4 steps for transfer of your property 'Registry'

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danijohn
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4 steps for transfer of your property 'Registry'

Post by danijohn » Tue Sep 21, 2021 4:18 pm

In Pakistan, the documents used for immobile property transfer are known as 'Registry.' The word registry is derived from the term register, which means recording anything anywhere. Transfer of real estate authority is easy when you are aware of the process.

Registry or registration is necessary for every property, whether a car, bike, or real estate

Let's suppose you want to buy a car then the vehicle excises department will provide you a book called Registration book. The book contains your engine number model number and shows that you have the ownership rights of the specific vehicle. Likewise, for real estate ownership, the paper that includes the transfer details and provides information on property ownership is called the registry.
According to Pakistan Registration Act clause 17, 'Registry' is necessary to transfer immovable real estate. The citizens of Pakistan should be aware of the registration process so while investing in real estate r vehicles, they do not have to face any issues.

Here we have elaborated the process of registry in four easy steps. So let's get started:


Seller's document:

It is the most crucial step of registry – no matter you are purchasing a shop or house or any industrial and agricultural property/plot, you must have the relevant documents of the seller. The seller's documents are important as they will save you from any potential complications and cases in the future. One important aspect here is that when you obtain the seller documents, register the property in your name in 14 days; otherwise, the transfer will be canceled.

Stamp Paper:

Make sure that you have obtained the right stamp for the transfer and registry after the approval of the real estate owner and realtor. The necessary details like buyer and seller name and ID card numbers are written down on the backside of the stamp paper.

Role of relevant Registrar:

The council registrar is responsible for checking all the relevant details on stamp paper. He would ensure that there are details like sale and purchase amount, thumb impression witness signatures and identity card copies, etc.

Statements against the registry:

The registrar is responsible for making statements of both parties. He will take the pictures and will fulfill all the regulatory obligations. The property will be delivered in few days to the buyers' address after process completion.

jonesBeatriix
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Joined: Thu Sep 30, 2021 5:20 pm

Re: 4 steps for transfer of your property 'Registry'

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