Advocate S Selvakumar|Property advocates in Bangalore|Property lawyers in Bangalore
The
documents regarding a property inter alia include title deed, mother deed,
encumbrance certificate, khata, capital levy payment receipts, building arrange
etc. This document is also original or is also extracts or Photostat copies. a
number of these documents square measure within the nature of evidencing
payments, authorization, permission, approval etc. additional usually than not,
you'll be noticing advertisements in news papers concerning the loss of
property documents with a remunerative supply to befittingly reward the finder
upon come back of an equivalent.
Reasons for
non - availableness of property
The reasons
for non-availability of documents is also several. the subsequent square
measure few such instances:
a)The
original title deeds may need been unbroken within the workplace and got needed
with alternative documents. During this case, despite the fact that the first
title isn't lost, it's attributable to the actual fact that the documents
aren't traceable even once search, the need to require more steps for safeguarding
his interest by the owner will arise.
b)The
original title may need been lost, purloined or may need inherit wrong hands.
In such cases, there's each risk of a fallacious group action being settled by
creating use of the first title by the person of such a document unless the
real owner acts fleetly to shield his interest over the documents
c) There are
also some cases whereby someone has encumbered his property by deposit of title
deeds as security for the loan obtained by him. On the idea of an authorized
copy of the title, he could sell his property while not redeeming the mortgage.
In such circumstances, the innocent vendee won't get title over the property
since the mortgage holder incorporates a first charge.
d)The property documents conferred for registration within the Sub- Registrar's
workplace square measure to be collected inside an affordable time however not
later than 2 years since the documents stay uncollected within the Sub-
Registrar's workplace may be weeded out once the lapse of 2 years amount. just
in case someone who did not collect the property document inside a amount of 2
years and also the aforesaid document is weeded out, then the aforesaid person
at the foremost will get a letter from the Sub- Registrar's workplace
confirming the submission of the document for registration and also the same
has been weeded out as per rules since it absolutely was not collected from the
workplace inside the stipulated amount.
Partition Deed
In a
partition of the family properties, if a specific property falls to the share
of quite one person, then all they cannot have the first title of such property
in their custody. Therefore, as a precaution it shall be clearly mentioned
within the partition deed that the first deed shall stay with a specific
individual who shall declare and under- fancy turn out the first deed for
verification whenever requisitioned by alternative sharers of the property. To
be used and custody of persons who don't get possession of the first title,
they will get duplicate copy of the document at the time of registration.
Deed and Documents
To know the
implications of the loss of property documents, it's higher to understand on
what's meant by a deed and what the distinction between a deed and a document
is. A deed may be a writing or instrument below that the correct over a
property is transferred from the transferor to the transferee. It’s going to be
noted that each one deeds square measure documents however all documents aren't
deeds. The word "deed" incorporates a wider that means. It is to be
properly dead, signed and delivered. Normally, it's registered. Examples of
deed would come with sale deed, settlement deed, exchange deed, partition deed,
gift deed, unleash deed, etc. samples of documents aside from deeds would come
with images, maps, building plans, writings on varied materials and substances,
khata, encumbrance certificate, tax paid receipt, unsigned records,
certificates, etc.
Effect of loss of documents
Loss of
original title deeds could result in lots of complications, have an effect on
or impede free dealings with the property inflicting nice anxiety, stress and
apprehension for the one who has lost these documents. Loss of title reduces
the strength of possession title of the owner. The intending vendee or the
mortgage holder could suspect the genuineness of the title of the seller or mortgagor.
The moot question is 'why do they suspect?' and also the answer to the present
is that the deposit of title deeds doesn't need registration. By mere
depositing the title deeds, someone will produce mortgage of the property to
avail loan from banks and also the monetary establishments. The amount of
redemption of mortgage is thirty years.
Suppose
someone purchases a property for a valuable sale thought ignoring that the
seller doesn't have original title and suppose at some earlier stage the
property has been encumbered by deposit of the title document by its owner,
then no matter the actual fact the vendee has purchased the property for
valuable thought he won't get rightful possession over the property however,
the mortgage holder incorporates a 1st charge over the property though
possession is modified. In most of the cases, loaning banks do refuse to grant
loan within the absence of original title and also the intending vendee could
back out of the transaction within the absence of the first title.
It is
obvious that in most of the cases folks would become nervous once they lose
their property documents since they need a sense that their title over the
property is lost forever with the loss of property documents and thereby they
conclude that they need lost their right to traumatize property from now on.
it's the loss of the first deeds like sale deed, gift deed, will, deed etc.,
that may have impact since by virtue of those documents, the finder of the
document could misuse an equivalent. But, loss of document doesn't deprive the
owner of his possession over the property, if necessary precautions square
measure taken well in time. Loss of the first title needs imperative action.
Loss of
documents like encumbrance certificate, Khata certificate, tax paid receipt
etc., doesn't have serious implications since its potential to form up the loss
of those documents by applying and obtaining certificates anew from the
involved authority.
Steps to be taken
In most of
the cases, with a careful timely action and designing, it's potential to shield
interest and title within the very best manner. A sincere effort conjointly
ought to be created to trace out the lost document and to make the records. It’s
going to be noted that if a registered document is lost, then an authorized
copy on an equivalent may well be obtained from the workplace of the involved
Sub-Registrar.
Normally,
altogether cases of loss of property documents, it's the foremost duty of the
owner of the property to give notice the loss of property documents to the
general public and also the involved authorities immediately. The common apply
followed is to give notice the loss of the first deed in 2 leading and wide
circulated news papers, one in English language and also the alternative in
vernacular language requesting the finder of such documents to deliver back the
aforesaid document which can be befittingly rewarded. Lodging a police
grievance and getting acknowledgment from the police is also thought of as
proof for the loss of document.
To avoid
complications by virtue of loss of property documents, the owner of the
property ought to act fleetly and take applicable action to shield his right,
title and possession over the property.
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