Note : 3rd Eye Realtors makes this information available "as is," and does not guarantee its accuracy.
What is freehold Property?

Freehold property are those property, which may be sole in whole are or in part by owner of the property without taking any prior consent from the government authority

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Number of Floors allowed in Delhi?

Basement + Stilt Car Parking + Ground + 3 Floors are allowed (eg Basement + Ground Floor + First Floor + Second Floor + Third Floor + Terrace)

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 Is 4th Floor Allowed at Delhi?

No at present only upto third floor is allowed.

What is Leasehold property?

Leasehold properties are those properties, which have been allotted by the government authority such as land & Development office/Delhi development authority to the allottees. The property so allotted is on perpetual lease basis and cannot be sold on the basis of a sale deed. Any transfer of the leasehold property requires prior permission from the lessor (Government authorities)

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What is sole Ownership?

Co-ownership where a property is owned by two or more person and each of the said person is a Co-owner of the property.

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What is the registered document?

Sale deed, release deed, gift deed, exchange deed, will etc. The sub registers of Assurances where the said documents are registered. On registration, the original Document is returned to the person presenting the said document for registration and a duplicate copy returned by the sub registrar of Assurances.

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What is the clear title?

Clear title implies that the borrowers ownership in the property proposed to be mortgaged is absolute and that the creation of mortgage.

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What is conveyance?

Conveyance records the transfer of interest in immovable property. The conveyance of right, interest and title in the immovable property may take place by way of sale deed, gift deed, exchange deed etc.

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 What is deed?

Deed means a written document?

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What is power of Attorney?

Power of Attorney is a deed/document wherein the owner of property authorizes some other person to manage, look after and supervise the immovable property and the concerned attorney is vested with the right, authorities and legal capacity to sell and transfer the property. There is need to examine the power of attorney on case-to-case basis.

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What is search report or title clearance certificate?

It is a report prepared by the lawyer confirming that the borrower has a clean and marketable title to the property, which is free from prior charge/mortgage etc. The report is to be minutely examined to see whether on the subject property equitable mortgage can be created.

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What is conveyance deed or sale deed?

Conveyance and sale deed essentially have no difference as in both the documents, the right, interest and title of the previous owner is transferred to the purchaser. Ordinarily any conveyance deed is executed, generally by the government agencies, for example, DDA, L&DO, HUDA etc, and the sale deed is executed where the seller and the purchaser are individual/firms/companies other than government companies.

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What is lease deed?

This deed is executed by the lessor i.e. government agencies, for example, DDA, L&DO, Ghaziabad. Development authority, Noida and greater Noida in favour of the lessee, whereby land owned by the lessor is given on lease to the lease. In these cases the First/primary change is of the lessor.

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 What is sub-lease deed?

This deed is executed by the lessor along with a registered co-operative Society in favour of the allottee i.e. sub-lease. This deed is also referred to as a tripartite lease deed as there are three parties to the deed.

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 What is transfer deed?

This deed is executed on subsequent transfer of leasehold property after of lease deed/sublease deed.

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 What is relinquishment/release deed?

Relinquishment/release deed is a one of the modes of transfer of property. By way of relinquishment deed, one or more join owner can give up/relinquish/release his /their share in a immovable property to one or more join owners.

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What is gift deed?

By this deed the owner of property transfer the property by way of gift. Parties to the deed are referred to as the donor and donee, respectively.

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What is exchange deed?

This deed is executed when a property is exchanging in lieu o another property having approximately the same area and market value.

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What is mortgage deed/registered mortgage

This deed is executed in case of mortgage of agricultural property on payment of stamp duty @ 2% of the loan amount sanctioned. Mortgage deed is also executed in those cases where equitable mortgage is not possible as original title document in respect of the property are not available/cannot be submitted with the bank / financial institution. Registered mortgage is created on the basis of a mortgage deed.

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Re-conveyance deed?

This deed is executed by the bank financial institution in favour of the borrower on repayment of the entire loan amount by the borrower. By this deed the ownership of property previously mortgaged with the bank/financial institution is re-conveyance back to the borrower/owner.

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What is Development agreement/collaboration agreement?

Under this agreement, the owner of the property and the builder record their terms and condition connected with the development of the property. Generally, this agreement records the respective share of the builder and the owner in the property.

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What is approved building plan?

The plan sanctioned by the concerned corporation – for example, in Delhi, it is municipal corporation of Delhi, which approved the building plan is respect of the properties falling under its jurisdiction.

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What is completion / occupation certificate?

The concerned municipal corporation issues this certificate, after the construction of the building plan and the building is ready for occupation.

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What is share certificate?

In all cooperative societies, the member are issue share certificate, which is not of the basic title document of the said member.

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What is previous sale deed/ conveyance deed?

When a property change hand says from A to B need to obtain the document of title pertaining to the property, which ought to be in the custody of “A”.

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What is original stamped receipt?

If any amount is pay by way of consideration in a document of conveyance, the seller is supposed to execute a receipt pertaining to the payment made to the seller by the buyer from time to time. Similarly, the society also issues receipt to the allotees in the respect of the payment made for the purchase of the property from the time to time. Again the builder also issue receipt toward payment made by the allottees from time to time, which area generally referred to as original stamp receipt.

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What is mutation?

A) Mutation is a process by which the cooperation records the name of the owner who is liable to pay the property tax in their records. Mutation made by the corporation is not to be construed as an ownership document. B) The mutation, which is made by the government authorities who have allotted the property on leasehold basis, i.e. Delhi development authority, Land & development office etc in the name of the legal heirs of the allottee or on the basis of some court decree is another example of mutation. This is type of mutation records the change in ownership.

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What is permission to mortgage?

Permission to mortgage the property in the favour of bank / financial institution is required in the case of all leasehold property by the lesser i.e. the concerned government authority i.e. NOIDA, Greater Noida, Delhi development authority, L & DO, Ghaziabad development authority etc. as the case may be. However, this permission is also required from HUDA in case of freehold properties owned by HUDA.

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What is probate?

Probate is granted by a court of Law in respect of a will made by the deceased person. Grant of probate establishes the authenticity of the will.

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What is succession certificate?

This certificate is issue by a court of Law i.e. High court / District court, which establishes the ownership of the legal heirs on the demise of the owner of the property, who has died, instate i.e. with out making the will.

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What is Transfer memorandum?

Issue by Noida, Greater Noida and HUDA whereby permission is granted to the present lessee to transfer/ sell the property further.

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What is consolidation?

Arranging the fragmented holding of land in a unit making the holding more compact.

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What is fasli?

Agricultural year beginning every July and ending on 30 th June.

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What is intkal?

Mutation recording change in ownership of land due to transfer by registered deed, inheritance, survivorship, bequest or lease, in the records of rights register of landholders as sanctioned by the revenue officer under his order or decision on a particular date.  

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What is Jamabandi?

It is also called Kistabandi or Khatoni. It is a register maintained in the prescribed from showing the quantity of land held by each cultivator. It is a record of right maintained by Patwari with names of landlord, occupancy tenants and government lease together with survey numbers or plots numbers held by them and their area, classification as irrigated or unirrigated with nature and extant of the respective interest of such person and the condition or liabilities if any respective interest of such person and the conditions or liabilities if any attaching thereto, the rent or land revenue, if any payable by such person, and other particular as may be prescribed.

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What is khasra?

Field book in which Patwari enters from time to time all changes in boundary, etc. of the land. it is a field book of survey and contains names of land holders with the survey numbers of their holding.

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What is khata?

Account book or daybook recordings holding by a tenant.

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What is khatauni?

Register for persons cultivating or otherwise occupying and Type of tenure.

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What is Khewat?

Denotes proprietary land or the land revenue assessed on that Land.

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What is patwari?

Official of the state Governments for the custody and Maintenance of land records. In Uttar Pradesh, patwari is called “lekhpal”.

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What is sajra?

Revenue map maintained by patwari depicting survey Numbers of the land village-wise.

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What is sir?

private land of the proprietor.

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What is partnership?

A business enterprises entered into for profit, which is owned by more than one person, each of who is a “partner”. A partnership ma be created by a formal written agreement, but may be based on an oral agreement or just a handshake. Each partner invests a certain an amount upon percentage of ownership, is responsible for all the debts and contracts of the partnership even though another partner created the management decision, and shares in profits and losses according to the percentage of the total investment.

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What is proprietorship?

A business owned by one person, as distinguished from a partnership or Partnership or corporation.

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What is company?

“company” means a company formed and registered under the Companies Act 1913. (Section-2, clause-2)

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What is private company?

A company which (I) by its articles (a) restricts the rights to transfer its shares; and (b) limits the number of its member (exclusive of persons who are in the employ of the company) to fifty; and (c) prohibits any invitation to the public to subscribe for any shares or debentures of the company; and (||) continues to observe such restrictions, limitations and prohibition. Provided that where two or more persons hold one or more shares in a company jointly they shall, for the purpose of this definition, be considered as a single member, companies Act 1913. (Section-2, clause-13)

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What is public company?

A company whose capital consists of share publicity subscribed.

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What is Limited company?

A company the liability of the members of which for the debts of the company is limited by statue.

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What is Agreement to sell?

An Agreement for transfer of immovable property.

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What is substitution?

Also referred to as “mutation” i.e. change of name in the records whether revenue or municipal.

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What is Notarisation?

“Notary” means a person appointed as such under the Notaries Act, 1952 Functions of notaries are defined under section 8 of the Act, which among others include verification, authentication, certification or attestation of the execution of any instrument.

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What is Instrument?

“Instrument” includes every document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded. Indian stamp Act, section 2(14)

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What is Liability?

“Liability” is responsibility; the state of one who is bound in law and justice to do something or to refrain from doing something.

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What is Succession?

The statutory rules of inheritance of a dead person's estate when the property is not given by the terms of a Will, as governed by the Indian succession Act.

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What is statute?

Signifies an act of the legislature; established by the act of the legislative power. The written will of the legislature, which constitutes the law of the country.

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What is Equitable Mortgage?

Equitable mortgage is created by deposit of title deeds of immovable property (section 58(f) of the Transfer of the property Act 1822).

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What is stamp Duty?

Duty i.e. revenue payable to the government under the India stamp Act, in the form of stamp papers.

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What is Byelaws?

Certain rules, orders, regulations (as distinguished from the general law of the country) which a corporation has a power to make and which is usually exercised to regulate its own actions and concerns, and rights and duties of its members amongst themselves.

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What is Litigation?

Dispute/s referred to a Court of Law.

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 What is Cancellation Deed?

A document / deed whereby a previously executed document is cancelled. By virtue of the cancellation Deed the previous documents ceases to have any effect in law.

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