In property transactions, one invariably hears the term 'C
oneness Deed'. Because it is not clear to one, unless one deals with the
subjects of property, it is important to gain clarity on the term, which we
will seek to explore in this article. 'Transit' refers to the act of
transferring title, ownership, rights and interests in one property to another.
The term 'deed' refers to a device as a written document signed by all parties,
in this case, the seller and the buyer. This is a contract that can be enforced
in court. Therefore, a shipping deed is a contract where the seller transfers
all rights to the legal owner. The purchase of the property is not complete
without a valid shipment letter with Real Estate Solutions.
Important things about shipping deed
The seller is required to certify that the property is free
from any legal disturbance.
If the loan is taken against the property in question, the
mortgage must be cleared before the deed is signed. Buyers have the opportunity
to check this at the local sub-registrar's office.
The shipment letter must state the exact date of handing
over the property to the buyer.
Within four months of the deed's execution, all original
documents relating to the sale of the property must be presented to the local
registrar for registration.
The letter must be signed by at least two witnesses.
Types of transit functions
There are three types of shipping documents : Freehold
Transfer Letter: Can be an asset Transferred to a Freehold status by a
concerned authority such as the Delhi Development Authority (DDA) or any State
Authority. The dispatch letter is issued to the owner as a final document. Deed
of Transfer of Leased Property: Leasehold ownership of property means that the
owner has the right to everything within the four walls of the property but it
does not include external or structural walls. The landlord is the owner of the
structure, the common areas of the building and the land on which it was built.
Mortgaged conveyance deed: In this case, the buyer may, from time to time,
enter and own or enjoy the land in question and its premises.
Method of obtaining a shipment deed
The shipment is executed on non-judicial stamp paper and is
registered with the nearest registrar's office. Upon completion of
registration, you will be required to pay stamp duty and registration fees.
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Documents required for shipment
A registered contract for sale is entered into with the seller.
Transformation Entries / Property Card
Location planning
Urban Survey Plan or Survey Plan by the Revenue Department
The Lay Project Plot Plan has been approved by the local
authority.
Architect's Certificate of Undivided Interest on the entire
Layout Layout Plot, Common Areas and Facilities of Each Unit or Facilities to
be Built or Built in such Layout Layout Plot.
Building / construction project approved by the appropriate
authority
Start Certificate.
Completed certificate
Occupancy Certificate (exempt if not available)
List of owners
Proof of Stamp Duty Paid
Proof of Registration
Development contract or attorney's authority or if sold by
seller
The draft letter / declaration is proposed to be executed on
behalf of the applicant.
Differences between sales and shipping deed agreement
As a registered contract for sale begins the process can be
subject to a broad category called property transaction, shipping deed.
However, this should not be confused with the deed of sale, which ultimately
serves as the completed proof of the transaction initiated by the execution of
the contract of sale.
Difference between a shipment deed
and a deed
Any legal documents that serve as the legal proof of
transfer of property rights fall into the broad category of shipping documents.
That way, a deed of sale is a shipping deed. Other asset transfer documents
that fall into the category of shipping deed include gift card, exchange
letter, deed. This means that all sales letters are shipping letters, but not
all shipping letters are sales letters.
If the shipment is lost?
If a shipment is lost due to the banker's negligence, it is
important to take the following steps:
The owner should file a police complaint as soon as
possible. Secure a copy of the first information report (FIR) because home
buyers can ask for it at the time of sale.
You can post an ad in the newspaper about the loss of
documents. You may have to wait around 15 days to find out if someone finds and
returns documents within the period.
One can make an affidavit and get the same notary. This
should include all property details, FIR details and notified newspaper
advertising information.
You can obtain a legally certified copy of the shipment
letter from the Office of the Sub-Registrar who has registered the property.
You will need to pay the prescribed fees and provide relevant documents.
Important points to remember
All sales letters are shipping letters but the conversation
is not true.
Shipments are regulated under the Registration Act and
executed on non-judicial stamp paper.
Once the shipment is signed, it must be registered with the
local sub-registrar's office by paying the registration fee.
The details of the shipment include the names of the buyer
and seller, their addresses, the boundary of the property, title details, the
manner of delivering the property.
The shipping letter must be signed by at least two witnesses.