{"id":388,"date":"2016-11-09T17:45:41","date_gmt":"2016-11-09T17:45:41","guid":{"rendered":"http:\/\/atmateen.com\/?p=388"},"modified":"2016-11-09T17:45:41","modified_gmt":"2016-11-09T17:45:41","slug":"buy-property-and-related-revenue-term","status":"publish","type":"post","link":"https:\/\/atmateen.com\/buy-property-and-related-revenue-term\/","title":{"rendered":"Guidelines: How to Buy Property and Related Revenue Terms"},"content":{"rendered":"\n
Buy property and related revenue terms is a very important knowledge that every person needs to know. Failure to know revenue terms can cause serious problems that can end up in civil proceedings.<\/a><\/p><\/blockquote>\n\n\n\n
People inquire while purchasing property either for personal or commercial purposes. That’s where I felt the urge to provide you with the guidelines about how to buy a property and related revenue terms.<\/p>\n\n\n\n
Tips to Buy Property and Related Revenue Terms<\/h2>\n\n\n\n
Here you can learn about the important issues that most foreigners face in Pakistan. You must be very careful while purchasing immovable property. Below are the tips to buy property and related revenue terms<\/p>\n\n\n\n
Q. What is Aks-Shajra?<\/h3>\n\n\n\n
Ans.<\/strong> Aks-Shajra means an image of a specific piece of land\/specific khasra number from the map\/plan of an estate or village defining its boundaries.<\/p>\n\n\n\n
Q. What is meant by Fard Malkiat?<\/h3>\n\n\n\n
Ans.<\/strong> Fard Malkiat is also known as (Record of Rights\/ Jama Bandi\/Misal Haquiat\/ Register Haqdaran-e-Zameen) maintained for determination\/record of various types of rights in the immovable property.<\/p>\n\n\n\n
Read Also:<\/strong> Procedure of Legal Heirship Certificate For Immovable Property in Pakistan<\/a><\/p>\n\n\n\n
Q. What is Mutation (Intiqal)?<\/h3>\n\n\n\n
Ans.<\/strong> The mutation is a document containing an order by a revenue officer; who must be at least an Assistant Collector of grade III, whereby an entry in the record of rights is to be altered, changed or mutated in the revenue record.<\/p>\n\n\n\n
Q. What is meant by Tattima Registry?<\/h3>\n\n\n\n
Ans.<\/strong> Tattima means \u201csupplementary\u201d and Tattima Registry means supplementary sale deed in the specified areas.<\/p>\n\n\n\n
Q. What is meant by Khasra?<\/h3>\n\n\n\n
Ans.<\/strong> Khasra is a piece of land with specific measurements and a specific number.<\/p>\n\n\n\n
Q. What is Khasra Garrdwari?<\/h3>\n\n\n\n
Ans.<\/strong> Register Kharsa Gardwari is a register maintained for record of possession\/cultivation.<\/p>\n\n\n\n
Q. What is meant by Survey?<\/h3>\n\n\n\n
Ans.<\/strong> A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments, and other physical features.<\/p>\n\n\n\n
Read Also:<\/strong> Child Adoption Procedure and Law In Pakistan<\/a><\/p>\n\n\n\n
Q. Is mutation is a title document?<\/h3>\n\n\n\n
Ans.<\/strong> No, the mutation is not a title document.<\/p>\n\n\n\n
Q. What is the name of the document, which creates title in immovable property?<\/h3>\n\n\n\n
Ans.<\/strong> Register Sale Deed (Registry \/Baye-Nama) is a document, which creates a title in the immovable property.<\/p>\n\n\n\n
Q. What is meant by Conveyance Deed or Sale Deed?<\/h3>\n\n\n\n
Ans.<\/strong> Conveyance Deed or Sale Deed is a deed document by which the title of the property is conveyed by the seller to the purchaser. Conveyance is the act of transferring ownership of the property from a seller to the buyer.<\/p>\n\n\n\n
Deed document will help you ascertain whether the property, which you are buying, is on land belonging to any development authority, society, a builder in which the property is located, whichever the case may be.<\/p>\n\n\n\n
Q. From where I can obtain my house documents or title deeds of my property?<\/h3>\n\n\n\n
Ans.<\/strong> You can obtain your house documents or title deed documents from the office\/department by which the title of the house was conferred or transferred.<\/p>\n\n\n\n
Q. What laws generally deal with real estate in Pakistan?<\/h3>\n\n\n\n
Ans.<\/strong> Among the laws, which deal with real estate in Pakistan, are The Transfer of Property Act, 1882, Land Revenue Act, 1967, Stamp Act, 1899 and Registration Act, 1908.<\/p>\n\n\n\n
Q. What safety precautions should I take before buying property or real estate in Pakistan?<\/h3>\n\n\n\n
Ans.<\/strong> Before buying a property in Pakistan a complete and thorough probe in respect of the title of the seller to the real estate must be carried out. General practice is to investigate the title of the current seller and any previous owner.<\/p>\n\n\n\n
Original title document in favor of the vendor must be obtained along with other relevant documents including a mutation in favor of the vendor, a fresh copy of fard, aks shajra, and no-objection certificate or non-encumbrance certificate as the case may be. <\/p>\n\n\n\n
If the vendor is selling the property in the capacity of an attorney of the owner then it must be ensured that the power of attorney is duly registered with the relevant sub-registrar. A holder of a forged and fabricated power of attorney is not at all able to transfer a valid title in an immovable property to a third party.<\/p>\n\n\n\n
Q. In name of a Company, the property is registered before purchasing it, what documents should I inspect?<\/h3>\n\n\n\n
Ans.<\/strong> Before purchasing a property from a company you should verify from the Registrar of Companies at Securities & Exchange Commission of Pakistan that the property is not mortgaged or is not being used as a security against a loan, otherwise, it will not be considered as a freehold property.<\/p>\n\n\n\n
In addition, check the memorandum of association that is authorized to act on behalf of the company for selling the property, if the resolution is required then the same must be passed and verified. Further, inspect original title documents from the selling company.<\/p>\n\n\n\n
Q. Can corporate bodies use residential properties as office space?<\/h3>\n\n\n\n
Ans.<\/strong> It is illegal to put residential properties to commercial use. However, service-based industries are allowed to operate from residential areas.<\/p>\n\n\n\n
Q. Can foreigners buy Property in Pakistan?<\/h3>\n\n\n\n
Ans.<\/strong> Yes, foreigners can buy property in Pakistan but after completing all legal formalities.<\/p>\n\n\n\n
Q. What inheritance laws apply in Pakistan?<\/h3>\n\n\n\n
Ans.<\/strong> Inheritance laws in Pakistan depend on religious affinities, Muslim Personal Laws for the Muslims and persons other than Muslims their personal laws.<\/p>\n\n\n\n
Q. Is the transfer of every immovable Property needs registration in Pakistan?<\/h3>\n\n\n\n
Ans.<\/strong> Transfer in the case of immovable property of the value of Rs 100\/- and upwards only be made by a registered sale deed.<\/p>\n\n\n\n
Q. An overseas Pakistani without visiting Pakistan can buy Property?<\/h3>\n\n\n\n
Ans.<\/strong> Yes, without coming to Pakistan an overseas Pakistani can buy property in Pakistan.<\/p>\n\n\n\n
Q. What are the documents required to legally own a house?<\/h3>\n\n\n\n