Property Transfer Process

After registering the property there is a property transfer process where the property ownership title is transferred to the buyer, you might think the process is over. However, the mutation is still an important step that needs to be done. The buyer is responsible for changing the name of the owner in government records (municipal body or land revenue records) when they buy a home. During the selling process, buyers will also ask for a mutation certificate, so make sure you have one for your property.

After registering the property and transferring the ownership title to the buyer, you might think the process is over. However, the mutation is still an important step that needs to be done. The buyer is responsible for changing the name of the owner in government records (municipal body or land revenue records) when they buy a home. During the selling process, buyers will also ask for a mutation certificate, so make sure you have one for your property.

As the seller, you have to be honest and make sure the buyer does the same thing as soon as possible. By changing the name of the property, the buyer lets the government’s land records office or the local municipal corporation know that the property has a new owner and that ownership has been transferred. The department of land records or the local government will then know who owns the property or where to send property tax bills. How important it is to get mutation done also depends on what kind of property you’re selling.

Change if the property is in a rural area and outside of the city limits.

If you sold a piece of land in a rural area, you will need to do a property mutation. Without this, the transfer of ownership title would not be complete. It is very important for you, the seller, to make sure that the buyer does this right away after the sale deed is signed and registered so that there is no confusion about who owns the land now.

If a property is in a city, it will be changed.

If you sell an apartment in a city, the ownership will change as soon as the property is registered through a sale deed. Mutation is more of a legal formality in this case, but it should be done as soon as possible after the sale deed is registered.

• The process and paperwork can be different from one state to the next, but in general, the buyer will need a few key documents, such as:

• Form for a name change that was filled out correctly and had the court fee stamp on it.

• Copy of the sale deed. An indemnity bond with the right amount of stamps (usually stating that the buyer agrees to indemnify and compensate the concerned authority against any claims, losses or damages faced by the authority which may arise due to it conducting the mutation of the property)

• Affidavit on stamp paper with the right amount of money (usually stating that the buyer will obey all terms and conditions of mutation and that the property has not been acquired through misstatements or concealment)

• Copy of IDs like the Aadhaar Card

• Previous income from property taxes

• States usually charge a small fee of between Rs 25 and Rs 100 to do the mutation, which is usually paid by the buyer unless both parties agree otherwise.

• After that, it’s up to the buyer to show up at the office of the right authority with all of the necessary paperwork. The property will also be checked out by the authorities.

• In rural areas, a notice is sent out asking if anyone has any problems with the proposed change. Anyone who wants to object is given a deadline, which is usually 15 days after the date of the declaration. If no one files a complaint within the time limit, the change is approved.

• The city or town may need between 15 and 30 days to update their records. After that, the buyer is given a “mutation certificate.” If a piece of land changes hands, it could take up to a month for the land revenue records to show the new owner. Overall, the change of property is an important part of the legal selling process that must be done after you sell your property.

Disclaimer: The opinions shown above are mainly for informational reasons and are based on market research. Deal Acres is not responsible for any actions made as a result of relying on the provided material and makes no representations as to its accuracy, completeness, or reliability.