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Real Estate Law Home » Real Estate Article » Real Estate Law
With the onset of new land utilization practices the real estate sector become more complicated and several instances of irregularities had been noticed in past. A little knowledge on real estate legal provisions can help one to tackle the ongoing illegal practices in this sector. Real estate law is one of the strong safeguard mechanisms that ensure authentic practices both in commercial and residential real estate sector as well. The Indian constitution has also mentioned several provisions to regulate real estate sector. To understand those legal provisions and other related property laws, it is utmost essential to know few legal jargons.
Title: The term “title” in a real estate means ownership or right to use the land. Ownership to lands can be of different types such as individual ownership, co-ownership and common interest ownership. There are several legal provisions on property right mentioned in our constitution. Deed: Deed in real estate facilitates the buying and selling or transfer of lands in proper and authentic manner. This is a legal framework for buying and selling of properties. Deed agreement is divided into different forms such as grant deed, warranty deed and quitclaim deed. Lien: Lien is a special form of security interest levied on property to ensure pay back of debts. Mechanic’s and materialmen’s liens are specially designed for business and commercial property managements. These legal provisions secure good return of investment in real estate. Eminent Domain: This is a special provision which empowers the government to acquire any private owned land for the purpose of public use. Enforcement of effective real estate laws in both commercial and residential property sector enabled India to establish a systematic real estate business world. |
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