FREQUENTLY ASKED QUESTIONS

What is 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. Ordinarily any conveyance deed is executed, generally by the government agencies, for example, DDA, L&DO, HUDA etc, and the sale deed is executed where the seller and the purchaser are individual/firms/companies other than government companies.

What is search report or title clearance certificate?

It is a report prepared by the lawyer confirming that the borrower has a clean and marketable title to the property, which is free from prior charge/mortgage etc. The report is to be minutely examined to see whether on the subject property equitable mortgage can be created.

What is power of Attorney?

Power of Attorney is a deed/document wherein the owner of property authorizes some other person to manage, look after and supervise the immovable property and the concerned attorney is vested with the right, authorities and legal capacity to sell and transfer the property. There is need to examine the power of attorney on case-to-case basis.

What is deed?

Deed means a written document

What is conveyance?

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

What is lease deed?

This deed is executed by the lessor i.e. government agencies, for example, DDA, L&DO, Ghaziabad. Development authority, Noida and greater Noida in favour of the lessee, whereby land owned by the lessor is given on lease to the lease. In these cases the First/primary change is of the lessor.

What is sub-lease deed?

This deed is executed by the lessor along with a registered co-operative Society in favour of the allottee i.e. sub-lease. This deed is also referred to as a tripartite lease deed as there are three parties to the deed.

What is transfer deed?

This deed is executed on subsequent transfer of leasehold property after of lease deed/sublease deed.

What is relinquishment/release deed?

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

What is gift deed?

By this deed the owner of property transfer the property by way of gift. Parties to the deed are referred to as the donor and donee, respectively.

What is the clear title?

Clear title implies that the borrowers ownership in the property proposed to be mortgaged is absolute and that the creation of mortgage.

What is Leasehold property?

Leasehold properties are those properties, which have been allotted by the government authority such as land & Development office/Delhi development authority to the allottees. 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)

What is an Earthquake and how is it caused ?

Number of tremors, both powerful and weak are the results of disturbances within the body of the earth itself logically are called Earthquake. ..They may be caused by various activities at the earth's surface such as ebb and the flow of the tides, the rush of traffic in the city streets, the tumbling of streams over high falls, magma tic outbursts from within the interior of the earth or explosion of high power nuclear or atomic bomb and so and so forth.

What is Property management ?

The range of functions concerned with looking after buildings, including collection of rents, payment of outgoings, maintenance including repair, provision of services, insurance and supervision of staff employed for services, together with negotiations with tenants or prospective tenants. The extent of and responsibility for management between landlord and tenant depend on terms of the lease(s). The landlord may delegate some or all of these functions to managing agents.

What is the registered document?

Sale deed, release deed, gift deed, exchange deed, will etc. The sub registers of Assurances where the said documents are registered. On registration, the original Document is returned to the person presenting the said document for registration and a duplicate copy returned by the sub registrar of Assurances.

What is the Co-ownership?

Co-ownership where a property is owned by two or more person and each of the said person is a Co-owner of the property.

What is sole Ownership?

Sole ownership is where in immovable property one person owns and there is no other joint holder in the property.

What is freehold Property?

Freehold property are those property, which may be sole in whole are or in part by owner of the property without taking any prior consent from the government authority

What is Project Management ?

The leadership role which plans, budgets, co-ordinates, monitors and controls the operational contributions of property professionals, and others, in a project involving the development of land in accordance with a client's objectives in terms of quality, cost and time.

What is Penal rent?

A financial punishment of a tenant for failing to honour his obligation to pay rent at the proper time, taking the form of a vastly higher figure being payable during the period of default.

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