Kachwala Misar & Co.

 Rakesh

 18 Years Exp

 Land and Property Transfer (Show More)

 Mumbai , Kalbadevi

 View Answers by this Partner (5)

 Profile Views : 18164

Information


Overview

"The process of transferring title in India can be quite cumbersome especially if the paperwork is not in order as it will involve several court matters,"

Propertified provides legal services for Non Resident Indians (NRIs.) for transferring their properties. As per legal requirement, a Will is not required to be registered. It can just be written on a plain piece of paper. However, registration makes it a valid document that can be presented in the court.

In the absence of a Will, the heirs would need to obtain a Succession certificate from the court. The heirs will have to submit various documents such as death certificate of the deceased, the birth certificate of the heirs, copy of the ration card, bank statement of the heirs etc. These documents are needed to prove that the heirs are indeed the rightful successors.

Original purchase deed of property and registration documents In case of old properties, the original purchase deed may not be available. In such cases, you would need to procure certified copies of the title deed from the jurisdictional registrar's office.

The Encumbrance Certificate records and reflects all the transactions occurred in respect of an immovable property be it a sale, lease, mortgage, gift, partition, release, etc.

Khata is a record that shows the entry of the property owners details in the records of the Corporation/Municipality. It contains details such as name of property owner, type of property, property taxes paid/ payable etc. It is basically an evidence of who owns and possesses the property concerned.

How is Khata different from the property registration? The registration document shows the purchase or sale of the property from one owner to another with various rights thereon, whereas the Khata shows the annual property taxes paid. Ideally, when registration of a property changes, automatically the Khata should also be changed in the municipal records. Unfortunately, that automatic process does not happen and Khata must be transferred separately.

Transfer of title can be done through mutation of revenue records/ transfer of Khata. Mutation of revenue records means updating the details of new owner of the property in the books of the respective development authority, that is, either the municipal corporation or the village panchayat.

In order to do this, you must submit all the documents mentioned above to the authority.

While the transfer must be effected locally, that is, within India and within the same jurisdiction where the immovable property is situated, it can be executed by an NRI using a Power of Attorney (PoA). For the succession certificate too, the NRI can have someone represent him/her through the PoA.

Transfer of title can be done through mutation of revenue records/ transfer of Khata. Mutation of revenue records means updating the details of new owner of the property in the books of the respective development authority, that is, either the municipal corporation or the village panchayat.

The NRI can issue a PoA in favor of a local representative, authorizing such person to do certain specified and incidental acts/deeds and things. Such PoA should be duly notarized by an attorney in the country of the NRI's residence followed by attestation at the nearest Indian consulate in that country. This must be handled by the NRI in his country of residence.

Next, the PoA needs to be registered in India (via adjudication process) by paying requisite fees/stamp duty to the Department of Stamps and Registration. This can be handled by the PoA holder."


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Name : Rakesh

Law Firm Name : Kachwala Misar & Co.

Country : India

City : Mumbai

State : MAHARASHTRA

Practicing Since: 2007

About Your Firm : We are a solicitor firm having practice domain of Arbitration, Civil, RERA, NCLT, property, Testamentary, Society, Revenue, drafting, documentation and Conveyancing.

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  Legal Opinion/Title Certification ( Commercial complex )
  Agreements/Deeds(Bulk) ( Memorandum of Understanding )
  Agreements/Deeds(Bulk) ( Joint Development Agreement )
  Agreements/Deeds(Bulk) ( Agreement of Sale )
  Agreements/Deeds(Bulk) ( Agreement of Sale with GPA & Possession )
  Agreements/Deeds(Bulk) ( Sale Deed )
  Power of Attorneys ( Drafting General Power of Attorney )
  Power of Attorneys ( Drafting Special Power of Attorney )
  Legal Opinion/Title Certification ( Apartment/Builder Floor )
  Legal Opinion/Title Certification ( Residential Layout )
  Legal Opinion/Title Certification ( Villa Project )

 Legal & Drafting

  Registration Assistance ( Independent House )
  Consultation on Property ( Property Selling )
  Packages ( Sale Agreement to Registration (Plot/Site) )
  Agreements/Deeds ( Sale Agreement/Deed Review )
  Registration Assistance ( Commercial Property )
  Power of Attorneys ( General Power of Attorney )
  Packages ( Sale Agreement to Registration (Apartment) )
  Agreements/Deeds ( Rectification Deed )
  Lease/Rental Agreements ( Apartment Rental Agreement )
  Power of Attorneys ( Special Power of Attorney )
  Packages ( Legal Opinion to Registration (Apartment) )
  Agreements/Deeds ( Relinquishment deed )
  Lease/Rental Agreements ( House Rental agreement )
  Power of Attorneys ( Revoke/cancel Power of Attorney )
  Legal Opinion (Written) ( Plots )
  Agreements/Deeds ( Exchange Deed )
  Lease/Rental Agreements ( Commercial Office Rental Agreement )
  Wills ( Make A will )
  Legal Opinion (Written) ( Apartment )
  Agreements/Deeds ( Release Deed )
  Lease/Rental Agreements ( Commercial Shop Rental Agreement )
  Wills ( Make A Codicil )
  Legal Opinion (Written) ( Villas )
  Agreements/Deeds ( Partition Deed )
  Lease/Rental Agreements ( Commercial Lease Agreement )
  Notary & Attestation Services ( Get A Document Notarised )
  Legal Opinion (Written) ( Independent House )
  Agreements/Deeds ( Memorandum of Understanding )
  Lease/Rental Agreements ( Residential Lease Agreement )
  Affidavits ( Personal Affidavits )
  Legal Opinion (Written) ( Commercial Property )
  Agreements/Deeds ( Joint Development Agreement )
  Lease/Rental Agreements ( Car Parking Agreement )
  Affidavits ( Passport Affidavits )
  Agreements/Deeds ( Agreement of Sale )
  Registration Assistance ( Plot )
  Lease/Rental Agreements ( Leave And Licence )
  Affidavits ( General Affidavits )
  Agreements/Deeds ( Sale deed )
  Registration Assistance ( Apartment )
  Consultation on Property ( Property Buying )
  Packages ( Legal Opinion to Registration (Plot/Site) )
  Affidavits ( Other Affidavits )
  Agreements/Deeds ( Gift Deed )

 NRI Services

  Property Search ( Land And Property Search )
  Propert Transfer ( Land and Property Transfer )
  Property Disputes ( Illegal Sale of Land And Property )
  Property Disputes ( Illegal Transfer of Land And Property )
  Landlord Tenant Disputes ( Landlord Tenant Disputes )
  Succession Certificate ( Succession Certificate )
  Buying Selling of Property in India ( Buying/Selling of Property in India )

Subject :  Drafting a Will
Question :  Can i specify an under construction property in the Will? The property will be delivered only after a year. But i want to register the Will now by bequeathing my properties to my son. Is that possible?

Answer by Kachwala Misar & Co. :  Yes. But how do you demonstrate that you have right in the under construction property? I presume that you would have a allotment letter or registered agreement executed by the Builder/Developer in your favour. Please mention the details of the same also in the will.

Subject :  Cost of rental agreement
Question :  What is the total cost of rental agreement including stamp paper for rental in Hebbal apartment and how much time to send

Answer by Kachwala Misar & Co. :  Please share more details rather the ready reckoner rate. Stamp Duty would depend upon the Rent amount, License Period and the Security Deposit and only then the amount payable can be decided

Subject :  Power of attorney of house
Question :  My house is on name of my grandmother. There are no any nominee or will or power of attorney of house. There is only dastaveg of house which is on name of my grandmother. But she is no alive. What is the prosidure to make that property on name of my grandfather. There are no any proof of marriage.

Answer by Kachwala Misar & Co. :  Apply for Succession Certificate or heirship certificate from court.

Subject :  Power of attorney of house
Question :  My house is on name of my grandmother. There are no any nominee or will or power of attorney of house. There is only dastaveg of house which is on name of my grandmother. But she is no alive. What is the prosidure to make that property on name of my grandfather. There are no any proof of marriage.

Answer by Kachwala Misar & Co. :  Apply for Succession Certificate or heirship certificate from court.

Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Kachwala Misar & Co. :  Sir, If your agreement value in the agreement is Rs 36 Lakhs then FIRST buyer will have to show the proof of payment of RS 36 lakhs and SECOND in your books of accounts the income received would be RS 36 lakhs and you will have to pay tax on that. In any case, you can register the property with consideration as Rs 27 lakhs and pay stamp duty on Rs 36 Lakhs.