{"id":1614,"date":"2021-01-22T09:56:21","date_gmt":"2021-01-22T09:56:21","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=1614"},"modified":"2021-01-22T09:56:25","modified_gmt":"2021-01-22T09:56:25","slug":"transfer-of-title-under-rera","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/","title":{"rendered":"Transfer of Title under RERA &#8211; A Complete Guide"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The transfer of title under RERA means it is an act of transferring the property ownership from one individual to another. Before transferring the ownership to other the promoters and the allottees must know all RERA laws regarding the transfer of title under RERA. Real Estate Regulatory Authority or RERA 2013 is an exciting law passed by the Government of India, which defines the rules and regulations that must accurately be followed; otherwise, the trespassers are subjected to punitive actions. Scroll down to check more information regarding the transfer of title under RERA.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e3082b01f0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e3082b01f0\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/#Section_17_of_the_RERA_Act_2016\" title=\"Section\n17 of the RERA Act, 2016 \">Section\n17 of the RERA Act, 2016 <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/#What_are_Local_Laws_%E2%80%93_An_Overview\" title=\"What\nare Local Laws? \u2013 An Overview\">What\nare Local Laws? \u2013 An Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/#Insurance_of_Title_for_Protection_%E2%80%93_Transfer_of_Title_under_RERA\" title=\"Insurance\nof Title for Protection \u2013 Transfer of Title under RERA\">Insurance\nof Title for Protection \u2013 Transfer of Title under RERA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/#Maharashtra_Rules_as_considered_under_the_RERA_Act\" title=\"Maharashtra\nRules as considered under the RERA Act\">Maharashtra\nRules as considered under the RERA Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/#Maharashtra_Rules_2017\" title=\"Maharashtra\nRules, 2017\">Maharashtra\nRules, 2017<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/transfer-of-title-under-rera\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_17_of_the_RERA_Act_2016\"><\/span>Section\n17 of the RERA Act, 2016 <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li><strong><em>As per Section 17 (1) of the RERA Act, 2016<sup><a href=\"http:\/\/legislative.gov.in\/actsofparliamentfromtheyear\/real-estate-regulation-and-development-act-2016\" class=\"text-primary\"><strong><em>[1]<\/em><\/strong><\/a><\/sup>:<\/em><\/strong><\/li><li>The promoter must accomplish the registered conveyance deed in favour of an allottee with the complete proportionate title in the common area to the association of the allotted. The promoter must also transfer the apartment to the allottees, the physical possession of the plot, and the common areas to the allottees and other documents related to the title with a particular time provided under the local laws.<\/li><li>The provision to Section 17 (1) under the <strong>RERA Act, 2016<\/strong> defines that in the absence of any local law conveyance deed in favour of the allottees should be carried out by the promoter within three months from the issuance date of occupancy certificate.<\/li><li><strong><em>As per Section 17 (2) of RERA Act, 2016:<\/em><\/strong><\/li><li>After transferring physical possession to the allottees and obtaining the occupancy certificate, it&#8217;s the promoter&#8217;s responsibility to hand over the essential documents and plans including common areas to the association of the allottees\/competent authority.<\/li><li>Section 17 (2) provision of the RERA Act defines that in the absence of any local law, it is the promoter&#8217;s responsibility to hand over all the vital documents and plans to the competent authority or the association of the allottees within thirty days after getting the occupancy certificate.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_Local_Laws_%E2%80%93_An_Overview\"><\/span>What\nare Local Laws? \u2013 An Overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Local laws are related to note that before RERA (Real Estate Regulatory Authority) that being took into force, many state legislations were already in effect on a similar subject. Apart from the Maharashtra Regulation and Development Act, 2012, none of these laws has been replaced by the Real Estate Regulatory Authority, and thus they continue to remain in force. For example, even in Maharashtra, this Act as mentioned above has been cancelled. The <strong><em>Maharashtra Apartment Ownership Act, 1972, (MAOA)<\/em><\/strong> and the <strong><em>Maharashtra Ownership Flats<\/em><\/strong>(Regulations for the same, management, promotion of construction, and transfer) <strong><em>Act, 1963, (MOFA)<\/em><\/strong> have not been cancelled and continued to be in force.<\/p>\n\n\n\n<p>On\nthe other hand, suitable Governments which include the States Government or\nUnion Territories, under the Section 84 of Real Estate Regulatory Authority\n(RERA), are allowed to make rules for carrying out RERA provisions and several\nstates in India have already advised rules. For example, Maharashtra has\nalready notified the <strong><em>Maharashtra Real Estate (Regulation and\nDevelopment) Rules, 2017 (Maharashtra Rules)<\/em><\/strong>. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Insurance_of_Title_for_Protection_%E2%80%93_Transfer_of_Title_under_RERA\"><\/span>Insurance\nof Title for Protection \u2013 Transfer of Title under RERA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Suppose the buyer accomplishes to conduct due diligence detailed. In that case, there is always a chance of not identifying a defect or any error in the title of the property after the <strong><a href=\"https:\/\/swaritadvisors.com\/rera-registration\" class=\"text-primary\">RERA Registration<\/a><\/strong> which can endanger the interest of home buyers and lenders.<\/p>\n\n\n\n<ul><li>The title insurance helps in\nprotecting the buyer of the property against the risk related to a problem in\nthe buyer&#8217;s property title, which could not be identified regardless of the performance\nof reasonable due diligence.<\/li><li>This insurance also protects\nvarious parties in a property transaction that is developers and the succeeding\nhome buyers from the loss due to title-related issues.<\/li><li>Title insurance covers all the\nfinancial losses suffered by the developer, lender, landowners, housing society\nor any other who is eligible policyholder due to the defect in the land&#8217;s title\nand legal expenditures experienced to settle the title argument.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Maharashtra_Rules_as_considered_under_the_RERA_Act\"><\/span>Maharashtra\nRules as considered under the RERA Act<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Rule\n9 (2) (under the Maharashtra Rules) as mentioned under the RERA Act deals with\nthe transfer of title under RERA (Section 17).<\/em><\/strong><\/p>\n\n\n\n<p>According\nto the Rule 9 (2), for a single building project, if there is no period for\nassigning the title to a legal company or entity of the allottees is agreed upon,\nthe promoter is bound to accomplish a conveyance.<\/p>\n\n\n\n<ul><li>Within the three months from\nthe date of issuance of the occupancy certificate or,<\/li><li>Payment of full deliberation by\n51% of the total allottees whichever is earlier.<\/li><\/ul>\n\n\n\n<p>For\na larger building project including more than one building, in relation to the\ntransfer of title under RERA of a wing or a building, there is no period for\nconveying the structure of that wing or building.<\/p>\n\n\n\n<ul><li>Within one month from the date of <strong><a href=\"https:\/\/swaritadvisors.com\/private-limited-company-registration\" class=\"text-primary\">Company Registration<\/a><\/strong> or the Co-operative society, the association of the allottees is duly established.<\/li><li>Within three months from the date of issuance of occupancy certificate whichever is earlier.<\/li><\/ul>\n\n\n\n<p>Similarly,\nin some cases where there is no agreement on the period of transfer the title\nunder RERA of a Promoter in respect of the complete or attached land under all\nthe building along with the basements structures and podium constructed in the\nplan or design, the promoters are bound to accomplish the conveyance of a complete\nand inseparable land underneath all building jointly or otherwise.<\/p>\n\n\n\n<ul><li>Within three months from the\ndate when an Apex Body or the allottees&#8217; association is duly established.<\/li><li>Within three months from the\ndate of issuance of occupancy certificate to the last of the buildings&#8217; design\nor plan or layout whichever is earlier.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Maharashtra_Rules_2017\"><\/span>Maharashtra\nRules, 2017<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li><strong><em>As per Rule 9 (2) (i) of the\nMAHA RERA Rules, 2017<\/em><\/strong>: The promoter must carry out\nthe conveyance within three months from the date the allottees in such plot\nhave paid full attention to the promoter.<\/li><li><strong><em>As per Rule 9 (2) (ii) of the\nMAHA RERA Rules, 2017<\/em><\/strong>: If there is no period for\ntransfer of title under RERA of the promoter to the legal entity of the\nallottees is agreed upon, the promoter must accomplish the transportation\nwithin the three months from the date of issuance of occupancy certificate or\n50% of the total number of allottees in such wing or building have paid the\nfull consideration to the promoter or whichever is earlier.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The rules and regulations related to transfer of title under RERA should be followed strictly. It is a critical process; therefore, all the regulations must be adhered to. In case you need any additional information on the same or RERA Registration, please contact <strong><a href=\"https:\/\/swaritadvisors.com\/\" class=\"text-primary\">Swarit Advisors<\/a><\/strong>. Our experienced and skilled experts will cater to all your needs regarding the transfer of title under RERA.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/rera-benefits-for-nri-buyers\/\">What are the RERA Benefits for NRI Buyers?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transfer of title under RERA means it is an act of transferring the property ownership from one individual to another. Before transferring the ownership to other the promoters and the allottees must know all RERA laws regarding the transfer of title under RERA. Real Estate Regulatory Authority or RERA 2013 is an exciting law [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":1615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[37],"tags":[285],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1614"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=1614"}],"version-history":[{"count":3,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1614\/revisions"}],"predecessor-version":[{"id":1618,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1614\/revisions\/1618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/1615"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=1614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=1614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=1614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}