Question

name and discuss two methods through which ownership may be transferred

Answer 1

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☑️ The two methods by which ownership may be transferred are by method gifting property or by selling the property. Explanation: A sale deed is made through a document by which the ownership rights are transferred. It is a document that gives evidence of an individual's ownership rights of a property.☑️

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Answer 2

Ownership means that a person has and owns a property. The owner has the right to buy, the right to use, the right to sell and the right to rent the property.

Explanation:

• An owner can transfer his property by gifting or selling it. A sale act or any document transferring ownership of a property is a document proving the ownership of the property by a person. Property rights can only be transferred when a selling deed is executed and registered in favor of the buyer.
• A conveyance document shall be carried out to transfer title from person to person. In general, an owner can transfer his property, unless such transfer is prohibited by a legal restriction. Under law, anyone who owns and is competent to contract can transfer a property it in favour of another
• If the owner gives a POA (Power of Attorney) to another person, the person may sell it under this authority. A POA grants others the right to act in the owner's name. So if the POA requires only one person to manage the property, he can not sell it. This does not exist.
• The selling agreement precedes a sales deed execution. The subsequent deed of sale is based on the purchase agreement. The contract is entered into and signed on a non-judicial stamp paper by the seller and buyer. It also has legal meaning and can be submitted as evidence. The sale agreement is the foundation document on which the conveyance deed is drawn up. Any transfer contract by way of sale will be followed by a sales agreement. The sale agreement is also registered.
• Any property transfer instrument must be registered. The selling document and other related documents must be signed and registered in the office of the sub-registrar having jurisdiction over the property. Registration is aimed at preventing fraud and providing protection. This ensures that anyone dealing with property, where such dealings require registration, is able to rely on all transactions involving their titles with trust in the statements in the registered document.
• If the sale deed is not registered, a transfer of title to real estate is not valid. In order to pass specific titles in favor of the new owner, the registration of the person transferring a property in the name of the seller is important. Registration shall take place as prevalent in the State after paying the correct stamp duty.