Executive Summary: An Encumbrance Certificate (EC) is an official certificate issued by the registration department that lists the registered transactions and charges affecting a property for the period applied for. For a buyer, it is one of the first documents to examine, because it shows whether the property has been mortgaged or otherwise…
Executive Summary: Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can buy residential and commercial property in Chennai without RBI approval, subject to the Foreign Exchange Management Act, 1999 (FEMA). First, Foreign Exchange Management Act (FEMA) regulations strictly prohibit Non-Resident Indians (NRIs) from directly purchasing agricultural land, plantation property, or farmhouses in…
Executive Summary: A sale deed is the legal document that transfers ownership of immovable property from seller to buyer. The buyer and seller must register the deed with the Sub-Registrar to complete the property transfer. Section 54 of the Transfer of Property Act requires a registered instrument for any sale of immovable property…
