Introduction
Immoveable property, as the term implies, is property that cannot be moved or is permanently affixed to the earth’s surface. We commonly refer to land or a real estate property when we talk about the earth’s surface. As a result, land and things permanently attached to the land are considered immovable property. Immovable property is defined by a number of statutes.
Different types of immovable properties
The various forms of immovable properties that can be found in real estate have been covered below :
2. Land-based advantagesEvery benefit that emerges from land is regarded as immovable property, aside from actual land. Immovable property advantages, hereditary allowances, fishing, and ferries are all covered by the Registration Act. Immovable property also includes the right to collect profits and rent from immovable property, as well as the right to collect dues from a market on a specific piece of land.
3. Things that are rooted in the ground: The term “connected to earth” is defined in Section 3 of the Transfer of Property Act to mean:Shrubs and trees that are rooted in the earth, with the exception of standing wood, grasses, and crops, are rooted in the earth. The classification of shrubs and trees as immovable or moveable is dependent on the conditions.If the objective is for trees to continue to benefit from any additional nutrition or sustenance while enjoying their fruits, then the tree is considered immovable property. However, if the objective is to evict them as soon as the wood is used for construction or any other industrial purpose, they will be deemed timber and will be regarded moveable property.
Things embedded in the earth – Things embedded in the earth include structures such as buildings and residences. Certain objects, such as an embedded anchor in the ground to retain a ship, are not considered immovable properties, and the determination of whether they are immovable or moveable is case-by-case.
Things that are connected to something that is deeply embedded – Permanent and immovable properties include the permanent benefit enjoyment of things affixed to the land, such as windows and doors. Window shades and electric fans, on the other hand, are considered movable property.
Chattel linked to structures or the earth – Moving properties include growing grasses and crops, as well as standing timber. If the land is sold, the standing wood and producing crops can be passed on to new owners.
Rights associated with immovable property
The following are the rights that a person who owns immovable property enjoys. These are some of them:
Rent collection rights – A property owner has the legal right to collect rent by renting out or leasing the property in question.
Right to collect dues – If the property has been rented out so that another party/person can cultivate it or utilise it as part of his/her service, the owner of the immovable property has the right to collect the rent.
Right of the ferry – This refers to the authority’s right to keep a vessel afloat on a body of water in order to transport people and vehicles across it for a fee. A ferry can also serve as a roadway extension from one side of a water body to the other.
Right of way – A piece of land can be either public or private, and infringing on it can be a legal violation.
Right of fishery – There may be access rights to fish in a specific water body or to a specific factory that are solely available to the owner of the immovable property.
Finally, an immovable property is one of the most popular investment products, especially among investors with a long-term investment goal. It can be considered an evergreen investment choice due to its non-depreciating nature.
Reference
Legal Service India :
Ipleader
https://blog.ipleaders.in/transfer-to-unborn-person/
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