We may come across such situation in which seller want to sell his property but said property is mortgage with a bank or any financial institution as collateral security towards loan(s) availed in past. Seller may not able to pay of outstanding balance of loan before execution of sale deed in favour of buyer as […]
The provisions of SARFAESI Act apply to outstanding loans (above Rs. 1 lakh), which are classified as Non-Performing Assets(NPA). NPA loan accounts amounting to less than 20% of the principal and interest are not covered under this Act. The most Important section of SARFAESI Act is section 13(2), which provides that if a borrower who […]
Owning extra houses and earning rental income from those houses is considered a good source of passive income. However, if proper steps are not taken, this easy source of income can turn into a nightmare. Especially if you happened to deal with irresponsible tenants. What is an Eviction? Generally, an Eviction is a process whereby […]
What Is A Conveyance Deed? Conveyance simply means transferring or transporting something from one place to another. In law terms, conveyance means the process of transferring property, assets, title, rights, ownership, etc. from one person to another. If you are purchasing or selling a property, then you must have a deed or contract to do […]
What is the Pagdi or Pagdi System? Pagdi is a traditional and unique tenancy model in India since the pre-Independence era, although the number of people, who are tenants under such a system today, may not be high. Similar to other renting arrangements, it also involves a tenant and a landlord, and pays a nominal rent as compared […]
Model Tenancy Act has been approved by the Union cabinet on Wednesday, June 2, 2021. The main trigger for this is the 1.1 crore vacant houses that were found to be locked and empty in the 2011 census. Chances are that this number must have risen in the past 10 years. This model law now […]
Depending upon the State, various terms are being used across the nation to denote the area of a landed property. In order to better understand the offer of a seller, the terms as mentioned in the land documents, and to calculate the value of land, it is always advised to have an idea of the common […]
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