The act of deed or transfer from one property to another. Unlike the common rent, tenants hold the title individually for their respective share of the property and can discard or overwhelm it as they see fit. This type of title can be registered at any time, even years after other owners have reached an agreement. The property can be transferred to other parties and, in the event of death, the property is transferred undivided to the heirs of that owner. “Even the most experienced title professionals may not find all the problems associated with a property. Some risks, such as . B, title issues related to bid errors, counterfeiting or unre revealing heirs are difficult to identify. Suppose A steals from B what B had already bought in good faith from C, that C had already stolen from D, which was a legacy of D`s family for generations, but which had been stolen originally centuries before (although this fact is now forgotten by everyone) of E. Here, A has the property , B a manifest property right (as the purchase proves), D the absolute right to property (the best right that can be proven) and the heirs of E, if they knew it, have the right of property that they cannot prove. A good title is to bring these three people (property, property and property) together in the same person. The owner of the property who lends money and home loans as collateral for the loan. The deed of acquiring property ownership that has an existing mortgage and agree to be personally responsible for the terms of the mortgage, including payments. Another significant drawback is that a creditor who has a court judgment to recover a debt from one of the owners can also ask the court to split the property and impose a sale in order to recover its judgment.
In other words, each owner takes a risk in the other`s financial decisions. Remember here that both parties must respect the terms of the sale agreement. Any party that does not comply with any of the terms of the agreement could be brought to justice if the other party so wishes. All parties involved should also ensure that this document can be used as legal evidence before the court of law and that all those who have agreed to comply with the conditions are required to do so. “Any sales contract that is not a registered promotion (nature of sale) would fall short of the provisions of section 54 and 55 of the Transfer of Ownership Act and would not confer ownership and would not transfer any right to purchase property (except for the limited right granted under Section 53A of the Transfer of Ownership Act).” Date of the first research report (i.e., the date on which records from the recorder`s office affecting the title of the transferred property were searched).Back to Blog