Real Estate Housing Property Dealings Key Terminology Used
Real Estate Terms Absolute title: Absolute title is a title which proves that the property is free from charge, litigation, encumbrance and any other form of attachment/lien. Absolute title gives clear & legitimate right of ownership to the titleholder. The right of the absolute titleholder is unequivocal and cannot be disputed or challenged by any other person. Allotment letter: It is a letter executed and given by the property developer to the buyer containing the details such as agreed price of the property, payment & construction schedule, delivery dates and clauses related to builder’s liability....