Ownership over the immovable property won't be given by
mere execution of the sale deed in favor of the client. There square measure
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
square measure 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.
The client ought to verify that each one the taxes,
statutory payments in respect of the property together with power, water
charges square measure 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 square measure 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.
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.
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.
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.
After the Municipal authorities transfer the Khatha
within the name of the owner, meter and meter put in square measure 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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