Property: Buying a home is a major decision in life. It involves your hard-earned money. Therefore, it’s crucial to check the legal documents before purchasing a property. Checking all documents can help prevent future problems and losses.
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Property: Buying a home is a major decision in life. It involves investing your hard-earned money. Therefore, it’s crucial to verify legal documents before purchasing a property. Checking all documents can help prevent future problems and losses.
1. Title Deed
The title deed identifies the true owner of the property. It should also be clear that the seller has the legal documents to sell the property. Buyers should ensure the title is clear and free of disputes. Also, check the records of previous owners. A clear title prevents legal hassles later on.
2. Encumbrance Certificate
This certificate indicates whether there are any loans, mortgages, or legal claims on the property. This document is available from the Sub-Registrar’s Office. It’s important to review records over several years to determine if there are any hidden debts on the property.
3. Sale Deed
The sale deed is the document that transfers ownership. It is the most important document after purchasing a property. It must be properly registered. It contains complete property details, the names of the buyer and seller, and the price.
4. Approved Building Plan and Occupancy Certificate
If you are purchasing a flat or a built-up house, the building plan must be approved by the local authority. Completion and occupancy certificates confirm that the building is built as per regulatory requirements and is safe for living. Failure to do so may result in fines or problems with electricity and water connections.
5. Property Tax Receipt and Mutation Record
A recent property tax receipt confirms that all taxes have been paid. A mutation record confirms that the property is registered in the seller’s name in government records.
Why is it important to verify documents?
Verifying documents can help you avoid fraud. It reduces the risk of future court cases or financial loss. If necessary, seek the help of a legal expert before purchasing a home.
