Wednesday, April 26, 2017

Possession

Possession
Possession - Exclusive
Actual possession means a right to have and retain the property until it is challenged and the contrary is proved. A person who establishes a better right to possess than the other would be the owner and thus possession is a vital essential ingredient of ownership.
Indian law confers ownership to a person who has uninterrupted possession for a quite long period, which is called adverse possession. On the other hand, if the owner is not in possession of his property, he loses his ownership. Thus ownership is finally based on possession.
If a building is transferred or sold, the solicitor has to verify that the property tax has been fully paid up to date and there is no arrears, pending due or there is no appeal or claim by any civic authority. This can be verified in the guarantee given in the deed and also in property tax statement or receipts.
In addition to the above, the client may be advised to make enquiry in person at the spot of the property about the possession, particularly if it is a vacant site or the owner is residing outside of the property.
Possession - Adverse
Adverse possession is a concept whereby title to a property comes to rest in a person who has no right thereto, but who asserts a right thereto, openly, continuously and hostilely against all the world including the real owner, for 12 continuous years.
If a person does so for this statutory period, they are said to `prescribe' title to the property. Such possession which is `open', `continuous' and `hostile' is called adverse possession, since such possession is adverse to the interests of the real owner.



No comments:

Post a Comment