A present deed takes impact upon the fee of stamp responsibility, registration

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Is reward deed sufficient to switch my grandfather’s property to my father?

—Title withheld on request

A present deed is a sound mode of transferring a property, offered it’s duly executed and the transferor is absolutely the authorized proprietor and there aren’t any orders of courtroom or any competent authority which prevents such switch. Such a present deed shall additional document that the reward is duly accepted by your father and your father is put in possession of the property. A present deed takes impact solely upon the fee of requisite stamp responsibility, and after getting the identical registered with the sub-registrar of assurances.

I’m shopping for a resale flat, however as a result of covid-19 the proprietor is just not in a position to come from Dubai, so he’s sending the facility of legal professional (PoA) of his mom, who’s the second proprietor of the flat. Can we do the registration with the PoA?

—Title withheld on request

It will be significant that the PoA is drafted in a way the place it clearly authorizes the PoA holder to execute and register the sale deed. The PoA should additionally specify if the mom can obtain the complete consideration or as per her entitlement.

In your case, because the PoA is made in Dubai, the identical must be executed earlier than the Indian embassy or consulate for requisite attestation with minimal two witnesses to the execution of the identical. The PoA must be stamped inside three months from the date of its receipt in India.

Such a PoA, when introduced for registration in India is a compulsorily registrable doc beneath the Indian Registration Act, 1908. Solely a duly registered PoA is taken into account legitimate on the market of an immovable property in India.

What’s the distinction between holding properties as joint tenants and holding as tenants-in-common? Are these phrases used for owned or rented out properties?

—Jaspreet

The phrases, joint tenants and tenants-in-common, are used for figuring out the kind of possession of the holder of the property. When there are co-owners in an immovable property, the possession can both be on joint tenancy or tenancy-in-common foundation, which is dependent upon the phrases within the buy deed or any legitimate switch doc.

In tenancy-in-common, the house owners could have totally different possession pursuits which could be obtained at totally different occasions, whereas beneath joint tenancy, the house owners typically receive equal shares within the property beneath the identical deed on the similar time.

Below tenants-in-common, upon the loss of life of one of many tenants, the curiosity within the property will devolve in accordance with the Will of the deceased or as per the succession legal guidelines. Whereas, beneath joint tenancy, the curiosity of a deceased proprietor or holder is transferred to the surviving house owners.

Aradhana Bhansali is companion, Rajani Associates. Queries at mintmoney@livemint.com

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