Property Mutation: What Is It?
To avoid future disputes, it is essential to follow the legal procedure when purchasing an immovable asset such as land or an apartment. Property mutation, which permits the change of ownership title after the transaction has occurred, is one of the legal processes.
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All property transfers require a mutation since it involves notifying the local authorities of the new owner’s legal status. After the mutation procedure, the property is registered in the land revenue department under the new owner’s name. The ability to mutate enables the government to levy property taxes and is necessary for the connection of water and electricity.
When is it necessary to modify a property?
The following situations necessitate property mutation:
- The sale or acquisition of property
- Assets acquired through a will or as a gift
- An inherited asset
- An acquisition done using a power of attorney (PoA)
Various types of mutations
Non-agricultural Land Mutation
The mutation of non-agricultural property, such as apartments, standalone homes, and residential lots, among others, is not require but advised at any time following the registration of the property. The right in the selling deed is not lost if a mutation is not made. This suggests that the buyer’s title will be untouch and that they will continue to be the property’s owner. The owner will not be connected to electricity and water, and they will not be responsible for paying the municipal tax if they do not mutate in these buildings.
Agricultural land Mutation
If we’re talking about agricultural land, mutation is crucial. Without modification, the land title cannot be transfer to the new owner. The owner’s name and the mutation need to be record in the revenue records. This step is essential because compensation is given to property owners listed in the local authorities’ revenue records in the event that the government acquires their land.
It is important to remember that a mutation certificate is necessary for the resale of a property even though the process is optional in this instance. The sale might be in jeopardy if it’s missing.
Mutation process
Each State has a different documentation process for changing a property’s ownership and associated costs. You can check to see if an online mutation process is available in your state as other states, including Bihar and Haryana, have already established one. Nonetheless, the owner must go in person to the municipal office after completing the online process. These are the general steps involve in converting a property:
Application submission
The purchaser must submit an application for mutation to the local government or tax office. Moreover, include the owner’s information in the application form, including personal information, the address of the property, the date of registration, and the type of transfer (such as a gift or a sale deed).
Payment of fees
Demand Draft must be use to pay the application cost. The cost could change depending on the State.
Including the documents
Attach the needed papers to the application form & demand draught after the fee has been paid. A few other documents required for the mutation procedure include:
- A replica of the sales contract
- Affidavit and indemnity bond
- A recent tax bill for the property
- A death certificate for inheritance purposes or a will
- A copy of the will or the succession certificate, if appropriate.
Application processing
Once the owner has submitted all necessary paperwork, the revenue inspector and assessing officer will check the paperwork. After processing the application, the officer could additionally inspect the property. Most of the time, after handling the request, a Mutation Certificate is issue.
A property’s modification is record as proof of a property transfer. To make sure there is no fraud going on, it is advisable for buyers to look into the property’s mutation.
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