Supreme Court on Property Registry: Till now people used to think that if you have registered your property then you get full rights over that property. That means you can sell it, transfer it. This means that after registering a flat or land, we think that we are the owners of that property.
Property Registry New Rule: Till now people used to think that if you have registered your property then you get full rights over that property. That means you can sell it, transfer it. This means that after registering a flat or land, we think that we are the owners of that property. This thinking has been shaken a bit by the latest decision of the Supreme Court. After what the country's highest court said about the property rules, the power of the registry seems to be weakening a bit.
Registry does not mean ownership
In its latest decision, the Supreme Court said that the registration of a property does not mean that you have ownership rights over that property. The court clarified that no one gets full rights over the property on the basis of registration alone. Registration alone is not enough for ownership of the property. Other legal documents and proofs will also be required for this. The Supreme Court's decision has given rise to a new debate. The court said that registration can support a person's claim, but it is not equivalent to legal possession or control over the property. This decision of the court is going to have a huge impact on property holders and real estate developers.
What is the difference between registration and ownership?
The process of property registration has been going on in India for a long time and most people consider it as the right of ownership. It is believed that if the property is registered in your name, then you are its owner, but the latest decision of the Supreme Court has made it clear that just registration is not enough for ownership. For this you need ownership. The court believes that this will reduce property disputes and will also stop cases of property fraud.
If the registry is not enough then what?
The court has said in its decision that registry does not give ownership rights over the property. The Supreme Court's decision shows a clear difference between property registration and legal ownership and states that ownership rights are given only by property ownership. It is not registry but ownership that gives a person the legal right to own, use, manage and transfer property. It is clear from this decision that property transactions cannot be done on the basis of registry alone. Real estate developers and buyers will now have to be extra cautious and check other legal documents of the property.
What will be the effect of this decision
This decision will affect property holders and real estate. Especially those who sell or buy their ancestral property. People who acquire property from inherited property will be affected by this decision. With the help of this law, buyers should ensure that the person from whom they are buying the property is only registered and then they have its ownership. Property owners are advised to get all property documents legally verified. Seek help from legal professionals for clarity on ownership and registration related issues. This decision will also affect real estate. Developers will have to work under this law. Property acts will be stronger than before.