Monday, 3 July 2017

#2Article: A Perfect Sale Deed

A sale deed is one of the most valuable legal documents in a purchase or sale of a property. Sale of any tangible immovable property exceeding its value rupees 100/-,  the registration of a that property is compulsory under the provisions of law.


Requirements of Sale Deed:
  • Title: It explains what kind of document is it. It is mentioned in bold at the top of the Document.
  • Date Of Execution: Date of execution must be mentioned after titling the document and before the main contains.
  • Parties Details: Proper Information of Parties to The Deed including their names, age and addresses of for transaction 
  • Description of the property: A valid sale deed must contain full description of the property which is the subject matter of sale. It must include identification number, total plot area, construction details as well as its location with its surrounding areas. A schedule of the property must be included in the sale deed which will define the exact location where the property is actually situated.
  • Agreement: An agreement for sale is the main requirement of the drafting of the valid sale deed and both the parties must mutually settle the terms and conditions of the agreement so that it will not affect the rights of the parties. A sale deed always precedes agreement to sell.
  • Consideration clause: A sale deed must include the clause stating the sale consideration/amount as agreed between the seller and the buyer which has to be paid by the buyer to the seller on the execution of sale deed. A sale amount should be clearly stated in sale deed as agreed in the agreement to sell so that there should not be any onus on the parties to the transaction.
  • Mode of payment: It is always the buyer who has to decide that how he is going to pay the sale consideration amount whether by Cash /Cheque/ Demand Draft and the same has to be agreed by the seller. 
  • Advance payment: If there is any transaction of token amount paid by the buyer to the seller then it has to be clearly mentioned in the sale deed, and how much is the remaining balance to be paid on the execution of the sale deed.
  • Property Title: A sale deed should contain the clause explaining title flow of the property. It must include how the property is legally given title to the purchaser from its very original owner.
  • Possession Clause: The possession of the immovable property will be transferred to the purchaser by the vendor once the registration process is completed. A clause in the sale deed must state when there will be actual delivery of the possession.
  • Indemnity provisions: ear all the statutory charges i.e. property tax, electricity charges, water bills, cess, society charges, maintenance charges and all other charges relating to the property before the execution of the sale deed. In case there is any encumbrance on the property, the seller needs to repay the loan amount and get the property papers cleared of the encumbrance. It is the duty of the buyer to verify the encumbrance status from the office of the registrar.
  • Default clause: An agreement for sale of immovable property should include the clause stating if there is any default by the vendor or the purchaser then the party who rescinds the contract need to pay damages to the other party for the breach of contract so that it will not affect to the execution of the sale deed.
  • Execution: On preparing Sale Deed, all the parties to the deed shall execute it by affixing their thumb impression or full signature with photo. Each page should be signed by the seller and buyer. Execution of the sale deed requires to be witnessed by two witnesses. 
  • Registration: According to Section: 17 of ‘The Registration Act, 1908’, the registration of a tangible immovable property is compulsory if the value of the respective property exceeds rupees 100/- and it is the registration of the property which makes the sale valid. For getting the registration done both the parties must be present before the jurisdictional sub-registrar office with the original documents within four months from the date of execution. A stamp duty has to be paid by the purchaser to the sub-registrar for getting the registration done. A certified copy of the registration document to be obtained for the future reference.
  • Original documents: Once the property gets registered under the registration act all the original documents of the sold property to be hand over by the seller to the purchaser. All the statutory rights along with ownership, possession, title, interest will get vested in favour of the purchaser.

Thursday, 8 June 2017

#1Article: Make Your Career in Law


CAREER, A Word containing various emotions in itself: Excitement, Worry, Tension,  Confusion bla bla bla... A career is actually a person's journey on route of one's work based on his education, knowledge, interest and capacity. It is always better to choose the career in your interest and not of others. There are many options to make career after 12th; one of them is A Field of Law.

Field of Law is one of the best career in India and also out of the India. It is a noble profession. It comes among the highest paid profession. Lawyer is not one a businessman but a professional.

HOW TO GET INTO LAW FIELD?

In India, there are 2 types of Degree Programs available in present:
  1. 5 years law course i.e. after 12th law program (B.A., LL.B.)
  2. 3 years law course i.e. after degree law program (LL.B.)
Person interested from any stream (science/commerce/arts) can apply for law program.
Prior there were no entrance exams to get admitted for law course but yes, now you have to crack the entrance exam which is mandatory for all.

OPPORTUNITIES AFTER LAW GRADUATION?

After graduating in Law, opportunities are like -
  1. LITIGATION:
    It means to to practice in courts of law. It is a tradition of career of law. To do practice in courts of law, one need to apply for SANAD Certificate and clear examination for the same within 2 years after it's application. 
  2. LAW FIRMS:
    Law firms are nothing but various lawyers in various field working under one roof as a combined business entity. Now-a-days, law firms are in trends. Pay Scale for even new advocates are also good here.
  3. JUDICIAL SERVICES:
    It is a good option for those who wants Government Stable Career. This requires either minimum experience of practice as an advocate or Clearance State Judicial Services Examination organized by the High Courts for their respective states. Also there is a option of Civil Services Examination conducted by the Union Public Service Commission, which is the most prestigious examination in the country.
  4. CORPORATE COUNCIL:
    This gives you opportunity to work with a company which contains job profile like drafting, vetting and negotiating contracts; ensuring and monitoring compliance, handling legal disputes, Finding Case Laws for Private and Public Sector like MNC, Private Companies, Banks, Public Sector Undertakings, LPO, BPO, KPO etc.
  5. ACADEMICS:
    This is also one of the best way to expand your knowledge by way of educating others. One may accept lectureship at any law college or private coaching sector on part or full time.
  6. JUDICIAL CLERK:
    These are legal assistants of Judge in courts of law. 
  7. POLITICS:
    Launching yourself in politics after graduating in law is another best option who are interested in it. It requires parallel qualities that of an advocate like confidence, public speaking skills and the ability to effectively formulate an argument.
  8. MEDIA:
    Like lawyer, a journalist also requires superior research and writing skill along with critical knowledge of the government and the legal system.
  9. SOCIAL WORK:
    This is better to join Non-Governmental Organizations (NGOs) who work for social causes after completing law course for those who are passionate about socio-legal issues.

SUPPLEMENTARY COURSES:


  1. COMPANY SECRETARY:
     It is a senior position in a private sector company or public sector organisation. Normally in the form of a managerial position or above. It is also known as Corporate Secretary or Chartered Secretary or Secretary. Institute of Company Secretaries of India (ICSI) is the sole body in India, which provides company secretaryship course. Those who want to do their course in Corporate Law, CS + Law is the best educational combination for their betterment in career.
  2. VARIOUS DIPLOMAS IN LAW: 
    There are various diplomas available in different laws. Doing diploma will help to increase one's knowledge in a particular law. Diplomas like Diploma In Tax Laws (D.T.L), Diploma In Labour Laws and Labour Welfare (D.L.L. & L. W.), Diploma In Intellectual Rights (D.I.P.R.), Diploma In Corporate Laws(D.C.L.), Diploma In Human Rights, Diploma In Cyber Law, Diploma In Medical Jurisprudance, Diploma In Banking Laws (D. B.L.), Diploma In Arbitration, Conciliation and Alternative Dispute Resolution System(D.A.C.A.D.R.S.) etc.
  3. UPSC/MPSC: 
    Union Public Service Commission (UPSC) is basically the central recruiting agency in India.It is just concerned with the recruitment to the all-India services, and also advises the government on promotion and disciplinary matters when consulted. Likewise Maharashtra Public Service Commission (MPSC) provides a smooth and efficient functioning of the Government of Maharashtra by providing suitable candidates for various Government posts and advise them on various service matters like formulation of Recruitment Rules, advise on promotions, transfers and disciplinary actions etc. Clearing these Competitive Exams provides most powerful and respectable job.
  4. BANKING EXAMS
    Institute of Banking Personnel Selection (IBPS) is an independent entity at the behest of Reserve Bank of India (RBI) and Public Sector Banks clearing which one can be at designation of Probationary Officers in Banks.He is in Junior Management Grade-1 (JMG-Scale 1) Officer thus he is often called as Scale 1 Officer or Asst. Manager.
  5. JUDICIARY SERVICES EXAMINATION: 
    Clearing Judiciary Services Examinations one can become Judge. It is also one of the respectable jobs in society.  
  6. JUDGE ADVOCATE GENERAL (JAG):
    This post is held by Major General who is the legal and Judicial Chief of the Army. The Indian Army has a separate JAG branch which consists of legally qualified army officers. JAG officers provide legal help to the military in all aspects, in particular advising the presiding officers of courts-martial on military law.

There are many ways to expand your knowledge in this field. This field is never ending field for those who want to learn more things on every coming day.


I hope my this article will help you in reducing confusion and all the worries about law field. 
Thank you.

#2Article: A Perfect Sale Deed

A sale deed is one of the most valuable legal documents in a purchase or sale of a property. Sale of any  tangible immovable property ...