Know the difference between property registration and property possession at Vakilsearch. Understand the legal aspects and rights associated with both in India.
Overview on Property Registration and Property Possession
In India, owning property is often considered a symbol of stability and security. However, property ownership comes with certain legal obligations and responsibilities. It is crucial to understand the difference between property registration and possession to ensure a smooth and hassle-free ownership experience. Property Registration vs Property Possession: What’s the Difference
Property registration refers to the legal process of recording a property transaction in the government’s land records. This process is mandatory under the Registration Act, of 1908, and serves as proof of ownership over the property. A registered property is considered legally valid, and it ensures that the property’s ownership is transparent and clear. Property registration is also important for obtaining a loan against the property, claiming tax benefits, and for other legal purposes.
Property possession refers to the actual physical control and occupation of the property. It implies that the owner or the authorized occupant has the right to use the property for their personal or commercial purposes. Property possession also comes with certain legal rights and responsibilities, such as maintaining the property and paying property taxes.
Difference Between Property Registration and Property Possession
The primary difference between property registration and possession is that the former establishes ownership rights over the property, whereas the latter refers to the physical control and occupation of the property. Property registration provides legal validity and transparency to the ownership of the property, while possession ensures that the owner or authorized occupant has the right to use the property for their purposes.
Eligibility Criteria for Property Registration and Possession
Eligibility for Property Registration
To be eligible for property registration, the buyer must fulfil certain requirements and follow the legal procedures set by the state government. The following are some of the eligibility criteria for property registration:
Legal Age: The buyer must be of legal age, which varies between 18 to 21 years, depending on the state laws.
Legal Capacity: The buyer must have the legal capacity to enter into a contract, which means they must not be disqualified by law, of unsound mind, or bankrupt.
No Pending Dues: The buyer must not have any pending dues or legal disputes related to the property, such as unpaid taxes or pending litigation.
Adequate Funds: The buyer must have adequate funds to purchase the property and pay the associated fees, such as stamp duty, registration fees, and legal charges.
Required Documents: The buyer must provide all the necessary documents, such as proof of identity, address, and income, as well as the property documents, such as the sale deed and title deed.
Eligibility for Property Possession
To be eligible for property possession, the buyer must have completed the necessary legal procedures, such as property registration, and obtained the physical possession of the property. The following are some of the eligibility criteria for property possession:
Completed Legal Procedures: The buyer must have completed all the legal procedures required for property ownership, such as property registration, payment of stamp duty and registration fees, and obtaining the necessary documents.
Full Payment: The buyer must have paid the full purchase price of the property, including any outstanding dues, such as taxes, maintenance charges, or society fees.
No Pending Disputes: The buyer must not have any pending legal disputes related to the property, such as litigation or pending dues.
No Encumbrances: The property must not have any encumbrances, such as mortgages, liens, or easements, that could affect the buyer’s possession or use of the property.
Vacant Possession: The seller must hand over vacant possession of the property to the buyer, which means the property must be free from any occupants or tenants.
Legal Aspects and Rights Associated with Property Registration
Property registration is a legal requirement under the Registration Act, 1908, and it serves as proof of ownership over the property. A registered property is considered legally valid, and it ensures that the property’s ownership is transparent and clear. Property registration also protects the owner’s rights in case of any disputes or legal issues.
Legal Aspects and Rights Associated with Property Possession
Property possession comes with certain legal rights and responsibilities. The owner or authorized occupant has the right to use the property for personal or commercial purposes. Property possession also entails certain responsibilities, such as maintaining the property, paying property taxes, and complying with local laws and regulations.
Importance of Having Both Property Registration and Possession
Having both property registration and possession in place is crucial for a hassle-free property ownership experience. Property registration establishes ownership rights over the property and protects the owner’s rights in case of any legal disputes. Property possession, on the other hand, ensures that the owner or authorized occupant has the right to use the property for their purposes and fulfil their legal responsibilities.
Conclusion
Understanding the difference between property registration and possession is crucial for a hassle-free property ownership experience in India. Property registration establishes ownership rights over the property and provides legal validity and transparency, while possession ensures that the owner or authorized occupant has the right to use the property for their purposes and fulfill their legal responsibilities. It is essential to have both property registration and possession in place to avoid any legal disputes or issues and enjoy a smooth property ownership experience.
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