Can I sell an unregistered property?
If you are looking to sell your property which is currently unregistered, you will need to produce your original deeds which prove your ownership. These can sometimes be held by lenders if the property has ever been subject to a mortgage.
How do you sell a house without registration?
Without registration, a buyer has no legal right over the property so, one cannot sell it to anyone under the Transfer of Property Rights Act. Section 17 of the Registration Act, 1908, mandates that documents of immovable property need to be compulsorily registered.
Can you transfer property without registration?
Section 17 of the Registration Act, 1908, mandates that transfer of an immoveable property should be registered, failing which it would become invalid. However, one can gift moveable property such as jewellery or car without any registration.
Is sale deed without registration valid?
Sale Deed is invalid if not registered. But on the basis of long peaceful possession, ownership in the property is valid. In your case, it is evasion of stamp duty. If any time question will arise, to get it registered, you have to pay the stamp duty on present value.
How do I sell unregistered property?
To sell an unregistered property you need to produce the physical title deeds. These are then handed over to the buyer’s conveyancer following the sale, who will then submit an application for registration.
What happens if a property isnt registered?
If a property is unregistered it can be hard to find the legal owners as there is no central record of ownership to search. … If a property is not registered at the Land Registry when a sale is completed, the law requires that it must be registered on completion of the sale of the property by the purchaser.
What documents are required for property transfer?
Checklist of Property Documents
- Sale Deed/Title deed /Mother deed/Conveyance Deed. …
- RTC Extracts. …
- Katha Certificate and Extracts. …
- Mutation Register Extracts. …
- Joint Development Agreement. …
- General Power of Attorney. …
- Building plan sanctioned by the Statutory Authority.
How do I transfer property to a family member?
Before you can transfer property ownership to someone else, you’ll need to complete the following.
- Identify the donee or recipient.
- Discuss terms and conditions with that person.
- Complete a change of ownership form.
- Change the title on the deed.
- Hire a real estate attorney to prepare the deed.
- Notarize and file the deed.
Is an unregistered agreement valid?
Validity of the Unregistered Sale Agreement. Unregistered Sale Agreement is enforceable in Law, and any shortage of stamp charges can be paid through the Court’s order. Such an agreement will be valid for three years from the execution date.
Is unregistered document valid?
A document required to be registered, if unregistered is not admissible into evidence under Section 49 of the Registration Act. Such unregistered document can however be used as an evidence of collateral purpose as provided in the proviso to Section 49 of the Registration Act.
Is sale deed same as registration?
Sale agreement and Sale deed are two such important documents. The distinction between these two documents is not widely known and both are regarded as synonymous.
Property Sale Agreement Vs Sale Deed.
|Sale Agreement||Absolute Sale Deed|
|It is also called as ‘Bayana’ (advance)||It is also referred to as ‘Registry’.|