Supreme Court Property Verdict: If you are thinking of buying a property, then the latest decision of the Supreme Court may be important for you. The court has clarified that only registered cell deed does not mean that your legal ownership has been proved on the property. Registration is only a record of transactions, not confirmation of ownership.
What is the whole matter
This comment from the Supreme Court came in a case related to Bhavna Cooperative Housing Society, which claimed to buy 53 acres of land in 1982. Later, a part of this land was sold to many buyers like Mahnur Fatima Imran. Everyone had registered deeds, but the court raised the question whether the ownership of this land had really or not.
Why is the registry not enough?
Registered cell deed only means that the purchase and sale of property has been officially recorded. But if the person from whom you bought the property, did not already have a clear and valid ownership, then despite the registry you will not be considered a legal owner. That is, to be registered is a process to be registered, but more documents are necessary to prove ownership.
What is the importance of the registry?
The purpose of the registry is to ensure that a property transaction has been recorded in the government records. This provides authentic evidence of the document in the future in future. Registry helps the government to collect tax and prevents fake claims by making duplicate records.
What will be the effect of the decision
This decision of the Supreme Court may lead to a big change in the real estate sector. Now only registration of land will not be considered ownership. Developers have to prove that they have a clear and dispute-free title, and there is no other claim or pending case on the property.
This also means that giving confusing or incomplete information to buyers will now be risky for developers. Transparency and clarity will be compulsory before every deal.
Buyers will have to take care
Now it has become necessary for those who buy home or land not to rely on registered cell deed. It is necessary to conduct a legal examination of the entire documents, especially when a lifetime of capital is being invested.
Customers taking loans from the bank may get some help as banks themselves examine property documents. Nevertheless, it would be better to get a lawyer done privately.
Be sure to see these documents before purchase:
- title deeds
- Previous Cell Deed (if any)
- Physical letter and allotment letter
- Wage (if property is inherited)
- Property tax receipts
Of course checking these documents can make the process of purchasing a house or land long. However, this can prevent fraud, legal disputes and losses in the future.
Also read: Land Acquisition Rules: Government can take your land without consent? What are your legal and constitutional rights