BUYING LAND
By aoguntu
@aoguntu (1)
August 20, 2006 12:13pm CST
A group of people are interested in starting a land buying club. Is there a standard agreement one can get off the shelf or it has to be a bespoke one.?
1 response
@ssh123 (31073)
• India
20 Aug 06
You have not specified what country this group wants to buy the land. I am from India. The law of the land is, the group should be registered and the land can be purchased with a SALE DEED, registered at Registrar's office of the State, after paying registration fee. The Sale Deed is printed on Stamp Paper (approximately 12.5% of the value of the land). After registration, land tax should be uptodate. There is what is known as ENCUMBRANCE certificate, in which the new buyers should appear. This can be obtained from the Registrar's office. The title of the land has to be transferred to the buyer's name.
