Property Mutation: What Is It?
Toavoidfuturedisputes,itisessentialtofollowthelegalprocedurewhen purchasinganimmovableassetsuchaslandoranapartment.Propertymutation, whichpermitsthechangeofownershiptitleafterthetransactionhasoccurred,is oneofthelegalprocesses.
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Allpropertytransfersrequireamutationsinceitinvolvesnotifyingthelocal authoritiesofthenewowner'slegalstatus.Afterthemutationprocedure,the propertyisregisteredinthelandrevenuedepartmentunderthenewowner'sname. Theabilitytomutateenablesthegovernmenttolevypropertytaxesandis necessaryfortheconnectionofwaterandelectricity.
When is it necessary to modify a property?
Thefollowingsituationsnecessitatepropertymutation:
Thesaleoracquisitionofproperty
Assetsacquiredthroughawillorasagift
Aninheritedasset
Anacquisitiondoneusingapowerofattorney(PoA)
Various types of mutations
Non-agricultural Land Mutation
Themutationofnon-agriculturalproperty,suchasapartments,standalonehomes, andresidentiallots,amongothers,isnotrequiredbutadvisedatanytimefollowing theregistrationoftheproperty.Therightinthesellingdeedisnotlostifamutation isnotmade.Thissuggeststhatthebuyer'stitlewillbeuntouchedandthattheywill continuetobetheproperty'sowner.Theownerwillnotbeconnectedtoelectricity andwater,andtheywillnotberesponsibleforpayingthemunicipaltaxiftheydo notmutateinthesebuildings.
Agricultural land Mutation
Ifwe'retalkingaboutagriculturalland,mutationiscrucial.Withoutmodification, thelandtitlecannotbetransferredtothenewowner.Theowner'snameandthe mutationneedtoberecordedintherevenuerecords.Thisstepisessentialbecause compensationisgiventopropertyownerslistedinthelocalauthorities'revenue recordsintheeventthatthegovernmentacquirestheirland.
Itisimportanttorememberthatamutationcertificateisnecessaryfortheresaleof apropertyeventhoughtheprocessisoptionalinthisinstance.Thesalemightbein jeopardyifit'smissing.
Mutation process
EachStatehasadifferentdocumentationprocessforchangingaproperty's ownershipandassociatedcosts.Youcanchecktoseeifanonlinemutationprocess isavailableinyourstateasotherstates,includingBiharandHaryana,havealready establishedone.Nonetheless,theownermustgoinpersontothemunicipaloffice aftercompletingtheonlineprocess.Thesearethegeneralstepsinvolvedin convertingaproperty:
Application submission
Thepurchasermustsubmitanapplicationformutationtothelocalgovernmentor taxoffice.Moreover,includetheowner'sinformationintheapplicationform, includingpersonalinformation,theaddressoftheproperty,thedateofregistration, andthetypeoftransfer(suchasagiftorasaledeed).
Payment of fees
DemandDraftmustbeusedtopaytheapplicationcost.Thecostcouldchange dependingontheState.
Including the documents
Attachtheneededpaperstotheapplicationform&demanddraughtafterthefee hasbeenpaid.Afewotherdocumentsrequiredforthemutationprocedureinclude:
Areplicaofthesalescontract
Affidavitandindemnitybond
Arecenttaxbillfortheproperty
Adeathcertificateforinheritancepurposesorawill
Acopyofthewillorthesuccessioncertificate,ifappropriate.
Application processing
Oncetheownerhassubmittedallnecessarypaperwork,therevenueinspectorand assessingofficerwillcheckthepaperwork.Afterprocessingtheapplication,the officercouldadditionallyinspecttheproperty.Mostofthetime,afterhandlingthe request,aMutationCertificateisissued.
Aproperty'smodificationisrecordedasproofofapropertytransfer.Tomakesure thereisnofraudgoingon,itisadvisableforbuyerstolookintotheproperty's mutation.
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