Introduction –
The original documents of a property include the sale deed, title deed, property tax receipts, and any relevant encumbrance certificates. Buying Property This opportunity comes very few times in life for most of the people and he spends his entire life’s earnings for buying property. Hence, it becomes very important to exercise caution while buying a property. It is a big deal for a common man to give money for legal advice, so he avoids going to the legal advisor and people take advantage of these things and cheat.
We get to see many cases where a property is sold to many people, after taking the property, other owners stand in the property. We get to see many such cases. Judiciary system in India This low manpower and long process of justice, due to this it becomes very difficult to get justice, so it becomes our job to be careful while buying any property, otherwise civil cases go on in court.
The second generation has to wait to get justice, till then there is a lot of mental, financial loss. Today here we will see in detail what precautions should be taken while buying a property, including agricultural land, non-agricultural land or plot, and what precautions should be taken while buying a flat from a builder or developer.
Property Document Check List –
If we want to buy a property, then we do not have complete information about how many documents are processed and people take advantage of this and cheat people. As we have seen in civil cases justice takes a lot of delay, so it is good for us to be careful in advance. So even if we can not afford to spend for legal advice, still we spend huge amount to buy property. That’s why legal advice must be taken.
But still you do not want to take, then definitely give loan proposal for that property from any government bank or good bank if you are taking loan from any other bank. Because of this, big banks investigate the property at both the technical and legal level of the property, so do this work and what are the documents required to buy the property and what is the importance of each document.
In this, the laws of each state are different, so whatever property list will be told, according to what is going to be common documents for everyone, according to this, you have to see the list by adding the special documents of your states.
Sale Deed Documents –
It is also called as Title Deed or Mother Deed / Conveyance Deed, it is an important document of the sale of the property, in which the names of both the seller and the buyer appear in it and it is necessary to register it with the local registrar within four months. The government takes this responsibility to give legal form to this behavior and for this the register amount has to be filled according to the Registration Act.
This document is very important for the resale of the property, so it is necessary to have a proper name on this document. This document is available to us in the original form or in the original form which we can use for loan proposal or if the property is without loan then it has to be kept with us in the original form.
For this document, the signature is affixed in front of both the seller and the buyer and two witnesses are affixed on the signature document of the person for validity. Sale deed The document after the completion of this transaction is said to be part payment, then it is called a sale agreement It is called and after the completion of the agreement of how to pay the full amount, it is called a sale deed.
Chain of Title Documents –
In this, all the transactions of the property you are buying have to be collected, and all the owners you see in the chain of documents that have changed, are there some missing links in this to see.
This work will be a bit headache, but you will have to do this work to avoid any problem in the property you are taking. For this, you have to keep all this information so that when you appoint your legal consultant, you will be able to understand that work properly or you will be able to do it yourself.
Encumbrance Certificate –
This certificate is provided by the sub registrar of the area in which the property is located, for this application has to be made and the fee has to be paid according to the number of transactions that have taken place in that property. This certificate gives the details of how many transactions have taken place from the first sale of this property. With this, you can know whether the person who is selling you the property is in his name or not.
Completion Certificate –
The completion certificate is given by this local authority like municipal corporation, so that whatever property you are buying, it will be understood by passing its building approval plan or not. If you are buying property in flat or resale then it is necessary to see this document.
Occupancy Certificate –
This certificate is given by the local authority, when the building is fully habitable for the people, after inspecting it, the local authority gives permission to the developer to use or sell the building, it is called occupancy certificate. It is necessary to have this document while buying a property, otherwise there may be problems in selling the property later.
Allotment & Possession Letter –
Allotment letter This developer or builder or society gives to the buyer. When the buyer applies for bank loan, this document has to be submitted to the bank, in which the transaction amount, advance payment, seller and buyer’s name is written in detail. With this, the bank gets to know how much amount the buyer has given to the seller and how much loan amount has to be passed on to the buyer. This document is in the original form.
Possession letter is a necessary document and it should be available in the original form which is the document that the builder or developer has transferred the property to the buyer.
Payment Receipt –
Cash amount should not be given in most of the big transactions, it becomes very difficult to keep records of it and keep taking receipts of payment from the builder or developer in the original form from time to time by check or online transaction, this very important document to be used as a whole. can be.
Mortgage Documents Details –
If you are buying a property from the seller, then ask for its mortgage details, how many documents are kept with the bank in it, which is a list of document letters, you can take the loan details statement with it, so that you can understand how much loan is left on the property.
Property Tax Details –
While buying a property, it is very important to see these documents so that you can understand how much property tax has been paid and how much is left and keep the name of the property owner properly written or property tax on the old name, all this information from your local authority. can leave. Check the area of ​​the property so that there will be no problem later.
Utility Bills –
In this, water bill, light bill, gas connection bills, whether all these bills are equally filled or not, it will have to be seen equally, otherwise after buying the property later this amount is very big many times, so it is necessary to check all these bills. .
Parking Area Documents –
This is often the buyer forgets the document because many times the parking of many societies is common, many times there are many problems in the parking distribution and once the property is bought, we have to repent and in future to sell the property, problems are created. .
NOC of Society –
To fulfill the sale deed, it is very important to have this certificate, that the property which is a registered society, has to take a certificate that no payments are left to the seller. There are many problems in this later, so this document is necessary.
Title Search Details –
If you are buying property, open plot or agricultural land, then always get the title search report done by a legal expert. In this, details of how many transactions have been registered in the property in the last thirty years are available. If there is any dispute, then it is found, meaning this report gives complete information about the property, because while buying a ready-made property, you mainly take the property by loan and the bank passes the loan after filtering that property completely from their technical experts.
Due to which there is any dispute in the property, then it is understood in advance, but in the case of open plot and agricultural land, the bank does not give loan, so this behavior is directly between the buyer and the seller, due to which there are more chances of fraud, hence such behavior. It is very important to spend money for title search report.
General Power of Attorney –
It is an authority which gives authority to the seller as his representative to another person to buy or sell his property, this document is called General Power of Attorney. If the property you are buying, if any transaction is done with General Power of Attorney, then it is necessary to keep a copy of that document.
Mainly do not do any behavior on power of attorney because in most such cases the chances of getting disputed in future are high, so it is necessary to avoid such behavior. If you have such documents in the purchase or sale of your property, then you have to keep them in the document.
Conclusion –
It is understood from the words of many people that they do not follow the entire document process and are getting property at a low price, so they buy it, as many land is reserved under special government laws. On which people sell land by plotting at a low price, we see thousands of such practices every day which have no value in the eyes of law.
Therefore, while buying a property, it is always good to buy a property only after checking all the documents. Because there is no dispute on the property, but the property is not a clear title, many such properties are available in the market, the price of which is very low, so people buy it from the market rate, but in future there are problems in selling or construction.
So here we have seen which documents are important while buying a property and they are available with which authority. It is necessary to check all the legal documents because sometimes we spend our whole life’s capital while buying the property and in such case the chances of fraud are high or disputes are created after taking the property.
In civil cases, cases get stuck in court for years, so it becomes important to be careful beforehand. Therefore, here we have given a complete list of the documents that we mainly put while buying property. Each state has its own separate process, but mainly the documents that we have mentioned here will not give you any problem while buying a property.
This information will be beneficial for you only if you give the work of your property to a legal expert, then we examine whether he works with this proper process or not.