Flat owners to get inheritance rights in Delhi
In a verdict ensuring that the city’s home buyers can have exclusive ownership rights and they do not have to struggle to sell it, obtain loan on it or leave it to their children as legally accepted endowment, the Delhi high court directed the land-owning agencies of the city to execute for flat buyers a “deed of apartment”.
The verdict comes as a big relief as it would help the buyer to hold, use, enjoy, transfer and mortgage their flats without running around the courts for every such transaction.
Till now, the owners do not have the absolute right and at present, the title of such property rests with the society, making securing bank loans hard. The directive is set in motion to change the scenario.
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Source: ExpressIndia.com
buying, deed of apartment, Delhi, Delhi high court, High Court, home buyers, Home loans, house tax, mortage flats, mortgaging, ownership rights, property tax, Realty News, selling, Tax
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