PROPERTY LAW

Populus Law Firm


PROPERTY LAW

In civil law, there are two type of properties discussed, movable and immovable. Movable property includes personal property such as goods, jewellery etc., immoveable property refers to the REAL property or real estate. The immovable property include land, befits out of the land and things permanently attached to the land. This property law governs the associated rights to the real estate, their ownership, tenancy rights, lease rights and obligations. However, it does not include standing timber, grass or crops grown on the land.

In India, the property law mainly pertains to the transfer of immovable property which is acted upon under the transfer of Property Act of 1882.This law regulates the transfer of property under the conditions provided in the act. By this act the property can be transferred to one or more people and/ or to a company or association or a body of individuals. The transfer can be initiated by the rightful owner of the property or its authorised agent through a provision called as General Power of Attorney (GPA), sale agreement (SA) or will. However, since 2012 this is not mandated in Delhi. In another provision, DDA has allowed the property to be converted from leasehold to freehold through SA or GPA, which came into effect in 2014.

Government has initiated another law which covers and protects the buyers from unscrupulous builders known as Real Estate Regulation and Development Act. It is popularly known as RERA Act. This came into effect in 2016 and applies to real estate sector. Under this,