6 Interesting Facts on Property Registration You Should Know

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Property purchase and registration involves a lot of finer nuances apart from hunting and finalizing a property. Here are few titbits on registration of a property that you should know.

Personal Appearance A Must

You have to be present when you want to register a sale deed. You can only register a Mortgage Deed without a personal appearance.

Why You Should Register?

As soon as you register a sale deed, it becomes a permanent public record. If a sale deed is not registered then the entire transaction and agreement between the buyer and the seller is null and void.

A Time Frame For Compliance

A document that has been signed has to be registered with 4 months of such execution. If you cannot register an executed document within the time frame, you have to create an execute one afresh. 

Need for a genuine witness

You cannot randomly pick any witness who is not known. There has to be a genuine witness to the transaction. How much of this is followed in spirit and truth is not really known today.

Compliance needed

In certain states permission may be needed if the property to be sold belongs to a SC/ST and the same is being sold to a non SC/ST. So, make sure you are not registering a SC/ST Property without proper compliance.

Do Not undervalue The Property

Under Valuation of Property is an offence, so make sure you do not under value the property.

Read more about: property, property registration
Story first published: Saturday, October 25, 2014, 8:54 [IST]
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