An Agreement for transfer of title of immovable property is called as agreement to sell.

Adjudication

Adjudication is the process of making the POA's issued from foreign countries by NRI's / PIO's legally accepted in India. The process of getting the POA issued from foreign countries stamped as per Indian stamp act is "called adjudication". This is essential to make the POA a legally acceptable document.

Built-UP Area

Built up Area includes the area of the walls also. It also includes the carpet area, the wall thickness and the balcony.

Carpet Area

Carpet Area is the area of the apartment/building, which does not include the area of the walls. The actual used area of an apartment / office unit / showroom etc. In simple terms, it is that area within the walls where you can actually lay a carpet. It is the super built-up area minus the thickness of the walls and the proportionate share of the common areas.

Cancellation Deed

A document / deed which is required to cancel / deactivate a previously executed document/deed is called cancellation deed. By virtue of the cancellation deed the previous documents willl not have any effect in law.

Conveyance deed or Sale deed

Conveyance and sale deed essentially have no difference as in both the documents, the right, interest and title of the previous owner is transferred to the purchaser

Conveyance

Conveyance records the transfer of interest in immovable property. The conveyance in the immovable property may take place by way of sale deed, gift deed, exchange deed etc.

Clear title

Clear title is free of liens and legal questions as to ownership of the property.

Deed

Deed means a written document

Exchange deed

This deed is executed when a property is exchanged in lieu of another property having approximately the same area and market value.

Encumbrance Certificate

Encumbrance Certificate records and reflects all the transactions occurred in respect of an immovable property be it a sale, lease, mortgage, gift, partition, release, etc., which have been registered before the registration authorities.

Freehold property

Freehold properties are those properties, which have been allotted by the government authority such as Delhi Development Authority (DDA)/ Bangalore Development Authority (BDA)/ Mumbai Metropolitan Region Development Authority (MMRDA)/ Chennai Metropolitan Development Authority (CMDA)/ Hyderabad Urban Development Authority (HUDA), etc to the people whom the property has been allotted. The property so allotted is on perpetual lease basis and cannot be sold on the basis of a sale deed. Any transfer of the leasehold property requires prior permission from the lessor (Government authorities).

FSI (Floor Space Index)

FSI - The ratio of the total floor area of a building or buildings, to that of the gross area of the land, on which the building or buildings are located. For example, a Floor Space Index (FSI) of 2.0 would indicate that the total floor area of a building could be up to 2 times the gross area of the lot on which it is located.

Gift deed

By this deed the owner of a property transfers his / her right on the property by way of gifting to someone. The person / party that donates the property is called as donor & the party / person that receives the property is called as the donee.

Khata / Patta certificate

A Khata certificate will contain the details about the property such as its size, location, built up area and so on, for the purpose of payment of property tax. This certificate is issued to the legal owner of the property.
Khata is one of the most important documents for any property tax assessment. It is known by different names in different states. It is mandatory for all property owners or holders to pay tax, and hence they need a Khata. It is needed in case one requires a building license, trade license or a loan from bank.

Leasehold property

Leasehold properties are those properties, which have been allotted by the government authority such as Delhi Development Authority (DDA)/ Bangalore Development Authority (BDA)/ Mumbai Metropolitan Region Development Authority (MMRDA)/ Chennai Metropolitan Development Authority (CMDA)/ Hyderabad Urban Development Authority (HUDA), etc to the people whom the property has been allotted. The property so allotted is on perpetual lease basis and cannot be sold on the basis of a sale deed. Any transfer of the leasehold property requires prior permission from the lessor (Government authorities).

Lease Deed

This deed is executed by the lessor (eg. Government agencies like DDA, BDA etc or individual parties) in favor of the lessee, whereby land / property owned by the lessor is given on lease to the lessee.

Mutation

Mutation is a process by which transfer / change of name takes place in the records of the Municipality office for the concerned property. It basically means rectification in the records of the municipal authorities replacing the name of the old owners of a property with that of the new owner.

Non Resident Indian (NRI)

An Indian Citizen who stays abroad for employment / carrying out business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organization and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non- residents). Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs).

Nomination

A nomination is not a Will. A nomination merely gives the nominee the right to act as the trustee. Sometimes, the nominee and the beneficiary of the Will are the same person.

Person of Indian Origin (PIO)

A foreign citizen (other than a citizen of Pakistan or Bangladesh) is deemed to be of Indian origin, if,

1. He, at any time, held an Indian passport, or
2. He or either of his parents or any of his grand parents are/is citizen(s) of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955).

Note: A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a Person of Indian Origin is also treated as a Person of Indian Origin for the above purposes provided the bank accounts are opened or investments in shares/securities in India are made by such persons only jointly with their NRI spouses.

Power of Attorney

A power of attorney (POA) is an authorization to act on someone else's behalf in a legal or business matter. The person authorizing the other to act is the principal or granter (of the power), and the one authorized to act is the agent or attorney-in-fact. The POA can be broadly classified into two categories i.e. General POA & Specific POA.

Re-conveyance Deed

This deed is executed by a Bank / Financial Institution in favour of the borrower on repayment of the entire loan amount by the borrower. By this deed the ownership of property previously mortgaged with the Bank / Financial Institution is re-conveyance back to the borrower/owner.

Relinquishment/ Release deed

Relinquishment / Release deed is a one of the ways to transfer a property. By way of relinquishment deed, a property owner or joint owners can give up / relinquish / release his /their share in an immovable property to one or more joint owners.

Repatriation

The process which enables an NRI/PIO to carry the income arising from the property to his own county or any other country outside India is called repatriation.

Registration

Registration is the process of recording a copy of a document, transferring the title of immovable property in the office of the Registrar. Registration acts as proof that a transaction has taken place.

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Super Built-Up Area

Super Built up Area includes the built up area along with the area under common spaces such as the lobby, lifts, stairs, etc. This term is therefore only applicable in the case of multi-dwelling units. The plinth area along with a share of all common areas proportionately divided amongst all unit owners makes up the Super Built-up area. Sometimes it may also include the common areas such, swimming pool, garden, clubhouse, etc.

Stamp Duty

It is a type of tax collected by the government. It is payable on instruments and not on transaction. Instruments include every document by which any right or liability is or purpose to be created, transferred, limited, extended, extinguished or recorded but does not include a bill of exchange, cheque, promissory note, bill of exchange, bill of lading, letter of credit, policy of insurance, transfer of shares, debentures proxy and receipt.

Sole ownership

Sole ownership is where an immovable property is owned by one individual/party and there is no other joint holder in the property.
A transfer deed is a document used to transfer property from its legal owner to another party.

Transfer Deed

A transfer deed is a document used to transfer property from its legal owner to another party.

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Will

A Will is a person's expressed intention of what should be done with his property after he dies. Every person of sound mind, as long he is not a minor, can make a Will. A Will obtained by force, coercion undue influence, under influence of intoxication or in such a state of body or mind is void