what is mutation of property

what is mutation of property

1 year ago 96
Nature

Mutation of property refers to the transfer or change of ownership title from one person to another in the revenue records of the local municipal corporation. It is a crucial process during property buying, and it is important to update the records in the land revenue department of the government after the completion of the property buying process. Mutation of property is not legally binding, but it is important as it stands as proof of ownership and might act as a tax liability. The process of mutation involves submitting documents such as a copy of the sale deed, affidavit on stamp papers, indemnity bond, copy of Aadhaar card, property tax receipts, and copy of will/succession. The mutation process is different from property registration and happens after the registration of property is carried out. There are two types of mutations: mutation of agricultural lands and mutation of non-agricultural lands. The former is mandatory without which land title cannot be passed to the new owner, while in the latter case, it is not legally binding but should be done to protect ownership rights and avoid hassles while selling the asset.

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