“The fundamental cause of registration is to report and record the execution of the document.
Only while you register a document, it will become legally valid and the possession, if any, is transferred to the proper owner.
In simpler words, the awareness of intimation might be filed only if a settlement betweenthe lender and the mortgage applicant hasn’t been registered.
Tanaka registration is mortgage.
Some mortgage should be taken against the assets.
Unless you release the assets from Mortgage you’ll no longer get the title over the assets.
Transfer of ownership is said to be a complex procedure.
It is vital for property buyers to understand that for ownership transfer, a purchaser desires to pay a few fees within the form of stamp responsibility and additionally for registration.
The procedure varies primarily based totally on whether or not the assets is at once bought from a developer or whether or not it’s the secondary sale of the assets.
The procedure can also additionally contain stamp duty and registration of transfer deed.
The Property registration in India includes the subsequent steps:
(1) Verification of the title of the assets
(2) Estimation of the value
(3) stamp papers preparation
(4) sale deed preparation
(5) Payment of the stamp duty & registration fees
(6) Approach the Sub-Registrar
(7) submission of the document
Reference: The transfer of property act, 1882 – – AHG199 – 202100580 – 107 – 158- 2021001542021004215641