Nowadays registering property is not an easy task. You need to follow various processes to finish your registration. Furthermore, you can safely do those processes at https://www.h3homebuyers.com/sell-my-mobile-home-fast-ohio/. Today in this article we are going to look at the top process involved in registering property.
Property registration process:
According to the Registration Act 1908, Registering a property is mandatory. Without registration, there won’t be any legal evidence to price the land as yours. The legal recording will be evidence to prove the ownership and property rights legally. We will look at some points to remember:
- Buyers need to pay registration costs which will be a percentage of total land costs. The registration charges will vary from place to place.
- While submitting the documents, the stamp duty must be submitted which will usually be 3 to 4 percent of the land saleable value. The registration charges will be 0.5 percent and the saleable value will depend according to the guideline.
- In countries like India senior citizens and women get discounts on stamp duties and registration.
- Documents like sale deed, khata certificate, tax payments bills and receipts, encumbrance certificate, agreement of sale, title document, agreement copies with registration, and power of attorney are required for registering property.
- You need to examine the documents legally which may take 5 to 7 days and need to spend some amount. You can get support from lawyers to ensure the documents are safe.
- A lawyer can help you with safe transactions. The final documents will be created by a lawyer that goes for stamping.
- You need to pay stamp duty in the chosen bank as a buyer. The bank will provide you with a stamp duty receipt attached to the front page of the sales deed.
- The execution of sales deeds happens by signing by the seller, buyer, and two witnesses in the registration office.
Registering the property legally is the evidence to show the land is yours. Without registration, you cannot and should not own a property. You can get help from https://www.h3homebuyers.com/sell-my-mobile-home-fast-ohio/ to sell or buy a property. You can gather more information from the website https://www.h3homebuyers.com/sell-my-mobile-home-fast-ohio/.