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12 Feb 2024
A restrictive covenant is an agreement that a seller writes into a buyer’s deed of property that restricts how the buyer may use that property. For example, the seller may want the buyer to leave a building’s original façade intact. As long as they don’t break the law, restrictive covenants can be as specific and arbitrary as the parties are willing to agree to.
09 Feb 2024
The ‘Saat-Baara-Utara’ is the regional term for 7/12 Extract Document in Maharashtra. The document is maintained by the Revenue Department of the state for the purpose of tax collection. It is issued by the Tehsildar or the concerned land authority. It is an important indicator of the legal status and includes information pertaining to the ancestral history of the land, i.e., past disputes, litigations, court orders, etc. For agricultural land, this extracts also records the types of crop grown on the land in the past.
08 Feb 2024
Encroachment occurs when a individual that is not the property owner intrudes on or interferes with the property, e.g. trespassing by way of building something that lays partially on the adjoining property or even by planting a tree with branches that hang over onto the adjoining property. An encroachment creates an encumbrance on both properties until the issue is resolved.
07 Feb 2024
A sale is a complete out-and-out transfer of ownership of a property (with all its rights and liabilities) from one person (or more) to another (or more) in exchange for a consideration, i.e. money. As per Section (17) of the Registration Act 1908 registration of a sale is mandatory when the value of the immoveable property exceeds INR 100/-. If a property is transferred for something other than money, the transaction is referred to as an exchange and not a sale.
07 Feb 2024
A data centre is a physical room, building or facility that houses IT infrastructure for building, running, and delivering applications and services, and for storing and managing the data associated with those applications and services. Data centres have evolved in recent years from privately-owned, tightly-controlled on-premises facilities housing traditional IT infrastructure for the exclusive use of one company, to remote facilities or networks of facilities owned by cloud service providers housing virtualized IT infrastructure for the shared use of multiple companies and customers.
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07 Feb 2024
A data centre is a physical room, building or facility that houses IT infrastructure for building, running, and delivering applications and services, and for storing and managing the data associated with those applications and services. Data centres have evolved in recent years from privately-owned, tightly-controlled on-premises facilities housing traditional IT infrastructure for the exclusive use of one company, to remote facilities or networks of facilities owned by cloud service providers housing virtualized IT infrastructure for the shared use of multiple companies and customers.
06 Feb 2024
As per Section 55 of the Registration Act 1908, four types of indexes are to be made and maintained by the registering officers. Index I & II – these are prepared for the transfer of immovable properties with the use of instruments such as conveyance deed, sale deed, gift deed, leave and license agreement, etc, Index III is prepared for the execution of a Will and Index IV is prepared for other miscellaneous instruments such as documents related to moveable properties.
05 Feb 2024
Title is a legal term that refers to the ownership right to a property. Every property has a title which is created in accordance with the laws relating to immovable property such as Transfer of Properties Act, India Registration Act and Indian Stamp Act. Titles can depict ownership of both personal and real property. Personal Property is anything that does not include real estate such as appliances, furniture, antiques, artwork, etc whereas Real Property includes the physical property of real estate as well as bundle of ownership and usage rights.
02 Feb 2024
An encumbrance is a claim made against a property by someone other than the current title holder. The term encumbrance covers a wide variety of financial and non-financial claims that may or may not affect the value of the property. It is important, from a buyer’s perspective, to be aware of any encumbrances on a property, as these will often transfer to them along with the ownership of the property.
01 Feb 2024
Collector’s Land refers to land belonging to the government that falls under the control of the revenue department and is therefore owned by the City Collector. Collector’s Land is leased out to individuals and / or entities for the purpose of development. Prior permission must be sought from the state to rent, gift, transfer and / or sell properties built on Collector’s Land.
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