Legal Service in India

Any property transaction entails the conveyance of title from one party to another. There are multiple steps and documents involved in the conveyancing process which might be cumbersome for an individual unaware of the legal complexities involved. Moreover, real estate deals are marred with frauds such as title deception, unclear mortgages, encroachment, multiple buyers, pending legal issues and similar sharp practices. It is therefore prudent to avail the services of an expert in these transactions.

Be it an Indian law firm or any other Legal Services India, it is important to engage an advocate practicing in the location where the property is situated since real estate laws vary from state to state. Here, a pan-India and holistic law firm services may be availed since presence in major locations and diverse experience to address wide ranging concerns is crucial. However, prior to that, it is important to understand the relevance of conveyancing, the legal framework governing it and the steps involved so an informed decision may be made on the engagement of a conveyancer.

Importance of Conveyancing in Property Transactions

Conveyancing is crucial in any property transaction and includes multiple types of title transfers such as sale, gift, lease, exchange, partition, will, joint venture, development agreements, auction sales, etc. A conveyance deed when properly drafted and legally executed serves as evidence of the transaction in case of a legal dispute. In addition, it serves as a clear proof of ownership and eases the future transaction involving a property. These documents have clearly outlined property descriptions, chain of titles, details of considerations, terms and conditions, legal encumbrances, mortgage information, registration and details pertaining to property handover.

Legal Framework Governing Conveyancing in India

Conveyancing is governed by the following acts and regulations:

• Transfer of Property Act, 1882: It lays down the legal requirements and procedures for the transfer of property and the rights and obligations of parties involved in such transactions.
• Indian Registration Act, 1908: It provides for the registration of transactions involving the transfer of immovable properties and outlines the procedures involved.
• Indian Stamp Act, 1899: Stamp duty must be paid depending on the type of conveyance and the value of the property being transferred.
• Real Estate (Regulation and Development) Act, 2016 (RERA): It was introduced to protect the interests of property buyers and promote transparency and accountability in real estate deals.
• Other Laws: Laws such as Indian Contract Act, Evidence Act, Easement Act, Power of Attorney Act, Civil Procedure Code, Criminal Procedure Code, Benami Transactions (Prohibition) Act, 1988 etc. sometimes have implications on real estate transactions.
• State Laws: States have specific laws governing conveyancing including tenancy and agricultural land laws, revenue laws, town planning, municipal corporation laws, environmental laws, apartment laws, tax laws and other state specific laws.

Legal advice in India related to conveyancing requires a thorough understanding of property laws, their intricacies and idiosyncratic nature, for a hassle-free transaction experience. These may be handled independently but future proofing the deal by availing a lawyer or law firm services is advisable.

Conveyancing Related Legal Services in India

Apart from fraud, title disputes, encroachment and similar land related issues, there are also transactional issues that affect a deal such as missing documents, survey delays, etc. There are also occasions when buyers rely on funds from the sale of an existing property and run into trouble when their plan does not pan out. It is also common for buyers to back out of a transaction at the last minute or reduce their offer.  Sellers have also opted for a better price offered by another purchaser.

Therefore, mitigating legal risks at the outset is a better approach rather than sorting out the disputes in the court where delays and cost could be an additional burden. Legal services India with respect to conveyancing inter alia includes:

• Title Due Diligence: Checking the ownership and encumbrances related aspects of a property.
• Property Due Diligence: Checking the condition, encroachment issues, compliance with municipality guidelines etc.
• Contract Related Services: Preparation and execution of the legal documentation pertaining to the transaction.
• Negotiation Assistance: Handling offers, counter offers, inclusions etc.
• Finance Related Services: Sometimes understanding the various nuances of getting a loan and handling the documents is unwieldy and better left to experts.
• Compliance: It is necessary to check that all legal and statutory requirements are met while conveyancing, be it tax related, environment related or transfer related aspects.
• Dispute Resolution: In cases where transfers have been done without adequate checks or an adverse situation has arisen post transaction, legal Services India has the answers for resolution of matters through the Indian judiciary’s support.

Fox Mandal & Associates has been awarded as one of the top Legal Service in India for Real Estate work by Thomson Reuters’ Asian Legal Business in 2022 and has been recommended by various other renowned ranking publications in the legal sector including Indian Business Law Journal, Forbes India in 2022, 2023, Legal500, Chambers etc.