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Transfer of property

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Documentation for transfer of Immovable Property

In India, transfer of Immovable Property is covered under the Transfer of Property Act, 1882. Transfer of property, especially if it is inherited property, is a long-drawn process involving considerable documentation and legal paperwork. The property in question becomes disputable if the relevant property documents are not in place for the transfer to take place […]

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prop will

Legal Aspects of a ‘Property Will’

A ‘Will,’ as it called in legal terms, has much relevance with regards to property inheritance. It is a legal instrument that thrusts upon a person, called the ‘testator’, the right to decide how his real estate will be managed and entrusted after his death. What is the purpose of a ‘Will’? A ‘will’ serves […]

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Basic regulations, tax implications involved in real estate transactions – Part II

Value Added Tax (VAT) The Value Added Tax (VAT) is a type of indirect tax and is one of the major sources of revenue to the state. The VAT system of taxation was adopted by most of the states in India in the year 2005 by replacing the General Sales Tax Laws with New Value […]

Basic regulations, tax implications involved in real estate transactions – Part I

First time home buyers are mostly unaware of many regulations and processes involved in a real estate transaction. Here is a simple guide to know the basic real estate regulations and tax implications, which are crucial elements for a prospective buyer. Transfer of property ‘Transfer of Property Act’ makes it mandatory for the registration of […]

Essential terms of purchase and sale contracts for immovable property-Part 2

The “transfer of property” means an act by which a living person conveys property, in present or in future, to one or more other living persons. The instrument of sale perfected by execution and registration Deed of Sale. Sale By Section 54 of the Transfer of Property Act 1882, is complete transfer of ownership, no […]

CommonFloor Editorial Team

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