Often people think that they became its owner only by taking possession of a property or paying the price. But this is a big misunderstanding. It is not just enough to have possession to get Property Ownesip Rights, and this has been cleared by the Supreme Court, the Supreme Court of the country itself in one of its important decisions.
What did the Supreme Court say on ownership?
The Supreme Court has clarified that it does not make you the legal owner to pay the price of a property and to hold on it. Real and legal ownership is transferred only when the purchase and sale of that property Sale deed registration To be done That is, until the sale deed (sales letter) is not registered, you will not be legally considered the owner of that property, even if you have given full price and the property is in your possession.
According to the rules, the sale of any immovable property worth more than Rs 100 is considered valid only through a registered document. The court has emphasized this rule.
Which law was given?
While reciting this decision, the bench of Supreme Court Decision Transfer of Property Act, 1882 (Transfer of Property Act, 1882) Referring to Section 54 of K, which clearly states that the ownership of real estate cannot be transferred without a registered document.
What will be the effect of this decision?
This decision of the Supreme Court will curb the methods where people used to avoid registration by transacting the property only through the Agreement to Sell or Power of Attorney-POA. Especially property dealers and middlemen who often used these methods will now get a shock. It is now clear that registration is mandatory for legal ownership. This decision also goes in favor of the buyers, especially in the auction of the property, who get a clear title.
Supreme Court’s important view on the acquisition of private property
It is also necessary to know here that apart from ownership, the Supreme Court Private Property Acquisition rules of private property An important decision was also given in the case of. A bench headed by the Chief Justice of India (CJI) had said that the state government cannot acquire everyone’s personal property. The government can only acquire the properties that are necessary for a public purpose or well -being of a particular community, and the government will have to give a clear reason for this. The decision limited the government’s acquisition powers and strengthened the property rights of the citizens.
The post is not enough possession! Supreme Court’s big decision: Registration is mandatory to become the owner of property, know the whole thing is first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
