Transcript INDIA SHINING Legalities and safeguards in Real Estate

PARIMAL
K. SHROFF
& CO
Advocates, Solicitors & Notary
Mumbai, India

What is TITLE?

The concept of MARKETABLE TITLE.

The covenant “free from encumbrances”
in the standard Conveyance.
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The duty of disclosure on the part of the
Seller under the law.
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The Right of Title in India.
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What amounts to deducing the Title?
Parimal K. Shroff & Co.
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DUE DILIGENCE
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What is Due Diligence ?
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Due Diligence on the OWNERSHIP.
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Due Diligence on the OWNER.
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Due Diligence on the TRANSACTION.
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TYPES OF DUE DILIGENCE

Procedural Due Diligence
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Accounting Due Diligence
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Corporate Due Diligence
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Environmental Due Diligence
(CRZ /Mangroves)
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Structural Due Diligence
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Planning Regulation Due Diligence

Development Potential Due Diligence
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TITLE DUE DILIGENCE
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STATUTORY DUE DILIGENCE
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REGULATORY DUE DILIGENCE
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 DUE DILIGENCE- When AGREED upon
 DUE DILIGENCE - When document is
SILENT
.
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TERMS TO BE PROVIDED IN THE
AGREEMENT REGARDS TITLE
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Production of Title Deeds
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How Title is to be made out?
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What Title is to be made out?
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Whether it is to the satisfaction of Advocate of
Purchaser?
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Provision for answering requisitions
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Time for answering requisitions
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Acceptance and Rejection of Title
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Rescission Clause of the Vendor or Purchaser
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Refund of monies received by the Vendor
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DUE DILIGENCE in case of:
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Private Limited Company
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Public Limited Company
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HUF
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Partnership Firm
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Membership of Cooperative Society
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Contd. .. 8
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Individual with matrimonial dispute
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Minor
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Person of unsound mind
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Lady as Vendor
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Association of Persons
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Company in liquidation
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Cooperative Society
Contd. .. 9
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Government Body for government as Vendor
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Government Land
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Municipal Land
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Grant Land
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Agricultural Land

Listed Properties
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IMPORTANCE / NECESSITIES OF :

Public Notice

Searches in the office of Sub-Registrar
of Assurances

Revenue Records

Municipal Record

Tax Due Diligence
Parimal K. Shroff & Co.
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THANK YOU
PARIMAL
K. SHROFF
& CO
Advocates, Solicitors & Notary
Mumbai Office:
Rustom Building, 29, Veer Nariman Road,
Fort, Mumbai 400 023, INDIA
Phone: 22023297 / -3317/ -3411
Fax: 22024051
Email: [email protected]