Key Laws in Real Estate Industry

Kamlesh Yadav K

The Indian Contract Act, 1872

The Indian Contract Act, 1872 prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on the principles of English Common Law. It is applicable to all the states of India.

Transfer of Property Act, 1882

The Transfer of Property Act 1882 is an Indian legislation which regulates the transfer of property in India. It contains specific provisions regarding what constitutes a transfer and the conditions attached to it. It came into force on 1 July 1882.

Indian Easement Act, 1882

The concept of easement has been defined under Section 4 of The Indian Easements Act, 1882. According to the provisions of Section 4, an easementary right is a right possessed by the owner or occupier of the land on some other land, not his own, the purpose of which is to provide the beneficial enjoyment of the land. This right is granted because without the existence of this right an occupier or owner cannot fully enjoy his own property.

It includes the right to do or continue to do something or to prevent or to continue to prevent something in connection with or in respect of some other land, which is not his own, for the enjoyment of his own land.

The word ‘land’ refers to everything permanently attached to the earth and the words ‘beneficial enjoyment’ denotes convenience, advantage or any amenity or any necessity. The owner or occupier referred to in the provision is known as the Dominant Owner and the land for the benefit of which the easementary right exists is called Dominant Heritage. Whereas the owner upon whose land the liability is imposed is known as the Serviant Owner and the land on which such a liability is imposed to do or prevent something, is known as the Servient Heritage.

Indian Stamp Act, 1899

The main purpose of this Act is to generate revenue for the Indian government. A document which is stamped acts as valid evidence in a court of law. The Stamp Act also makes payment of stamp duty on some documents compulsory which in return makes those documents legally valid and authentic.

Registration Act, 1908

Registration does mean entry in the official record in the office authorized by the government. 

Registration Act, 1908 (Act XVI of 1908) stipulates registration of title deeds. Its purpose is to ensure, through registration of documents, genuineness of title documents and to avoid fake documents. 

It came into force on December 18, 1908. Whoever acts as a tout whilst his name is included in a list of touts framed and published under this Act shall be punishable with imprisonment for a term which may extend to three months, or with fine which may extend to five hundred takas, or with both.

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