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Can a private builder charge free hold charge from home buyers?
28-Feb-2023 (In Property Law)
Cane pvt builder charge free hold charge from homebuyers. If yes,in which section of act .
Hello,
There is no particular act or section for the same, before answering your query I will tell you in brief about the freehold property:
Freehold property can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes however in accordance with the local regulations. Sale of a freehold property does not require consent from the state and hence requires less paperwork, thus, making it more expensive than leasehold property.
Description: Freehold property is inheritable and there are no restrictions on the right of the property owner to further transfer the property. In a free hold property, there is no encumbrance to the absolute title of the property. A free hold is not akin to a condominium wherein the owner of the individual unit pays a maintenance charge. Free hold property can be inherited by a legal guardian. A freehold property can be transferred by registration of sale deed.
Therefore, it is the owner of the land who will have to pay the charges, that is to say that owner of the entire freehold, it cannot be charged from you.
Regards
There is no particular act or section for the same, before answering your query I will tell you in brief about the freehold property:
Freehold property can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes however in accordance with the local regulations. Sale of a freehold property does not require consent from the state and hence requires less paperwork, thus, making it more expensive than leasehold property.
Description: Freehold property is inheritable and there are no restrictions on the right of the property owner to further transfer the property. In a free hold property, there is no encumbrance to the absolute title of the property. A free hold is not akin to a condominium wherein the owner of the individual unit pays a maintenance charge. Free hold property can be inherited by a legal guardian. A freehold property can be transferred by registration of sale deed.
Therefore, it is the owner of the land who will have to pay the charges, that is to say that owner of the entire freehold, it cannot be charged from you.
Regards
Helpful?
Adv. Anilesh Tewari
Lucknow | 200+ Answers
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