Legal Question in Real Estate Law in India
Leased property
I saw a 3rd floor measuring 44 sq yard in J J Colony, Sriniwaspuri for purchasing. Seller said property is on lease and not free hold. Wanna ask
1. if a property is on lease then what does it mean? who had given the property on lease to the seller?
2. difference between power of attorney and registry.
3. are the authorities currently doing registry in Delhi?
3 Answers from Attorneys
Re: Leased property
1. Lease means lease as defined by transfer of property act.
2. Owner lease the property.
3. power of attorney is a document. Registry is normally referred to office where documents are registered under the Registration Act.
4. That should be asked to Delhi Authorities.
Re: Leased property
a lease of an immovable property means transfer of the right to enjoy such property for a certain period of time on payment of a certain amount. a power of attorney gives the holder a right to enjoy the property for a certain period of time whereas a registry gives a purchaser an exclusive right to use or alienate the property. for further assistance please contact us on our email id
Re: Leased property
The property may be on lease from Government; Registry means execution of sale deed which is final transfer of ownership/title from seller to buyer. Power of Attorney means the PoA holder or the buyer becomes an agent of the seller.
Registry may not be stopped, if other legal formalities are completed.
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