Property: If you are thinking of buying a property, do not understand that only you can become the owner from the registry. The Supreme Court has given an important verdict regarding property registration. The Supreme Court’s decision has shocked both the buyers and real estate agents. In this decision, the court said that only registration of a property is not evidence of ownership. This can prevent cases of fraud related to property, but at the same time buyers will have to be more cautious than before. Before purchasing any property, check whether the entire ownership chain is legal. Take a decision only after watching all the necessary documents.
What did the Supreme Court say?
This case was related to a land in Telangana. In 1982, this land was purchased by a cooperative housing society without a registered agreement. Later the society sold this land forward. Later those who bought this land claimed in the court that they are its owners because they have registered papers and also occupied the land. But the Supreme Court said that if the Basic Cell Agreement is not registered, then later registration or possession cannot prove to be ownership.
Why is it not only enough registration?
If the person from whom you have bought the property, do not have the right paper or its ownership is not legally sure, then your registry will not be considered enough. That is, it is no longer safe to buy property by relying on registration.
The Supreme Court wants to ensure that the entire property transaction chain is legal. Therefore, now with registration, other documents will also be necessary.
Document required to prove ownership
Sale Deed – This is the most important document of the property cell.
Title deed-It is clearly written who is the owner of the property.
Mutation Certificate – This is proof of name transfer in local records.
Encombrence Certificate – It shows that there is no loan or legal hassle on the property.
Property Tax Receipt – It shows that the owner of the property is paying tax.
Physical letter – It states that the owner has actually taken possession of the property.
A will or gift deed – If the property is inherited, these documents are necessary.
What is the purpose of registration?
Registration creates a government record of property transactions, which increases transparency and prevents future quarrels. This makes tax collection ease and these documents remain safe. This reduces the chances of fraud.
What will be the effect of this decision?
Buyers have to be more cautious. They should not be satisfied just by seeing the registry. Real estate agents have to strengthen documentation. Legal processes can be long and expensive, but these decisions will make the property purchase and transparent. It will take some time and money, but can save from great troubles in future.
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