Advocate S Selvakumar|Property advocates in Bangalore|Property lawyers in Bangalore
Ownership
over the immovable property won't be given by mere execution of the sale deed
in favor of the client. There are several different formalities
needed to be completed when the acquisition. Such post registration
formalities, succeeding the registration of the sale deed has been mentioned
below:
1. Obtain
original documents of title from the vendor so as to match and ensure an
equivalent with the copies and also the same must be scrutinized by the
purchaser's Advocate. When thorough scrutiny by the advocate and if more
original documents are necessary, it's recommended to confirm the assembly of
such documents in originals solely. If you're availing housing finance, then
you've got to use for the certified copy of your sale deed within the involved
territorial Sub-Registrar workplace.
2. Apply for
the most recent and updated encumbrance certificate within the involved
Sub-Registrar workplace. It’s also necessary to verify whether or not such
Encumbrance certificate reflects the execution of sale deed in favor of the
client in conjunction with the small print relating to the date, number and
conjointly the name of the parties to the deed.
3.
Possession of property is very necessary. The vendor ought to fork out the
vacant possession of the property to the client. So as to confirm that the
vendor is in possession of the property, the client ought to examine the
property each day before the registration. If the vendor is in physical possession
of the property then returning the vacant possession of an equivalent is
incredibly straightforward. On the opposite hand, if the property is in
occupation of the tenants, it's important to confirm that the tenant’s are vacated before registration. However, the very fact that the vendor is
in physical or ownership, must be clearly incorporated within the sale
agreement. As per the terms of sale agreement, the client ought to receive all
the keys of the property at the time of registration. If doable, main door lock
are often replaced with the new lock. Just in case the property sent to the
purchaser could be a vacant website, it's necessary to place display panel with
the wordings “This property is in hand by ‘X’ trespassers are going to be
prosecuted”. Further, fencing around such sites or constructing compound wall,
tho' expensive, is desirable. Periodical visits to the positioning also are
recommended so as to sight encroachment over the site, if any.
Consent Letter
The client
ought to verify that each one the taxes, statutory payments in respect of the
property together with power, water charges are paid up-to-date by
the vendor. Further, the purchaser should collect all the receipts for the
statutory payments and may conjointly verify at the involved offices, whether
or not there are any arrears are there or not. Power and water
system agencies collect deposits from the customers before providing services.
So as to transfer such deposit within the name of the client, consent letter
from the seller must be obtained from the seller.
Registration of Khatha:
Khatha
Certificate and Khatha Extract are one among the obligatory and necessary documents to prove this possession of the client over the property when
execution of the sale deed. Client should make sure that the Khatha within the
records of the native bodies, gram Panchayath or the town corporation is
transferred to his name.
Both the
vendor and client have to be compelled to sign the appliance for transfer of
Khatha, that is better if done at the same time whereas language the sale deed
so as to avoid any future disputes. Application for Transfer of Khatha must be
punctually crammed in conjunction with copy of the sale deed enclosed and also
the same must be submitted before the involved authority and to get
acknowledgement thereto impact. just in case of the property falling inside the
boundaries of BMP, then applications for Khatha transfer could also be filed in
any of the subject service centers or any of the 30 revenue offices in
conjunction with the documents mentioned in Sarala Khatha scheme Book.
Documents needed to be created includes Mother Deed, sale deed, National
Savings Certificate of Rs.200, sketch showing the positioning details and
Betterment charges paid receipt. If the Khatha must be transferred within the
name of 1 of the co-owners, then No Objection legal instrument declaring that
they are doing not have any objection for transfer of khatha within the name of
the mortal, punctually sworn before the official by the remaining co-owners,
must be submitted along with the appliance for transfer of khatha and different
needed documents.
Sarala
Khatha scheme Book, introduced by BMP, provides all the small print concerning
the services of the Revenue Department, documents to be filed, fees needed to
be paid, operating hours and conjointly rates for assessment of land tax
underneath the Self-Assessment scheme.
For transfer
of Khatha within the name of the client, transfer fee are going to be collected
and later written confirmation of such transfer endorsement are going to be
issued within the name of the client. Throughout the method of transferring Khatha, the property is once more re-assessed on the idea of revised property
taxes, if any, so issue assessment notice within the name of the client. It’s
important that the tax paid receipt ought to be within the name of the
new/present owner.
Khatha Extract:
After issue
Khatha Endorsement, we've to use for computerized Khatha Certificate and Khatha
Extract. Khatha Extract reflects the name of this Owner, assessment details,
sital space and designed up space.
CMC Khatha:
If the
property has falling underneath the CMC jurisdiction, Khatha Endorsement is
issued within the name of this Owner. Town Municipal Councils (CMC) was issue
type No.19, CMC Khatha within the name of this Owner. Now-a-days type No.III
Khatha is being issued to the properties falling inside the boundaries of CMC
since issue of type No.19 has been stopped from 29/05/2003.
The
properties falling inside the limits of Village Panchayath, Form No.9 and ten
is issued within the name of this Owner that refers to Assessment Order and
Assessment Extract.
Transfer of Electricity offer
After the
Municipal authorities transfer the Khatha within the name of the owner, meter
and meter put in are needed to be transferred in their name. You’ve
got to submit the required application along with the deposit transfer letter
issued by the previous owner. When completion of all the formalities, water and
electricity authority can change this owner name in their records. The
authorities can issue written confirmation of transfer and lift the bills
within the name of this owner. This may facilitate the owner to verify and
check up their electricity and water bills to be raised in future. Annual land
tax and periodical Encumbrance Certificate must be often obtained a minimum of
once a year.
After
completion of all the post registration formalities, absolute title, right over
the property are going to be given to the client thereby enabling the client to
relish the peaceful and uninterrupted possession of the property.
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