Supreme Court clears the air on registration of properties
THE Supreme Court’s ruling that merely getting a property registered does not automatically grant ownership is aimed at curbing fraud and reducing litigation in the fast-growing real estate sector. The rationale is simple: a property might be registered in your name, but if someone else has physical possession or there are disputes regarding the title, ownership could be challenged. Property sellers/buyers and realtors need to ensure that there is no compromise on exhaustive documentation. Exercising due diligence today can save stakeholders a lot of hassle tomorrow.