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| Mutation |
It is mandatory for the sale deed of all high value property transactions to be registered at the regional sub registrar's office of the local municipal authority. Thereafter, the buyer has to apply for mutation, which involves a change in the title records to incorporate the name of the buyer of the property. In order to complete the transfer of property, it is mandatory for the seller to furnish or arrange a valid "certificate of completion" issued from the local municipal authority to the buyer.
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| Maintenance |
In property parlance, the keeping of a building, structure or other physical feature in a specified condition eg. wind and weather tight conditions. The approved cost of maintenance may be deductible for income taxation.
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| Mattha |
Frontage of a building with the main road.
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| Mortgage |
| The conveyance of a legal or equitable interest in freehold or leasehold property as security for a loan and with provision for redemption on repayment of the loan. The lender (mortgagee) has powers of recovery in the event of default by the borrower (mortgagor). A mortgage is a form of land charge and can be either legal or equitable. |
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