Property registry

Property registry

A Property Registry is the official recording of property ownership in government records. It proves legal ownership and ensures that property transactions are recognized by law. In most countries (like India), property registry is governed by the Registration Act, 1908.

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Overview

Property Registry is the official recording of ownership or transfer of immovable property (land, house, or building) in government records, usually at the Sub-Registrar’s Office. It serves as legal proof of ownership and ensures that property transactions are recognized under law.

Types

  Sale Deed Registration

·         Most common for buying/selling property.

·         Transfers ownership from seller to buyer.

  Gift Deed Registration

·         For gifting property to relatives or others.

  Will or Inheritance Registration

·         Records property transfer after the owner’s death.

  Lease or Rent Agreement Registration

·         For long-term leases (usually >12 months).

Process

Step 1: Draft the Sale Deed

·         A lawyer usually drafts the deed mentioning property details, sale amount, buyer, and seller details.

Step 2: Pay Stamp Duty

·         Stamp duty is a tax paid to the government for property transfer.

·         It varies by state, property type, and property value.

Step 3: Visit Sub-Registrar Office

·         Both buyer and seller (or their authorized representatives) must be present.

·         Submit original documents and ID proofs.

Step 4: Registration

·         The Sub-Registrar verifies documents, identity, and payment of stamp duty.

·         Deed is signed and entered into official records.

Step 5: Get Registered Deed Copy

·         After registration, you receive a Certified Copy of Sale Deed, which is proof of ownership.

Legal Importance

  Proof of Ownership: Only registered property is legally recognized.

  Protection Against Fraud: Prevents illegal sale or duplication of property.

  Bank Loan Eligibility: Banks require registered property for home loans or mortgage.

  Property Sale in Future: Registration is mandatory for resale or transfer.

FAQ

  • Can property be sold without registration?

    No. Sale is not legally valid until registered at the Sub-Registrar Office.

  • Who pays the stamp duty?

    Typically, the buyer pays stamp duty. In some states, cost is shared.

  • Can I register property on a leasehold basis?

    Yes, leasehold properties can be registered, but ownership stays with the original owner, while lease rights transfer to the lessee.

  • Can I register property if I am not physically present?

    Yes, you can authorize someone via power of attorney, but original ID proofs are still required.

  • Can a property be registered online?

    Some states offer online pre-registration or appointment booking, but physical presence is generally needed for signing.