Question

Land transaction mechanisms can generally be classified into: symbolic delivery, private conveyancing, registration of deeds, and title registration. A favela in Rio de Janeiro, Brazil, is to go through a formal land registration process.

Which mechanism would you recommend?

Briefly explain how its implementation would work and list any advantages and disadvantages.

Answer 1

I would like to recommend REGISTRATION OF DEEDS because:

1: Register of deeds and its record is managed by the local government it holds all the record regarding the land.

2: Register of deed is available for the public viewing, it requires sometime by the government officials to check and make mortgage or deed records.

IMPLEMENTATION:

Step 1) Payment to seller as per the agreement to sell:  it means that you have to make the payment to the seller on which both buyer and seller was agreed. And one thing should kept in mind that there should be no dues left upon property- Loans, Taxes etc. By only registered deed property can be transferred.

Step 2 ) Calculation of stamp duty: these rates are decided by the government. It sets according to the circle rate.

Step3 ) Payment of stamp duty: Sale deed is printed on stamp duty.

Step4) Draft and Print deed: its give whole detail about the deed there should be no condition. Fully ownership must be transferred.

Step5) Registration at sub registrar office: Firstly you have to take appointment. Both buyer and seller must present at that time with 2 witnesses. with ID proofs, photograph and signature.

Step6) Collect registered sale deed: original deed can be collected within 15 to 20 days. Incase you have taken loan from the bank than bank will collect it on behalf of owner.

Step7) Mutation of property: Change name under land records.

change of name under municipal records.

Advantages and Disadvantages:

ADVANTAGE; It is simple process to record the property and make it active for your use.

DISADVANTAGE: it is public means anyone can see the register . so anybody get the knowlegde about your beneficiaries

Thankyou, I hope you like my answer.