what is a sale of immovable property?
929924
Sale of immovable property\n\nA sale is transfer of ownership of property by one living person to another living person for a mutually agreed price paid or promised or part paid or part promised. The Contract Act, the Transfer of Property Act, the Registration Act, the General Clauses Act, and acts of local bodies govern it. It is transfer of all the rights, title and interest with easements and privileges of the seller to the buyer, for the latter's use of the property as the absolute owner. \n\nSale deeds \n\nThe instrument of sale perfected by execution and registration is called Deed of Sale. The word 'convey' is also understood as 'sale', thus a deed of sale is also known as deed of conveyance. And both the seller and buyer must execute the deed of sale. \n\nA seller, a buyer and the description of the property to be sold, are the most important ingredients in a sale. Other key points are that it must be a transfer; and such a transfer must be of full ownership. The sale consideration would be the price paid or promised to be paid. \n\nTransfer of property \n\nThough a sale is a transfer of property, every transfer of property is not a sale. This is because a property can also be transferred to a person by way of lease, mortgage or gift. In these cases, the transfer is for a limited period only and no buyer or seller is involved. The seller must have a clear and marketable title to the property and must be competent enough to convey the property and should not suffer from any disability. He must be a person, major in age and of sound mind, and if the property is not his own, he must have the authority to transfer it. \n\nTitle to property \n\nThe title to property on sale must be free from all encumbrances, claims and court proceedings. One must note that encumbrance on a property will not make a title marketable. Existence of encumbrance found after completion of sale obligates the vendor to indemnify the purchaser, and an encumbered property cannot be forced upon a purchaser. \n\nThe document of title is said to be defective if there is a pending court case, a demand on the property easement right, or acquisition proceedings. As regards sale of property of a minor, permission must be obtained from the court concerned, as a minor cannot enter into a contract. However, in case of sale to a minor, it is enough if a guardian represents him, after obtaining the court's permission. \n\nExecuting a sale deed \n\nThe execution of a deed of sale and payment of the sale consideration are mutual. A sale deed is always executed against payment of the price and this is the essence of contract for sale. Payment can be made on a date mutually agreed, which may be a future date after registration of the sale deed. However, payment by way of gold ornaments or other valuables of equivalent amount may satisfy a seller but the law would look at it as 'barter' and not as sale. Therefore, price payable for sale of property should be in terms of money only and not otherwise. \n\nAccording to the Transfer of Property Act, sale of a tangible immovable property of value below Rs 100, can be effected either by a registered document or by delivery of the property, If, however, the value of the immovable property exceeds Rs 100, registration before the registering authority concerned is mandatory. In a situation where a sale of an immovable property of value exceeding Rs 100 is made under an unregistered deed and the possession is delivered, the purchaser will not be able to claim legal ownership of the property for the simple reason that the deed is not a registered document. \n\nA sale deed perfected by execution and registration will not make the sale valid. The important elements of sale as stated must be present in a sale deed. If, for example, the price of property were not determined, even though the sale deed may be perfected by registration, it would be invalid in the eyes of the law. \n\nTypes of transfers
823428
If the sheriff is selling something in a foreclosure sale that means that the owner was sued, lost, failed to pay the judgment and the property is being sold to satisfy the debt.\nThe owner could have gotten extensions during the lawsuit, the post judgment proceedings and the appeal.\nAt this point, time has run out.
954760
Probably you may want to list it on the Web.\n\nIf it is not a one-shot situation: as in you are renting-out units, consider building your own site. A resource for this  is: http://selling-a-service.first411.com\n\nSorry - but you need to be more specific in your question so i took the liberty of sharing 2 possible options.\n\nHope this helps you. Good Luck!
777132
Huh?  What is the exact nature of this question?\n\nProperty taxes are not "sold", they are paid in semi-annual installments by the title holder of the property.\n\nThe property may be sold as a result of default (nonpayment) of property taxes and is usually done so at auction to the highest bidder.  Then it becomes the property of that person, a tax sale deed is recorded in county records to evidence the transfer and the sheriff will remove any occupants once eviction proceedings occur.  \n\nThe title holder of the property may pay off bonds that are taxed on the property too.  This just lowers the annual property tax assessment by the amount of the bond payments.\n\nThe only other and final answer I can think of is when the title holder attempts to acquire land patents from the state and federal governments in order to hold the land alloidally.  In such case, the title holder pays off all bonds and pays property taxes for 99 or 100 years and is removed from the property tax and property assessment rolls and is free from zoning and other regulatory oversight.  Unusual, long process when and if it is allowed.
54119
It is common for mineral rights to be sold separately from the land ownership.  If this has occurred to a specific piece of property in the past giving complete and unfettered ownership of those minerals to a third party, yes, that individual (or company) can sell them to anyone willing to purchase them.
917323
You would need to be more specific to get a good answer.  It depends on a number of factors - what is being sold, is the person selling it an expert in that type of item, what state are you in, etc.  Overall, Article 2 of the UCC (Uniform Commercial Code) governs the sale of goods, but different states have adopted it in different forms.\n\nIf you can provide a bit more detail, you'll get a much better response.  Good luck to you -
936376
Yes, you can sell part of your title if you wish.\n\nAre you saying that the part you'll be retaining will be flying freehold, or the part you'll be selling?\n\nIf it's the part you're selling, you may be better off granting a long-term lease rather than selling the freehold. It's very hard to get a mortgage for a freehold flat or maisonette and the burden of positive repair covenants (for example) wouldn't bind subsequent purchasers and the buyer may have a problem if the shared roof, say, needed repair.\n\nIf it's the part you're retaining that will be flying, see if you can sell the freehold reversion and have a lease granted to yourself.\n\nI can't really picture the problem, you'd be best to consult a good conveyancing solicitor.
2689
Hire purchase (HP) is the legal term for a conditional sale contract developed in the UK, and now found in India, Australia, New Zealand, and other states which have adopted the English law concept. In cases where a buyer cannot afford to pay the asked price as a lump sum but can afford to pay a percentage as a deposit, the contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments.\n\n\n\nA lease or tenancy is an interest in personal property or real property given by a lessor to another person (usually called the lessee or tenant) for a fixed period of time, and the lessee obtains exclusive possession of the property in return for paying the lessor a fixed or determinable consideration.\n\nIn law, there are two types of property:\n\nReal property is land or any permanent feature or structure above or below the surface. Ownership of land is an aspect of the system of real property or realty in common law systems (immovables in civil law systems and Conflict of Laws). \nAll other property is considered personal property or personalty in common law systems (movables in civil law and Conflict of Laws), and this property is either tangible or intangible, i.e. it is either physical property that can be touched like a computer, or it is an enforceable right like a patent or other form of intellectual property. \nThere are three separate levels of rights or interests affecting both forms of property. In descending order of importance they are:\n\nownership, \npossession or \ncontrol and use. \nThe legal documents that transfer these rights are respectively: conveyance/transfer, lease/tenancy, and bailment/pledge for tangible personalty, assignments and licenses for intangibles.
713637
Get another buyer,\nWhy must you sell to this particular person that dont show interest to your property?\nYou cant do anything if he doesnt show any interest in it.
1036765
i am in AZ and local law and custom will prevail.  what you have is adverse possession.  these things are controlled by time frames such as to close the Ingres/egress off it needs to be open and notorious and done like for 24 hours every 7 years.  there should be a time frame in the 7 to 10 year range that they would have had to close off physical access.  physical access is different then legal access.  most areas require physical access to all lots.  your best bet is to contact first a local real estate broker who specializes in land not in houses, it will be under commercial real estate in the phone book. he can answer most questions. but you will be in court to get it done, and the real estate guy will know the right lawyer.  this is a highly technical area of law make sure you get someone who does this for a living, a divorce lawyer will not be much good
675676
Notice.\n\nNotice statute\nA later buyer who pays fair value for the property and does not have notice that there were any other earlier conflicting interests, wins and will have priority over any later recordings.\n\nStates that follow the Notice statute: Alabama, Arizona, Connecticut, Florida, Illinois, Iowa, Kansas, Kentucky, Maine, Massachusetts, Missouri, New Hampshire, New Mexico, Oklahoma, Rhode Island, South Carolina, Tennessee, Vermont, and West Virginia.
1043738
depends on your state. In mine, it is 30 days if the property was sold.
677212
Letter of Intent\n\nKind of like a pre-contract where you agree to purchase (real property or goods) at certain basic terms, with the rest of the terms to be agreed in the final contract.
1176474
you need to clarify your question.  You sold property... what exactly was the purpose of the property prior to sale?  Was there farming, rental or business use? Was it property belonging to an exempt organization that sold it to a for profit purpose?  Please clarify.
801146
At the time that the estate of the decesased transfers title to the property to a beneficiary, the estate is deemed to have "sold" that property at its current fair market value. If the property was used as a principal residence by the deceased prior to his/her death, no income tax will be payable by the estate on the increase in value between the deemed selling price at death and the original cost of the property to the deceased. \n\nThe beneficiary of the estate is deemed to have acquired the property at its current fair market value (cost base) on the date that title to the property transferred to that beneficiary. If the beneficiary decides to sell the property immediately, the liklihood is that there will be little or no capital gain since the selling price will be very close to the beneficiary's cost base. To the extent that there is a gain it will be subject to income tax in the hands of the beneficiary. At the present 50% of the gain would be taxable.\n\nIf the beneficiary moved into the property and used it as a principal residence prior to selling it, tax may be avoided entirely on any capital gain realized on a subsequent sale. Care must be taken to ensure that the property is in fact the principal residence of the person making the subsequent sale. Needless to say,  the Canada Revenue Agency is cognisant of the fact that people do try and use the exemtion on sales of a personal residence as a tax doge in some circumstances and look carefully at these transactions which are a matter of public record.
813792
Sale by instalment is defined as a marketing strategy by which customers are offered goods and services with the agreement that payment will be by instalment.  another name for sale by instalment are leasing, hire purchase.
1081629
You can force the sale, or ask the court for a partition (like Solomon splitting the baby), which will trigger a sale since you cannot really split a house (like you could land).  Contact a lawyer, who can tell you the procedure for your state.