{"id":54396,"date":"2023-04-04T15:55:27","date_gmt":"2023-04-04T10:25:27","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=54396"},"modified":"2023-07-15T14:02:50","modified_gmt":"2023-07-15T08:32:50","slug":"which-registration-is-required-to-sell-a-property","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/which-registration-is-required-to-sell-a-property\/","title":{"rendered":"Which Registration Is Required To Sell Property?"},"content":{"rendered":"\n<p>When a person is in the process of buying a property in a preferred location in India, the next most important step after choosing his\/her dream home is to register the property in his\/her name. The registration of the property is compulsory as per Section 17 of <strong>the Indian Registration Act 1908<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/www.indiacode.nic.in\/bitstream\/123456789\/13236\/1\/the_registration_act%2C_1908.pdf\"><strong>[1]<\/strong><\/a><\/sup>, which guarantees ownership of it, whereby you become the authorised owner of the property in the eyes of the law. In the event that any person neglects to register the property in his name, the seller from whom he purchased the property will be deemed to be the legal owner, and any interests, rights, bills, etc. will be in the name of the seller for selling a property.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/which-registration-is-required-to-sell-a-property\/#The_Transfer_of_Property_Act_1882\" >The Transfer of Property Act, 1882<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/which-registration-is-required-to-sell-a-property\/#Which_Registration_Is_Required_To_Sell_The_Property\" >Which Registration Is Required To Sell The Property?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/which-registration-is-required-to-sell-a-property\/#What_Are_The_Property_Registration_Procedures\" >What Are The Property Registration\nProcedures?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/which-registration-is-required-to-sell-a-property\/#What_Is_The_Statute_Of_Limitations_For_Property_Registration\" >What Is The Statute Of Limitations\nFor Property Registration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/which-registration-is-required-to-sell-a-property\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Transfer_of_Property_Act_1882\"><\/span>The Transfer of Property Act, 1882<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Sale\n\u2013 Definition:<\/strong><\/p>\n\n\n\n<p>According\nto Section 54 of the Transfer of Property Act, 1882, the sale of a transfer\nrefers to &#8220;the ownership in exchange for a price paid or promised or\npart-paid and part-promised. Basically, in a sale, there exists an absolute\ntransfer of all rights in the property sold&#8221;.<\/p>\n\n\n\n<p><strong>Property\nCan Be Sold In Two Ways:<\/strong><\/p>\n\n\n\n<ul>\n<li>When the value\nof the tangible immovable property is Rs 100 or more, or in the case of a\nreversion or any other intangible thing, the sale is possible only through a\nregistered instrument.<\/li>\n\n\n\n<li>When the value\nof the immovable property is less than Rs 100, sales can be made through the\nhandover of possession.<\/li>\n<\/ul>\n\n\n\n<p><strong>Delivery\nof Immovable Property:<\/strong><\/p>\n\n\n\n<ul>\n<li>The delivery of\nimmovable property is said to be completed when the seller hands over\npossession of the property to the buyer or the person who directs him for selling\na property.<\/li>\n<\/ul>\n\n\n\n<p><strong>Contract\nof Sale of Immovable Property:<\/strong><\/p>\n\n\n\n<ul>\n<li>A contract for\nthe Selling a property or the sale of immovable property is a contract in which\nsuch property is sold on terms to be settled between the parties. It does not,\nby itself, create any interest in or charge a fee for such property.<\/li>\n\n\n\n<li>To solve\nproperty-related issues and understand the complexity of the matter, it is\nalways best to consult a lawyer, who can guide you through the process in\ndetail.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_Registration_Is_Required_To_Sell_The_Property\"><\/span>Which Registration Is Required To Sell The Property?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Selling a property is a complex process that\nrequires compliance with legal requirements such as registration. Registration\nof the sale of real estate is mandatory, as it protects the interests of both\nthe buyer and the seller. In India, the registration of real estate sales is\nsubject to the Registration Act of 1908<strong>.<\/strong>\nIn this article, we will discuss the provisions involved in the registration\nprocess and the importance of registration from the perspective of the law.<\/p>\n\n\n\n<p>The Registration Act of 1908 established the legal\nframework for the registration for selling a property in India. According to\nthis Act, every transfer of immovable property for selling a property,\nincluding gift deeds, rents, mortgages, and bills of sale, must be registered.\nThe registration process is designed to ensure that the transaction is genuine\nand that the parties involved have clear title to the property. By registering\nthe sale of a property, the buyer can be sure that they are purchasing a\nproperty that is free of any impediments.<\/p>\n\n\n\n<p>To sign up for the Selling a property, you have to\ngo through a few steps in the registration process. The first step is to obtain\nthe deed of sale from the seller. A deed of sale is a legal document that\ncontains the details of the sale, including the location, size, and value of\nthe property, the buyer&#8217;s name and address, and the seller&#8217;s name and address.\nOnce the deed of sale is obtained, the buyer must stamp it according to the\nstamp tax value of the property. The state government determines the amount of\nstamp duty for the property, and it varies from state to state.<\/p>\n\n\n\n<p>After the deed of sale is stamped, the seller and\nbuyer must appear before the sub-registrar for confirmation. The sub-registrar\nwill verify the validity of the deed of sale and ensure that all necessary\ndocuments are available for selling a property. Buyer and Seller must provide\nID proof, proof of address, and photographs to the Sub-registrar. The\nsub-registrar will then check if the property is free of any encumbrances such\nas mortgages, liens, or disputes. Once satisfied, the sub-registrar will\nregister the deed of sale and provide the registration number.<\/p>\n\n\n\n<p>The registration process is not complete until the\nbuyer receives a certified copy of the sales contract for selling a property.\nThis certified copy is proof of ownership and must be kept in a safe place. The\ncertified copy contains the details of the property, the name of the owner, and\nthe registration number. The buyer must also obtain a No Objection Certificate\n(NOC) from the seller. This certificate confirms that the seller has no\nobjection to the sale and that the property is free of any encumbrances.<\/p>\n\n\n\n<p>Recording selling a property or a real estate sale\nis important from a legal perspective. The law recognises and defends\nregistered property, and owners have legal rights over it. Registered property\ncannot be sold without the consent of the buyer, and the buyer cannot be\nevicted from the property without due process. If a dispute arises, the\nregistered deed of sale serves as proof of ownership and can be presented in\ncourt as proof of ownership.<\/p>\n\n\n\n<p>If a property sale is not registered, it is\nconsidered an unregistered sale, and the buyer has no legal rights over the\nproperty. The seller can sell the property to another person without the\nconsent of the buyer, and the buyer cannot claim ownership of the property in\ncourt. In an unregistered sale, the seller can also deny selling the property, and\nthe buyer has no legal right to a refund.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Property_Registration_Procedures\"><\/span>What Are The Property Registration\nProcedures?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The\nregistration process for selling a property, which takes place in the presence\nof the property owner and two witnesses with the following required documents:<\/p>\n\n\n\n<ul>\n<li>Proof of\nidentity for both the seller and the buyer, for example, an Adar card, PAN\ncard, or driver&#8217;s license.<\/li>\n\n\n\n<li>Two copies of\nthe original sales contract. The document must be printed on one side.<\/li>\n\n\n\n<li>Evidence of\nduly paid registration fees.<\/li>\n\n\n\n<li>Proof of duly\npaid stamp tax.<\/li>\n\n\n\n<li>Plan\ncertificate.<\/li>\n\n\n\n<li>If the property\nis secondary property, a tax certificate is required.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Is_The_Statute_Of_Limitations_For_Property_Registration\"><\/span>What Is The Statute Of Limitations\nFor Property Registration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per Section 23 of the Indian Registration Act, 1908 the <strong><a href=\"https:\/\/corpbiz.io\/property-registration\">registration of property<\/a><\/strong> must be done within 4 months from the date of execution.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In conclusion, registration is mandatory for selling a property in India. The registration process is designed to ensure that the transaction is genuine and that both the buyer and seller have legal rights over the property. Registration of real estate sales is governed by the Registration Act of 1908, and the process involves several steps, including sealing, verification, registration, and the issuance of a certified copy. Registered property is recognised and protected by law, and the buyer has legal rights over the property, while selling unregistered property is illegal, and the buyer has no legal rights over the property.<\/p>\n\n\n\n<p><strong>Also Read<\/strong>:<br><a href=\"https:\/\/corpbiz.io\/learning\/guide-on-rera-registration-for-real-estate-agents\/\">Guide On RERA Registration For Real Estate Agents<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When a person is in the process of buying a property in a preferred location in India, the next most important step after choosing his\/her dream home is to register the property in his\/her name. The registration of the property is compulsory as per Section 17 of the Indian Registration Act 1908[1], which guarantees ownership [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":54402,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3355],"tags":[3381],"acf":{"service_id":"220"},"authorName":"Anju S Nair","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2023\/04\/MicrosoftTeams-image-35.jpg","authorDescription":"Anju S Nair is a final year law student at Al-Azhar Law College, Kerala. She was post graduated in English Language and Literature from Mahatma Gandhi University. She was awarded the Certificate of Achievement in Women's Leadership from Career Development College in London. She worked as a research intern at the All India Human Rights Association (AIHRA) and as a legal intern at the Chambers of Senior Advocate Pradeep Rai, Vice President of the Supreme Court Bar Association. She is a hardworking and dedicated person whose area of interest lies in corporate law.","postViews":3463,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/54396"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=54396"}],"version-history":[{"count":4,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/54396\/revisions"}],"predecessor-version":[{"id":58815,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/54396\/revisions\/58815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/54402"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=54396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=54396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=54396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}