with the intentionof providing orderliness, discipline and public notice in regard totransactions relating to immovable property and protection fromforgery of documents of transfer2. To achieve thisobjective, the Act requires compulsory registration of certaintypes of documents and provides consequences for non-registrationof such documents. Given that registration of a document gives adocument a characteristic of inviolability, each State may alsohave different rules with regard to registration, and there may becertain instances especially with regard to the registration of asale deed, where the both parties to a sale deed may be required tobe present at the time of registration of the sale deed.
2ff7e9595c
コメント