Advocate for collector Leasehold to Freehold property / Land
In case of a freehold property (plot or flat), the owner’s right over the property is full and unconditional (within the provisions of the laws of the land). The title paramount (the President of India acting through the land-owning agency) has conveyed the property in favor of the purchaser by conveyance or sale deed. There are no restrictions on the rights of the latter to further sell and transfer the ownership of that property. In case of a standalone property, the owner owns the property as well as the land on which it stands. In case of a multi-level property, land ownership is usually divided in proportion to the floor area of each owner. The ownership of a freehold property is transferred to another buyer through registration of sale deed.
In a leasehold property, on the other hand, the land-owning agency gives the land on lease to a lessee for a stipulated period. The land ownership rights remain with the lessor. The lessee pays a lease premium and an annual lease rent as fixed by the lessor. Further, the lessee requires the lessor’s prior permission if he wants to sell the property.
Randive and Kadam Associate are the best Advocate for collector Leasehold to Freehold property / Land.