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When we think of immovable property, land is usually the first thing that comes to mind. However, immovable property includes much more than just land. It includes various assets that are inherently tied to the earth and cannot be easily moved.
Whether you are a property owner, investor, or involved in real estate transactions in India, understanding the nuances of types and legal rights of immovable property, and the differences between movable and immovable property is crucial. This article covers these aspects to provide a clearer understanding of immovable property in India.
Let’s get started by learning what is the meaning of immovable property.
In India, immovable property holds significant cultural, historical, and environmental importance. Protected heritage sites, strict zoning laws, and environmental regulations influence property usage and development.
Additionally, immovable property plays a crucial role in economic growth, social status, and community development.
This definition sets the stage for understanding the immovable property types and legal rights.
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Let’s understand the immovable property types with examples.
Land refers to a specific area of the earth’s surface, including the space above and below it. It includes naturally occurring elements on or beneath the surface, such as minerals, water bodies, and vegetation. Additionally, immovable property includes structures constructed or buried by humans to permanently occupy a space, such as buildings, walls, and fences.
These are human-made constructions that are fixed to the land. Examples include houses, factories, walls, and fences. Once constructed, these structures cannot be moved without being demolished.
Benefits arising from the land, regardless of their physical form, are considered immovable property. This includes hereditary allowances, fisheries, and ferries. Rights to collect rent, profits, and fees from specific plots of land or markets also fall under this category.
This category is further divided into:
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Here are the top characteristics of immovable property:
Immovable property is characterised by its permanence. For instance, you cannot move them or shift them. This permanence often contributes to the property’s value over time.
This includes not only the land itself but also any buildings, trees, and fixtures. The attachment to land means that immovable property often requires extensive legal documentation for transfer.
Transferring immovable property can be complex due to the various processes involved. However, these procedures are designed to protect both the buyer and the seller and ensure clear ownership.
The price of such assets increases with time, helping with wealth accumulation.
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Owning immovable property in India has various legal rights, ensuring the owner can fully utilise and benefit from their property. Understanding property rights enables an individual to own, transfer, and control a property with autonomy and personal freedom.
Following are the legal rights of immovable property that you must know:
Property owners have the legal right to collect rent by leasing their property to a third party. This right ensures a steady income stream from the property.
If the property is let out for cultivation or other uses, the owner has the right to collect dues from the user. This includes any benefits derived from the property, such as agricultural produce or commercial profits.
This right allows property owners to access their property without obstruction. It also covers legal actions against trespassers who unlawfully enter the property.
For properties with water bodies or fishing spots, the owner retains exclusive rights to the fishery benefits. Similarly, for properties with factories, the owner has rights over the industrial output and benefits.
Owners can operate ferry services and collect fees from users.
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Here is the difference between movable and immovable property.
The intention behind planting a tree or constructing a building determines if it is immovable. Trees intended for timber are movable, while those for shade are immovable.
Compared to immovable property, transferring movable property is generally simpler and does not require extensive legal documentation.
Investing in immovable property can be an advantageous option, given its potential for long-term value retention and appreciation. However, it’s crucial to thoroughly research and understand your rights and responsibilities. Being well-informed will help you navigate legal aspects, property management, and market dynamics, ensuring a secure and profitable investment.
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