Friday 16 May 2014

ADDITIONS, ALTERATIONS AND CANCELLATIONS TO PROPERTY DOCUMENTS

(Bangalore property|apartments|flats|lands for sale in Bangalore)
Documents are the record of various transactions; they contain certain terms, conditions, consideration amount,and names of the parties to the transaction, date of the transaction, clear and complete description of the subject of transaction, so as to make them easily identified. For example; Sale Deed of a property contains the origin, flow of the title, present status, names of Seller and Purchaser, consideration amount, elementary right and brief description of the property with measurement,construc­tion and boundaries.They are the perma­nent records, which are relied on for generations.Such documents must be legible, clear, readable, and free of error and should not create any doubts or disputes.They reflect the terms of transaction for which both the parties have freely con­sented. 
 At times, some additions, alterations, cancellations are inevitable, which are noticed at the time of execution.Any such alterations, cancellations, additions have to be done before presenting the document for registration. All such modifications should be authenticated by full signature of all the parties to the documents.But, signature of witness is not necessary for such modifications.Only full signatures and not initials or short signature should be insisted. For cancellations, the original words should be neatly struck off; it should be signed by parties to the document.
Erasing with fluid should not be used. Registering Authority records such additions, alterations, cancellations page wise on the document itself. This validates the additions, alterations, cancellation etc.Any modifications done after the registration are not valid and do not form a part of the document. Moreover, the document itself becomes invalid.Copies of the registered documents are maintained at registering Offices and certified copies issued by such Authorities also record on certified copies the number of cancellations, additions and alterations done before registration.They do not contain anything added, deleted, modified after registration.So, proper care should be taken so that all the modifications are done before registration under the full signatures of all the parties to the transac­tions. If anything has to be changed after registration a separate Rectification Deed has to be executed.
Filling up the blanks
Some documents may have blanks as the required information will be available only at the time of execution. Often date of execution is left blank, until the date is finalised. The details of demand drafts, cheques like number, name of Bank, branches are all left blank. All such blanks have to be filled up before presenting the document for registration and should be authenticated by all the parties to the document or Executor under full signature.
Attestation
Attestation means witnessing the documents.Certain documents like Will, Agreement to Sale, Sale Deed require attestation.Execution of the documents should be witnessed by two Persons, who are Major and of Sound mind. Both the witnesses should affix their full signature and should furnish their address. Attestation is not necessary in case of certain documents.
Thumb Impression
There are many people who cannot sign. Thumb impression of such people is taken for execution of documents instead of signature. Left hand thumb impression (LTM) in case of males and Right hand Thumb Impressions (RTM) in case of females have to be obtained on documents for execution. Brief description “LTM   or   RTM of Sri/Smt..     “has to be written immediately below the thumb impression. As the persons, who affix thumb impression are illiterate, who cannot read or write, the entire contents of the documents should be read over and explained to them and a separate note to that effect has to be annexed to the document preferably signed by an Advocate.
Thus, the transfer or assignment of right, title and interest over the properly, irrespective of the nature of transfer, entirely depends upon the Deed of Conveyance. Any ambiguity, inadvertent addition or deletion in the Deed may give rise to disputes. Therefore, to avoid any unsavoury situations care should be taken while drafting the property documents. 
Possession of property 
It is very important that, the Transferor transfers possession of the property in favor of the Transferee. It is not necessary that actual physical possession has to be handed over to the Transferee, but even grant of constructive possession will transfer and create right and interest over the property in favor of the Transferee.
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