Want To Sell Unregistered Property? Here’s What You Need to Know

Selling A Property

Selling an unregistered property is complicated and legally risky also.  

What Does The Law Says

There are two laws that deal with the unregistered properties, the Transfer of Property Act, 1882, and the Registration Act, 1908.

Tangible Immovable Property

If there is sale of tangible immovable property, then if the property is valued for over Rs 100, it falls under Section 54 of the Act, which means it is not legally registered under your name.

Registration Act, 1908

Section 17 of this Act states that if the immovable property is involved, then the transaction shall be documented and must be registered with the local sub-registrar.

Consequences

The consequence of not registering can result in risk of disputes, fraud, or loss of rights.

Sales Without Registration

There are still sales that happen without the property being registered, usually in cases of under-construction or builder-held properties.

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