Property Matters
Property Matters:
Whether you are a property dealer, investor, landlord or tenant you will need to be guided through the maze of property law such as Transfer of Property Act 1882, Sindh Rent Premises Ordinance 1979 and Land Acquisition Act 1894 that you will encounter. Our law firm is consistently trying to achieve the best deal for our clients, whether that’s negotiating a saving on a residential sale or out maneuvering a competing bid to secure a site for our client. We get “under the skin” of each individual transaction and take a proactive and creative approach for finding out the solutions. Our focused areas includes, the Sale of properties, Issues relating to the Landlord and Tenant, Property Acquisition, Disposal and property conveyance.
Our commercial lawyers advise on Purchase and Sale of property, drafting and advising on leases, property law issues, creating and reviewing sell and purchase agreement terms, licensing law and planning law and construction law matters.
Our legal team has vastly experienced the dealings with the issues related to the real estate as pertaining to title, possession etc. real estate, residential properties and industrial property is dealt by KDA, MDA Board of Revenue, Goth Abad Scheme, Katchi Abadi Authorities in Karachi and our legal team is well competent to prosecute and defend the title rights of our valuable clients against these departments.
Acquisition and sell of properties:
Conceptually the creation of a proprietary interest and its transfer from one person to another has a little in common. Legally speaking, someone owns a property when they possess a ‘title’ for it. In Pakistan, a transfer of property basically comprises the transfer of the title of a landholding from one person to another.
This transfer can take place in a number of ways such as sale under section 54 and doesn’t merely imply a sale. It can also include the concerns of Mortgage under section 58, Gift deed under section 122, Lease under section 107, and Exchange under section 118.
As a law firm we, Draft a suitable sale purchase agreements. Payment of stamp duty, capital value tax, Town tax and registration fee, according to the valuation table and prescribed fee. The Deputy District Officer Revenue and the District Officer Revenue, at Town and city level respectively, issue a “No Objection Certificate” in favor of the Seller permitting the sale of the property, provided that the entire amount due and payable in respect of the property has been satisfied.
Landlord & Tenants:
Preliminary all aspects of landlords and tenants are dealt under the Sindh Rent Premises Ordinance, 1979 which has prescribed the substantive and procedural mechanism of all landlord and tenant issues such as agreement between the landlord and tenant, fair rent and its limit, payment of rent, repairs, eviction, delivery of vacant possession, change in ownership, co-ownership, penalties if there are any and compensation are dealt by the controller appointed by the government therein and all disputes are made through the application.
Property conveyance:
The Conveyance Deed must be executed before the registering authority. Execution of the Deed is done before the Sub-Registrar of Conveyance/Assurances of the area, official responsible under the Registration Act. Registration of the Deed automatically follows the execution of sale deed. A receipt is issued immediately, but the Deed is delivered a few weeks later. The name of the buyer is recorded in the new deed, showing the change in ownership.