Sale Deed Registration in Patna

Introduction

Overview

Like in any other area of India, a sale deed in Patna is an essential legal document that formally transfers property title from one party to another. Patna, which is in the state of Bihar, is well-known for both its expanding real estate market and its rich historical and cultural significance. Both buyers and sellers must be aware of the nuances of a Patna sale deed in order to guarantee a seamless and legally binding real estate transaction.

The ultimate proof of the transfer of property rights from the seller to the buyer is a sale deed. It includes important facts including the parties' personal information, the property's location and description, the selling consideration, and any other terms and conditions that both parties have agreed upon. A sale deed in Patna must be completed on non-judicial stamp paper of the required value, as specified by the Stamp Act, in accordance with the current legal framework.

Ensuring compliance with property laws and municipal rules is a crucial component of a selling document in Patna. Like other Indian states, Bihar has its own set of laws controlling real estate transactions, such as stamp duty rates and registration procedures. Failure to adhere to these regulations can lead to legal complications and potential disputes in the future.

What is a Sale Deed?

The terms and conditions that the buyer and seller have decided upon in respect to the sale of real estate are outlined in a written document known as a sale deed. The value of the non-judicial stamp paper used to execute the sale deed in Patna is determined by the applicable Stamp Act. One mandatory expense that must be paid is stamp duty, which is determined by the market value of the property.

Benefits of Property Registration (Deed Registration) in Patna

1. When a property transfer document is registered with the relevant Sub-Registrar office in Patna, it becomes a permanent record.
2. A public record of the transfer of land or property is available for inspection by everyone, and the relevant Sub-Registrar office in Patna can provide verification of the document.
3. A property's listing gives the public access to the information that the owner has passed to the buyer.
4. Anybody who plans to purchase a property in Patna can examine or confirm the information found in the sub-Registrar office's records. Such an individual is able to verify whose name appears on the most recent transfer deed.
5. You can confirm the revenue record as khata, khatoni, or khasra of the land and title deed if it is used for agriculture in Patna

Importance of Sale Deed in Patna

The sale deed is a crucial document for the seller and the buyer. The seller gives the buyer ownership rights through the sale deed. As a result, the buyer can obtain exclusive ownership of the asset. This document gives the buyer confirmation of ownership of property allowing them to proceed with additional sales.

For the purchase or sale of a property to be legally completed, both seller and the buyer must sign the sale deed. Without both the buyer and the seller signing the sale deed, the property transaction cannot be finalised. By signing a sale document, the buyer and seller are indicating their acceptance of the terms and conditions stated in the contract.

What is Section 25 of Indian Registration Act?

As per section 25 of the Indian Registration Act, all required evidence for the registration procedure must be obtained by the sub registrar’s office within four months after the date of registration. The person who registers the sale deed in Patna must fulfil the requirements within allotted.

If the person does not provide the necessary documentation for the registration procedure, they will be fine 10 times the registration fees on the sale deed in Patna. 

Documents Required for Obtaining a Sale Deed in Patna

1. 2 passport size photos of all parties, each of the seller, buyer, and all the witnesses.
2. Photo ID Proof (voter’s ID card and passport of the buyer, the seller and all the witnesses).
3. Original and Duplicate copy of the certificates.
4. Certified copies of documents of Incorporation of both buyer and seller, in case of a company and not an individual buyer
5. Proof of the land register card to indicate that the land/ property does not belong to the Government (It can be received from the City Survey Department)
6. Proof of municipal tax bill to mention the year in which the land was built/ constructed.
7. Proof of the PAN Cards of all the parties are obligatory (It has to be annexed with the Sale Deed)
8. Photos and signatures of all parties.

Application Procedure for Property Registration in Patna

1) The applicant needs to register the record of their land or property transaction with the Sub-Registrar's Office.

2) Secondly, the applicant needs to get the "Dalil" property registration document (registration deed, sale deed, or other registration deed resulting from the land ownership process described above).

3) Thirdly, the candidate needs to go to the Tehsil office (TK) and submit an application for a mutation using Form No. 21 of the TRLR ACT (Mutation Application Form).

4) The Tehsildar will create a counter-foil that is correctly completed, dated, and signed in order to confirm receipt of the application form 21. After that, he would record the information in his Mutation registry (TRLR Act form 20).

5) Each landholder will receive a communication that includes the hearing date. Any verbal or written objection to the mutation that the Tehsil office receives before the hearing date will be included to the contested mutation case registry (Form 22 of TRLR ACT). The objection will be noted in Form 23 TRLR Act and acknowledged.

6) A field inquiry will be directed to the Tehsil office in advance of the hearing date by the Circle officer (DCM or RI), who will also test the entries in the mutation register. 

7) After the hearing, the applicant must turn in Form B, the "Form for Receiving New RoR" (Record of Rights). The Tehsil headquarters will send the case file to the DCM's office while also preparing the Badar, Jama Bandi, and Touzi registers simultaneously. Following document verification, DCM will provide an order of mutation via Form B. 

8) When the Khatian (Record of Rights) is turned over, the relevant applicant is charged Rs. 15/-per page of the Khatian and Rs. 4/-per additional page of the Khatian. The concerned applicant will thereafter receive an acknowledgement receipt as verification of the charge's collection.

Conclusion

To sum up, a sale deed in Patna captures the essence of a real estate transaction by representing the buyer and seller's mutual understanding and conforming to the state's legal framework. A successful real estate transaction in the energetic city of Patna requires knowing the ins and outs of a selling document and following all applicable laws.

To seek legal support and guidance you can contact our legal team at Lawtendo for obtaining a sale deed in Patna.

Frequently Asked Questions (FAQs)