Property Resale Flat
7 months ago
For buying Resale Flat ,seller have only sales deed,registry , possession letter,but he lost allotment letter and builder buyer agreement,should I purchase the flat or not kindly suggest
A.Dear
When purchasing a resale flat, it's important to have all the necessary legal documents to ensure a smooth and secure transaction.
Check the Property Title: Make sure the seller has clear and marketable title to the property. Verify the ownership records, chain of title, and any encumbrances or legal disputes related to the property.
Request an Affidavit: Ask the seller to provide an affidavit stating the circumstances of the lost documents (allotment letter and builder-buyer agreement). This affidavit can serve as a legal declaration explaining the situation.
Verify Possession and Encumbrances: Ensure that the seller is in physical possession of the flat and that there are no pending dues or encumbrances related to the property, such as outstanding property taxes, unpaid maintenance fees, or legal disputes.
Check with the Local Authority: Contact the local municipal authority or development authority to confirm the property's status and verify the ownership details
Regards
When purchasing a resale flat, it's important to have all the necessary legal documents to ensure a smooth and secure transaction.
Check the Property Title: Make sure the seller has clear and marketable title to the property. Verify the ownership records, chain of title, and any encumbrances or legal disputes related to the property.
Request an Affidavit: Ask the seller to provide an affidavit stating the circumstances of the lost documents (allotment letter and builder-buyer agreement). This affidavit can serve as a legal declaration explaining the situation.
Verify Possession and Encumbrances: Ensure that the seller is in physical possession of the flat and that there are no pending dues or encumbrances related to the property, such as outstanding property taxes, unpaid maintenance fees, or legal disputes.
Check with the Local Authority: Contact the local municipal authority or development authority to confirm the property's status and verify the ownership details
Regards
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