NRIs very commonly inherit immovable property from their family or relatives in India. Not knowing the correct procedure for transferring the inherited property into their name can lead to unwanted legal complications and added expenditure. Here are some common FAQs that will help you make a hassle-free transfer of property that you might have recently inherited.
What is the procedure for transfer of property?
The transfer property is done through mutation of revenue records or the transfer of khatha. The mutation of revenue records involves updating the details of the new owner of the property in the record books of the concerned Municipal Corporation or village panchayat.
What documents do I need to apply for a transfer of property?
- Registered Will: Even though it is not mandatory to register a Will, registering a Will makes it a valid legal document. Make sure you have a registered Will to avoid any future complications.
- Succession Certificate: A succession certificate from a competent court is required in the absence of a will. In order to obtain a succession certificate, heirs need to submit the death certificate of the deceased, birth certificates of the heirs, bank statement of the heirs, and a copy of their ration card(s).
- Original Purchase Deed and Registration Documents: Make sure you have the original purchase deed and registration documents. For older properties without original purchase deeds, the heirs need to obtain certified copies of the title deed from the concerned land registrar’s office.
- Encumbrance Certificate: The encumbrance certificate contains records of all the transactions that were made concerning that property i.e., sales, lease, mortgage, gifts, partition, and release. Make sure you have an updated encumbrance certificate.
- Khatha: Khatha bears record of the property owner’s details such as his name, type of property, and taxation records. The khatha reflects the payment of annual property taxes, and differs from the property registration document which shows the sale or purchase of the property.
How can I avoid future legal issues or complications?
- Make sure that a Will is made and duly registered. A fresh Will can be drafted and registered anytime. For legal purposes and transfer of property, the last registered Will is the one that is considered.
- Make sure that the required documentation is done for individual property in order to establish ownership. It is always better to keep the title of the property updated in the current owner’s name, even if there are no disputes among family members.
- Make sure that matters pertaining to property sharing and inheritance are discussed and agreed upon by all siblings to avoid future legal hassles and other complications.
Owning and transferring the title of a property in India can be a relatively easy process, provided you get all the documentation right. It is advisable to seek the aid of a reputed legal counsel or real estate agent in order to handle all the paperwork as you most probably will not have the time to apply for the transfer procedure yourself.
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