Property rights refer to the legal ownership of a property by any individual and how they use it. In a country like India, legal protection to physical assets having economic value is difficult, so the ownership of these physical resources can be protected through copyright and patent.
Private property is owned individually and they are the pillars of capitalist economy whereas there are communal and public properties which are either owned by groups or the government.
These are the rights enforced against each individual. In case, anyone damages your personal property, you have the right to sue them in court and exercise your right over them. The most common example of these rights is the license, that is created and does not give access to property right. Property rights are different from personal rights, but it is difficult to draw a line between them. Moreover, many marginalized groups donâ€™t even have the right to their own property.
Transfer of Property
Consensual transaction from the previous owner to the new owner takes time. It is legally possible to pass a property to anyone person who obtains interest in it and builds trust with the current owner.
The International Property rights Index
An annual study that focuses on measuring and comparing the strength of property rights. This study is published by Property Right Alliance. The index basically exhibit the need of secure property rights in almost 131 countries. The aim is to provide legal protection to the physical and cognitive property.
Hindu Succession Act
Earlier only sons had complete right over his fatherâ€™s property but after the amendment of this act in September 9, 2005 every married or unmarried daughter have granted same right, duties and responsibilities that were earlier limited to sons.
A property lawyer handles all the issues related to land, property or any real estate. Having direct relations with the clients, they work on negotiating for commercial and non-commercial firms. They help clients to deal with different legal aspects of land use, zoning , property development, landlords, tenants etc. In property cases, there are two types of lawsuits that can be filled, the first one is sue the person for trespassing or ejectment. This type of law can make you win money in some cases. The second is declaratory judgement, in this you have the power to take your case in front of judge and then heâ€™ll make a legal determination. This type does not allow to win the cash like trespassing Real estate lawyers protect the interest of buyer, seller and saves them from risk of financial losses. They help clients with security deposits, bills also. Knowledgentia consultants are expertise professionals who help you in any matter related to property or any other legal case. You can reach out to us or walk in from any queries or help.