Encumbrance Certificate: Buying a house or flat in a major city requires extreme caution. When purchasing a property from a builder, you should ensure that all documents are in order and are transferred to you. One such document is the Non-Encumbrance Certificate, which is crucial for your needs.
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Encumbrance Certificate: Buying a home is no less than a dream for the common man. In today’s ever-rising inflation, many people have to take out loans to purchase a home. If you are also buying a home, you should be aware of the essential documents to obtain from the builder. The investment in property is significant. Therefore, any mistake made during this process can cause significant problems in the future.
In such a situation, it becomes essential for the buyer to exercise all necessary caution when checking property documents. One such document is the Non-Encumbrance Certificate. It is as important as the property registry and mutation documents.
Why is this certificate necessary?
Experts say that just as important as the registration papers and mutation documents are for purchasing any property, a non-encumbrance certificate is equally important. This is even more crucial for buyers in major cities like Delhi and Mumbai. Therefore, when purchasing a home from a builder, be sure to obtain a non-encumbrance certificate. Just as important as the registration papers and mutation documents are for purchasing a property, a non-encumbrance certificate is equally important. When purchasing a home from a builder, obtain a non-encumbrance certificate for the property.
Learn what a Non-Encumbrance Certificate is.
An Encumbrance Certificate is a record that contains details of all financial transactions related to your property. A Non-Encumbrance Certificate is a legal document that declares that there are no registered encumbrances against your property. Once you repay your home loan, your Encumbrance Certificate reflects all repayment details. A Non-Encumbrance Certificate typically contains 12 years of transaction information related to a property. This means it contains the property’s entire history, including who bought it, who sold it, its value, and whether there are any loans on it.
Where to get the certificate?
According to a report published in News 18, to obtain a non-encumbrance certificate, you must go to the tehsil and fill out a form. This form also carries a non-judicial stamp of two rupees. The form must also include the reason for seeking the certificate and an attested copy of your address proof. The form must include the survey number, location, and other details related to the property. After completing the application, submit it to the sub-registrar’s office. You will receive the certificate within 20 to 30 days.
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