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What happens if you do not register your ownership rights?

What happens if you do not register your ownership rights?

Non-registration of ownership rights may lead to someone else use the intellectual property without any benefits to you and even assume ownership of the said property. Patent and copyright information also helps in avoiding duplication of research.

A person may acquire immovable property in any of the following ways: By inheritance of ancestral property. Through will. Acquisition by oneself such as purchase etc.

Through gift, trust, settlement deeds. Grant, sanad / Inam by the Government. Through partition deed. Through decree of Court. There are two ways of acquisition: By act of parties. Example: Purchase, gift etc. By operation of law Example: Inheritance, decree of Court etc. (for details please see Transfer of Property Act, 1882 (Central Act)).

A foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. However, he / she can acquire or transfer immovable property in India, on lease, not exceeding five years. In such cases, there is no requirement of taking any permission of /or reporting to the Reserve Bank.

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