Laws dealing with acquisition, purchase and sale of immovable property

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This explainer deals with the purchase and sale of immovable property in India and various modes of acquisition of property. The same is governed by the Transfer of Property Act, 1882 (“TP Act”); the Foreign Exchange Management Act,1999 (“FEMA”) and FDI Master Circular issued by the Reserve Bank of India on the subject matter. The explainer also aims to discuss foreclosed properties (property, which was kept as collateral for a home loan or mortgage but acquired by the money lender due to non-payment of three or more Equated Monthly Installments (EMIs)), the purchase of which is governed by the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (“SARFAESI Act”).

Foreclosed properties are generally expected to be auctioned off at rates lower than their true market values.

You can approach the court to raise disputes over land and property for various reasons including claim on ownership etc

Complaints may be filed regarding e-services, misleading advertisements, restrictive trade practices, spurious/defective goods, food etc.

If you are being thrown out of your shared household (house) by your harasser, the Court can issue a residence order in such a case.

Two aspects to consider when buying a land or house, is knowing whether price of house is fair and dispute free ownership.

Yes. You can get a loan from the bank to purchase an immovable property by using the same property as the collateral/security.

What are the laws being discussed?