Manthan Legal Consulting Service

Introduction The sale of immovable property in Karnataka is governed by multiple laws that ensure transparency, legal security, and the transfer of valid ownership. Understanding the legal provisions and the importance of property registration is crucial for both buyers and sellers. The sale of immovable property is governed primarily by the Transfer of Property Act, of 1882 (TPA) in India. The Act defines the legal framework for transferring property ownership through a sale, ensuring clarity and legal validity in transactions. Additionally, other statutes such as the Registration Act, of 1908 , the Indian Contract Act, of 1872 , and the Stamp Act, of 1899 , play a crucial role in regulating property transactions. Definition of Sale under the Transfer of Property Act, 1882 Section 54 of the Transfer of Property Act, of 1882 defines 'sale' as: "A transfer of ownership in exchange for a price paid or promised or part-paid and part-promised." Essential Features of Sa...

 Introduction: In the realm of property law, mortgages, and charges are fundamental legal mechanisms that facilitate financial transactions while safeguarding the interests of both lenders and borrowers. These instruments are particularly significant in the context of immovable property, such as land and buildings, where substantial capital is involved. In India, the legal framework governing mortgages and charges is primarily laid down under the Transfer of Property Act, of 1882 , along with relevant provisions in the Indian Contract Act, of  1872 , the Indian Registration Act, of 1908 , and the Companies Act, of 2013 . Mortgages and charges serve as security mechanisms, ensuring that loans or obligations are adequately secured against immovable property. However, while they share a common purpose of securing debts, they are fundamentally different in terms of their legal nature, rights conferred, and enforcement mechanisms. A mortgage involves the transfer of an interest in...