Notary land is the type of land where the owner doesn’t possess any document for proving ownership of the property. In such case, the ownership of the land cannot be transferred by virtue of a registered conveyance/sale deed. So, when one transfers only the possession of immovable properties a deed of transfer of possession is written to show that only the possession of the said properties is being transferred by the transferee in favour of the transferor through notarization.
This means, there would be no legal documentation (the documentation approval that is carried out and approved by the sub-registrar). Technically, you won’t possess any right over the land even if you buy it. As there are no measures of safety in such matters as you cannot become the legal owner of the said properties, such deals are not advised. At the end, it is up to the transferee if he/she wants to take the risk in such a deal.
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What is a notary land? What things do i keep in mind before purchase it?
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December 15, 2020
2020-12-15T11:24:11+00:00 2020-12-15T11:24:11+00:00Comment
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