As far as property in general is concerned, nomination facility is not available. “The transfer of immovable property is governed by the Transfer of Property Act, 1882, and the registration of properties is governed by the Registration Act, 1908. On completion of registration of immovable property, the transferee becomes the legal owner of the property.
As the legal owner, one can sell, transfer or otherwise deal with immovable property. However, neither of the aforesaid laws provide for nomination of immovable property and nomination is typically not provided in the sale deed,” says Bhoumick Vaidya, Partner, Shardul Amarchand Mangaldas & Co. Nomination facility is available only for certain categories of properties.
“In India, the nomination of the property at the time of registration is applicable only to those properties which come under the Cooperative Societies Act. On the other hand, properties which do not fulfil the concept of common ownership and interest with respect to land and space are out of the purview of nomination," says Ankit Garg, CEO & CO-Founder of Garg Law Chamber. A person can designate a nominee for the property during registration, which is typically executed in the presence of the registrar.
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