Tenancy in Common (TIC) in Indian Real Estate:

Tenancy in Common (TIC) in Indian Real Estate: Tenancy in Common (TIC) is a legal arrangement in which two or more parties jointly own a piece of real property, such as a building or a parcel of land. This structure allows each party to hold a distinct share of the property, adding flexibility and shared responsibility to property ownership. A significant feature of a TIC is that any party can sell their share of the property independently and also reserve the right to pass on their share to their heirs, making it an attractive option for estate planning. Prevalence of Tenancy in Common in India: TIC arrangements are most prevalent in urban areas of India, especially in bustling cities like Mumbai, Delhi, Bengaluru, and Chennai. In these densely populated regions, where real estate prices can be prohibitive, TIC enables multiple investors to co-own properties, which makes it easier to enter the property market together. This arrangement is commonly utilized in residential complexes and...
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What are the documents a Seller need to carry for Registration of his property in Buyer's name

   What are the documents a Seller need to carry for Registration of his property in Buyer's name:


The documents required for the registration of a property in the buyer's name in India typically include:

 

1. Sale Deed: This is the primary document that transfers ownership from the seller to the buyer.

 

2. Encumbrance Certificate: This document verifies that the property is free from any monetary or legal liabilities.

 

3. Property Tax Receipts: The seller should provide property tax receipts to show that all property taxes are paid up to date.

 

4. Khata Certificate: This is a document that establishes the legal ownership of the property and is necessary for property registration.

 

5. Title Deeds: These are documents that prove the seller's legal right to the property.

 

6. No Objection Certificate (NOC): If the property is being sold by a cooperative society or builder, a NOC from them may be required.

 

7. Identity and Address Proof: Both the buyer and seller need to provide their identification and address proof, such as Aadhar card and Pan Card.

 

8.2 Passport-size photographs of both parties.

 

9. Sale Agreement: A sale agreement may be necessary to detail the terms and conditions of the sale.

 

10. Stamp Duty and Registration Fees: Payment receipts for stamp duty and registration fees must be provided.

 

It's important to note that the specific documents required may vary by state and local regulations, so it's advisable to check with the local sub-registrar office or a legal expert for precise requirements in your area. Additionally, it's essential to engage the services of a legal expert or a chartered accountant to ensure a smooth property registration process.

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