PROPERTY DEEDS & ITS LEGAL IMPLICATIONS!!!

The written and signed legal document to transfer the ownership of a real property from the seller or old owner (grantor) to the buyer or new owner (grantee) is called the property deed. For a deed to be legally effective, several necessities must exist, including the identification of the grantor and grantee, and the adequate description of the property.  

Deeds may be categorized in a number of ways, including quitclaim, warranty and special purpose deeds.

Essentials of Deed:-

• Name of the parties involved
• Description of the property involved
• Signature of the person transferring the property
• Deed must be in writing. While most deeds are completed on printed forms, there are no legal needs that any particular form be used as long as the essential elements are included.
• The grantor must have legal capacity, and the grantee must be capable of receiving the grant of the property. A person who is proficient to make a valid contract is considered competent to be a grantor.
• The grantor and grantee must be recognised in such a way as to be ascertainable.
• Operative words of conveyance must be present. All standard form deeds comprise the necessary legal language that literally transfers the property.
• The deed must be legally hand over to the grantee or to someone acting on the grantee's behalf.
• The deed must be accepted by the grantee. Typically, deeds are accepted by the grantee but in certain situations, the grantee could refuse delivery of the deed.

Types of Deeds:-

Deeds are classified as official or private. Official deeds are executed pursuant to court or legal activities. Most of property transactions involve individuals and business entities using private deeds.

Deeds are also categorised on the basis of title warranties provided by the grantor.

• General Warranty Deed
• Special Warranty Deed
• Quitclaim Deed
• Special Purpose Deeds

General Warranty Deed:-

General warranty deed provides more protection to the grantee. With this type of deed, the grantor creates a series of legally binding promises, which is called as covenants and warrants to the grantee (and their heirs) agreeing to protect the grantee against any prior claims and demands of all persons whomsoever in regards to the conveyed land. The normal premises for title contain in a general warranty deed are the Good Right to Convey, it means that the grantor warrants that they own the property and has the legal right to bring it; the covenant against encumbrances, denoting that the grantor warrants that the property is free of liens or encumbrances, except as specifically stated in the deed. The grantee will have quiet possession of the property, and will not be disturbed because the grantor had a defective title are specified in the covenant of quiet enjoyment.

Special Warranty Deed:-

Grantor of a special warranty deed warrants that they accept the title to the property, and that they have not done anything while holding the title to create a defect. The defects that arose during the grantor's ownership of the property are warranted in special warranty deed. Due to this special warranty deed offers less protection to grantee than general warranty deed. 

Quitclaim Deed:-

It is also called non - warranty deed. Quitclaim offers the least amount of protection to the grantee. It conveys whatever interest the grantor has in the property. No warranties or promises regarding the quality of the title are made. The quitclaim deed is essentially as effective as a general warranty deed if the grantor has a good title. However, if the title contains a defect, the grantee has no legal recourse against the grantor under the deed. A quitclaim deed is used when the grantor is not sure of the status of the title that is if it contains any defects or not or if the grantor wants no liability under the title covenants. 

Special Purpose Deeds:-

Special purpose deeds are used for court proceedings and occasion where the deed is from a person acting in some type of official capacity. In this the grantee has little or no protection.

Types of special purpose includes:-

• Administrator's Deed: Mainly used when a person dies without a will.
• Executor's Deed: It is used when a person dies with will.
• Sheriff's Deed: Is given to the victorious bidder at an implementation of sale held to please a judgment that has been obtained against the owner of the property. The grantee is awarded whatever title the judgment debtor has.
• Deed of Gift: Gift deed does not involve financial terms. It used to transfer a property to other without involving a sale.

The transfer of an owner's title is possible by a deed. Certain essential elements must be included within the deed in order to make it legally operative. Different deeds give various levels of protection to thegrantee, and the obligations of a grant or are determined by the form of the deed.

Connect with Licit for knowing more about property deeds. For online legal consultation from the best lawyer regarding preparing property deeds visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk

AFFIDAVITS & ITS LEGAL IMPLICATIONS!!!

An affidavit is an official written statement setting out the facts of a case and it is considered as the proof of a case. It is the main method to present the facts of the case to a court. It must be promised, or declare, usually before a Justice of the Peace, Commissioner of Oaths or solicitor, as a true record. Affidavits may also be a promise   by a third person in support of a case. The court has a model form to use and there is limited opportunity to give a personal account of your evidence in court. More evidence is provided by affidavit. This allows a case to run more quickly and efficiently as all parties know what evidence is before the Court.

Why are affidavits important? :-

The facts which you depend on your case can be introduced by affidavits, i.e the evidence of the case. Oral evidence is only allowed with the Judge's authorization so you need to produce your affidavits carefully.

When do you file an affidavit? :-

With an interim application, it is needed to file an affidavit with the court or otherwise when directed by the court. The court has affidavit kits for applicants and respondents which include a blank affidavit form.

We need to file an affidavit with your application or response in the Federal Magistrates Court for both interim and final orders, and when directed by the Court. The FederalMagistrates Court has a blank affidavit form which it can be used by applicants and respondents.

We should use the form that is applicable to the Court handling your matter.

What can you say in an affidavit? :-

The statement of facts is called the affidavit. So the statement should make observations without colour or comments. Generally the affidavit should not set out the judgement of the person making the affidavit. The length of affidavits depends on the complexity of the case. The affidavit need not to be lengthy, but can’t leave out any relevant information as you may not get a chance to add it in later.

Can you prepare your own affidavit? :-

It is possible to prepare an affidavit by a person him/her self if he required. But it is not easy. The following steps should consider for preparing affidavits:-

1. Insert a case caption and title your statement.

2. Write the state and county, and identify the affiant.

3. Include relevant personal information.

4. Write a statement of truth and spell out the oath.

5. State the facts in a numbered list.

6. Create a signature block for the affiant and another for a court clerk or notary.

Take a legal expertise is the more convenient way to preparea proper affidavit.

What does an affidavit look like? :-

The affidavit should be printed or typed only one side of the paper. The content should be divided as numbered paragraph. The content is divided into different sections under the headlines is more perfect method to write an affidavit.

What should not be included in an affidavit? :-

Affidavits prepared based on facts, does not depends on the person’s belief or views. The exception is where the person is giving evidence as an expert; for example, a psychologist or licensed valuer. Where you should avoid referring to facts that are based on information received from others. There are, however, a number of exceptions to the hearsay rule.  If you need to rely on hearsay evidence in your affidavit, get legal advice to see whether it would be allowed in court. You should not refer to anything said or documents produced in connection with an attempt to negotiate a settlement of your dispute, as these are not admissible as evidence in Court.

How can attach documents to an affidavit? :-

Regularly an affidavit refers to other documents and it is helpful to attach a document to the affidavit. The document is then known as an Annexure. Give number to each page of the document and if more than one document is attached refer to each by numbers. Each Annexure must have a statement signed by the authorised person recognize the Annexure as the document referred to in the affidavit.

The person who is preparing the affidavit needs to sign the bottom of each page of the affidavit in the presence of an authorised person such as a lawyer or Justice of the Peace.

On the last page of the affidavit the following details must be set out:-

• The full name of the person making the affidavit, and their signature
• The day and place the person signs the affidavit
• The full name and occupation of the authorised person, and their signature.

Connect with Licit for knowing more about affidavits. For online legal consultation from the best lawyer regarding preparing an affidavit, visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk

GST and Lawyers!!!

What is GST?

First, we need to know what is GST. GST is an indirect tax reform. GST try to remove tax barriers between states and makes into a single market. The motive of the bill is to bring one single tax on supply of goods and services, from the manufacturing stage until its delivery to the final consumer. The final consumer of the goods and/or services will only have to carry the GST charged by the final dealer in the supply chain, and avail set-off benefits at all the preceding stages. This means interim tax stages such as excise duties and service tax and state levies like VAT will be absorbed under the GST.

How GST Affecting Lawyers?

Exempt Services:-

A person, including a business entity with a turnover up to twenty lakes in preceding financial year by an individual advocates or firm who provide services or agreed to provide services will continue to be service tax free under the new goods and service tax regime. Both direct and indirect legal services are not taxable.

Senior Advocate providing service to Person and business entities with turnover less than twenty lakes is exempted from service tax. But the service provided by a senior advocate to an Advocate firm or Advocates is not exempted.

The services provided by an arbitral tribunal to any business entity whose turnover is less than twenty leaks are also not taxable.  

Taxable Services:-

            

The individual advocates who provide services to a business entity with a turnover more than 20 Lakh in preceding a fiscal year or legal services provided by a partnership firm of advocates are applicable for tax.  

  

The senior advocate who is providing legal services to a Business entity with a turnover more than twenty lakh rupees in preceding fiscal year. Tax is applicable to Senior advocates who provide legal service to another advocate or partnership firm of advocates providing legal services.

Registration Criteria:-

If an advocate has an aggregate turnover in a financial year exceeds twenty lakh rupees, then as per section 22 he shall be liable to be registered under the Act in the State or Union territory (other than special category states) from where he makes a taxable supply of goods or services or both. Exempt Supplies is also included in the word aggregate. On becoming registered person, by virtue of section 9(4) they will be required to pay tax under RCM ongoods or services procured from unregistered persons.

If you required more assistance on GST connect with Licit. For online legal consultants from the best lawyer visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk