REQUIRED PROPERTY VERIFICATION DOCUMENTS
8 months ago
We are planning to buy a Duplex inside a project made by the an Independent Developer in Bhubneswar. What are the mandatory documents should we ask from the developer/builder for verifying the Property and the Land?
A.Dear Client.
Purchasing a property/land requires utmost care. One has to examine and find out the title of the seller or the nature of his right. A seller can sell only what he possesses. Therefore if a seller has a proper and valid title, on a purchase you will get the valid title. If the seller's title is defective, you will get only the defective title. When buying a property, legal due diligence is essential to avoid getting entangled in legal issues later. Here are some of the precautions you can take before finalizing a property deal. 1. Check the antecedents of the vendor(s):-It is better to verify the character and antecedents of the vendor(s) beforehand. If the vendor has a good background, and his character and reputation are unquestionable, then the transaction will be very smooth. Even, in future, if there is any dispute regarding title or any other issue pertaining to the property. 2. Check the title of the property:- the title of the seller must be clear and free from any encumbrance, A search of the records at the sub-registrar's office may be carried out for documents that may affect the property and may have been registered. A title Deed can be requested from the seller. Assessment Register Ledger entry (called Khata in some parts of the country) is basically a supporting document of title. It is the entry of the present owner in the municipal/panchayat records relating to house properties. 3. Verify the title of the seller:- The vendor may have acquired his title either by purchase, by inheritance, by partition, by gift, by settlement or by grant. To find out the source of the title there must be some document like. Entries in revenue records, and predecessor's title, Deed of partition, Gift deed, Settlement deed, Release deed etc, 4. Personal inspection of property under sale (site/building/flat/agricultural land):- The entire onus lies on the purchaser in verifying the title, ownership and possession of the property, During the personal inspection, the buyer shall inquire with the neighbours regarding the ownership and possession of the property, disputes if any, character of the vendor(s) , charges/mortgages on the property, joint owners of the property or part of the property etc. 5. Sale by holder of power of attorney:- If the sale documents are being executed by a person holding power of attorney on behalf of the owner, the said power of attorney should be scrutinised thoroughly, 6. Check the original documents:- Always inspect the original documents of the seller and read all the documents carefully before signing them. If the vendor states that the original documents were missing/stolen/lost, then it is better to know the full facts relating to missing documents, There is a possibility of keeping the original documents in banks/financial institutions/private lenders to create mortgage/charge over the property by way of deposit of title deeds. 7. Colour Photostat copies frauds:- Innocent purchasers can be duped by clever vendors by delivering colour Photostat copies instead of original. Therefore, a proper check shall be done in verifying whether the documents are original or colour Photostat copies, 8. Verify photographs and thumb impressions of the vendor:- Section 32A of the Registration Act, 1908 prescribes that in case of sale deeds, both the vendors and buyers should affix their photographs and thumb impressions along with the document. 9. Tax receipt and bills:- Property taxes which are paid to the government or municipality are the first charges on the property. Hence, enquiries must be made in government and municipal offices to ascertain whether all taxes have been paid up to date, 10. Encumbrance Certificate:- Before purchasing the land or house, it is important to confirm that the land does not have any legal dues, 11. Pledged land:- Some people may have taken a loan from the bank by pledging their land. Ensure that the seller has paid back the entire amount due,,12. Place a public notice:- A public notice may be placed in newspapers calling for claims in respect of the property being purchased. 13. Inspect the plans:- If the building is under construction then inspect the plans to check whether they have been sanctioned by the concerned authority. 14. Payments of stamp duty:-Always verify documents of title to check payment of stamp duty. 15. If the property belongs to a minor:- In the case where the property is owned by a minor, prior approval of the court is required to enable the minor's other/natural guardian to sell the property. 16. Check the minimum tenure of land if taken on lease:- 17. Engage a competent lawyer:- There are several laws involved in immovable property transactions. Therefore, it is better to engage a competent lawyer to investigate the title, possession, ownership and other aspects. The lawyer shall associate and his scope of work shall include in investigating the title, negotiations, drafting of agreements/sale deeds, payment of consideration, registration of documents, mutation, etc.
Purchasing a property/land requires utmost care. One has to examine and find out the title of the seller or the nature of his right. A seller can sell only what he possesses. Therefore if a seller has a proper and valid title, on a purchase you will get the valid title. If the seller's title is defective, you will get only the defective title. When buying a property, legal due diligence is essential to avoid getting entangled in legal issues later. Here are some of the precautions you can take before finalizing a property deal. 1. Check the antecedents of the vendor(s):-It is better to verify the character and antecedents of the vendor(s) beforehand. If the vendor has a good background, and his character and reputation are unquestionable, then the transaction will be very smooth. Even, in future, if there is any dispute regarding title or any other issue pertaining to the property. 2. Check the title of the property:- the title of the seller must be clear and free from any encumbrance, A search of the records at the sub-registrar's office may be carried out for documents that may affect the property and may have been registered. A title Deed can be requested from the seller. Assessment Register Ledger entry (called Khata in some parts of the country) is basically a supporting document of title. It is the entry of the present owner in the municipal/panchayat records relating to house properties. 3. Verify the title of the seller:- The vendor may have acquired his title either by purchase, by inheritance, by partition, by gift, by settlement or by grant. To find out the source of the title there must be some document like. Entries in revenue records, and predecessor's title, Deed of partition, Gift deed, Settlement deed, Release deed etc, 4. Personal inspection of property under sale (site/building/flat/agricultural land):- The entire onus lies on the purchaser in verifying the title, ownership and possession of the property, During the personal inspection, the buyer shall inquire with the neighbours regarding the ownership and possession of the property, disputes if any, character of the vendor(s) , charges/mortgages on the property, joint owners of the property or part of the property etc. 5. Sale by holder of power of attorney:- If the sale documents are being executed by a person holding power of attorney on behalf of the owner, the said power of attorney should be scrutinised thoroughly, 6. Check the original documents:- Always inspect the original documents of the seller and read all the documents carefully before signing them. If the vendor states that the original documents were missing/stolen/lost, then it is better to know the full facts relating to missing documents, There is a possibility of keeping the original documents in banks/financial institutions/private lenders to create mortgage/charge over the property by way of deposit of title deeds. 7. Colour Photostat copies frauds:- Innocent purchasers can be duped by clever vendors by delivering colour Photostat copies instead of original. Therefore, a proper check shall be done in verifying whether the documents are original or colour Photostat copies, 8. Verify photographs and thumb impressions of the vendor:- Section 32A of the Registration Act, 1908 prescribes that in case of sale deeds, both the vendors and buyers should affix their photographs and thumb impressions along with the document. 9. Tax receipt and bills:- Property taxes which are paid to the government or municipality are the first charges on the property. Hence, enquiries must be made in government and municipal offices to ascertain whether all taxes have been paid up to date, 10. Encumbrance Certificate:- Before purchasing the land or house, it is important to confirm that the land does not have any legal dues, 11. Pledged land:- Some people may have taken a loan from the bank by pledging their land. Ensure that the seller has paid back the entire amount due,,12. Place a public notice:- A public notice may be placed in newspapers calling for claims in respect of the property being purchased. 13. Inspect the plans:- If the building is under construction then inspect the plans to check whether they have been sanctioned by the concerned authority. 14. Payments of stamp duty:-Always verify documents of title to check payment of stamp duty. 15. If the property belongs to a minor:- In the case where the property is owned by a minor, prior approval of the court is required to enable the minor's other/natural guardian to sell the property. 16. Check the minimum tenure of land if taken on lease:- 17. Engage a competent lawyer:- There are several laws involved in immovable property transactions. Therefore, it is better to engage a competent lawyer to investigate the title, possession, ownership and other aspects. The lawyer shall associate and his scope of work shall include in investigating the title, negotiations, drafting of agreements/sale deeds, payment of consideration, registration of documents, mutation, etc.
Helpful
Helpful
Share
A.Dear client,
Following are the documents which you must check and cross verify before buying a property:
1. The Sale Deed
The Sale Deed is one of the most important legal documents to check. It contains proof of the sale and transfer of property from the builder to the individual. It is quite possible that years after purchasing a home, the owner may decide to sell it for any reason, in which case this paperwork is critical. A sale deed gets executed in advance of a sale agreement and after the individuals involved have agreed to its terms and conditions. The sales deed, once recorded, serves as your proof of ownership of the property in question. A sale deed must be registered within four months of the date of execution, according to current requirements.
2. The Mother Deed
The mother's deed is one of the most critical property documents. It provides a list of all prior owners of the property. The bank will request a copy of the "Mother's deed" when you apply for a loan as part of their due diligence to ensure the property is legally clear. To get a mother deed, visit the zonal office of the registrar where the house is registered and pay the relevant fees.
3. Land-use-certificate
This document, also known as a CLU (Change of Land Use), must be studied before purchasing a property. Residential houses cannot be constructed on commercial or agricultural land, etc., and the CLU will give you all the relevant information. To ensure a risk-free land transaction, demand that the developer/builder display this certificate or a copy of the CLU.
4. The Sale and Purchase Agreement
The Sale and Purchase Agreement is one of the most important documents to check. It comprises a set of terms and conditions that are agreed upon by both the buyer and the seller. The pricing of the flat is an example of this. The agreement would include the agreed-upon price of the flat by both the buyer and the seller.
Following are the documents which you must check and cross verify before buying a property:
1. The Sale Deed
The Sale Deed is one of the most important legal documents to check. It contains proof of the sale and transfer of property from the builder to the individual. It is quite possible that years after purchasing a home, the owner may decide to sell it for any reason, in which case this paperwork is critical. A sale deed gets executed in advance of a sale agreement and after the individuals involved have agreed to its terms and conditions. The sales deed, once recorded, serves as your proof of ownership of the property in question. A sale deed must be registered within four months of the date of execution, according to current requirements.
2. The Mother Deed
The mother's deed is one of the most critical property documents. It provides a list of all prior owners of the property. The bank will request a copy of the "Mother's deed" when you apply for a loan as part of their due diligence to ensure the property is legally clear. To get a mother deed, visit the zonal office of the registrar where the house is registered and pay the relevant fees.
3. Land-use-certificate
This document, also known as a CLU (Change of Land Use), must be studied before purchasing a property. Residential houses cannot be constructed on commercial or agricultural land, etc., and the CLU will give you all the relevant information. To ensure a risk-free land transaction, demand that the developer/builder display this certificate or a copy of the CLU.
4. The Sale and Purchase Agreement
The Sale and Purchase Agreement is one of the most important documents to check. It comprises a set of terms and conditions that are agreed upon by both the buyer and the seller. The pricing of the flat is an example of this. The agreement would include the agreed-upon price of the flat by both the buyer and the seller.
Helpful
Helpful
Share
Read Related Answers
Can Builder Cancel Affordable After taking full Amount
Dear Client,
In the absence of any specific term Builder Buyer Agreement(BBA) a Builder cannot cancell an allotment of a flat outrightly on receipt of full or part of the price or value of the flat fr...
Complaint on Apartment Maintenance issue
Dear Client,
Per sq, ft method is extensively used for the calculation of the maintenance charges for the societies/RWA across the country. This system of calculation is used when the sizes of apartm...
Question on Buying 10 years old flat with registration on hold
Dear Client ,
you can not rent / lease or sell your property until you have received complete possession of the property. you have to complete registration process for the same before getting into re...
REGISTRATION OF Apartment owners association under companies act
Dear sir,
It is ordinarily registered under specific act which might have been enacted by your state government otherwise consult the sub registrar office.
I am being asked to pay more than my neighbour for Open Car Parking
Dear Client,
Firstly, document all your interactions with the builder, including dates, times, and any communication (emails, letters, etc.). This documentation will be crucial if you need to escala...
Read Blogs on Real Estate
Real Estate Lawyers
Find Lawyers by Location
