Property documents: Buying a house or land is a big dream of life, but this is where most people go wrong. Because they seal the deal without properly understanding the paper work. Property fraud and disputes are common in India, so it is important to check every document thoroughly before signing or making payment. This will keep your property safe. Besides, you will also be saved from getting into legal trouble.
Start with the title deed
The title deed is the document that states who is the real owner of the property. Always ask to see the original copy. Make sure to check whether the name of the seller matches with the government records or not. Also ensure that the title is ‘clear’ i.e. there is no case, dispute or mortgage on the property and the owner has full right to sell.
View Encumbrance Certificate
Encumbrance Certificate states that there are no outstanding loans or legal encumbrances on the property. You can take it from the sub-registrar office. It generally covers a period of 15 to 30 years. If there is any bank loan outstanding on the property, it will be recorded here. This will let you know clearly whether the owner is shifting his liability on you.
check building plans
If you are buying a flat or house in a project, check whether the builder has received all the approvals from the local development authority or municipal corporation. Be sure to ask for the approved building plan and see whether the actual construction is being done accordingly or not.
If the builder has made any illegal changes outside the plan, then you may get a fine or demolition notice later on.
Be sure to check tax and utility bills
Outstanding taxes or electricity and water bills can become a problem for you in the future. Therefore, take recent tax receipts and proof of electricity and water payment from the seller. This will also make it clear that the property is correctly registered with the local body.
Verify RERA Registration
If the property is under construction, check whether the project name is registered on the state’s RERA website. RERA registration means that the builder will have to follow the prescribed rules and buyers will get additional legal protection. This is a small step, but can save big disputes later on.
Do take help from a lawyer
Often people think why spend on a lawyer, but this very expense can save you lakhs later. An experienced property lawyer scrutinizes the documents thoroughly, detects flaws and ensures that your ‘Agreement to Sale’ and ‘Sale Deed’ are completely safe.
Buying a home is an emotional decision, but real security lies in the papers. If you scrutinize every document properly in the beginning, your dream home will not get into any legal trouble in the future.
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