Sale of real estate in Pakistan normally takes place through a title document known as a Sale Deed, except in certain cases e.g. purchase of real estate in Defence Housing Authority (DHA) or in a housing society where sale deed is not executed for transfer of title in real estate and an allotment letter/transfer letter from the authority or the society, as the case may be, is deemed to be the title document. Some people, before execution of the sale deed, may opt to execute an agreement to sell. However, such agreement to sell does not transfer title to a property in favour of the vendee. It, nevertheless, does create a right in favour of the vendee, in case the vendor refuses to honour the terms and conditions of the agreement, to seek specific enforcement of the agreement to sell. Title in an immovable property is only deemed to transfer once such Sale Deed or title document has been executed. A sale deed must be affixed with requisite stamp duty and it must be registered with the relevant sub-registrar. After registration of the Sale Deed with the sub-registrar it must be ensured that a mutation of such sale is entered in the register of mutations kept and maintained by the patwari.
Foreign direct investment (FDI) refers to long term participation by a country A into country B (in this case Pakistan) . It usually involves participation in management, joint-venture, transfer of technology and expertise. There are two types of FDI: Inward foreign direct investment and; Outward foreign direct investment resulting in a net FDI inflow (positive […]
Business Startups in Pakistan require a host of corporate formalities which may vary due to Legal Person Involved : Individual , Partnership , Company or else. Residence status of the legal person: Non-residents may require more registrations and approvals to go through Business Sector: Service Industry, Manufacturing , non-profit and so forth. Many departments of […]
Law for the Landlord Landlord must ensure that lease of an immovable property is executed in writing. Lease of immovable property for a period of less than a year does not require compulsory registration. However, lease of immovable property for a period of more than a year must be registered. If the tenant refuses to […]