How to Check Your Property is Legally Clear ?

How to Check Your Property is Legally Clear ?

By siliconindia   |   Friday, August 1, 2014


Bangalore : In the present scenario, Most of the home buyers are facing litigations and real estate issues over their newly acquired properties due to illegal construction and approval delays. There are lots of things to be checked before buying a property. Particularly, it is necessary to check whether the property is legally clear before booking it, even if it is a renowned project. Builders generally say that their property approved by the banks even though one must check the legal documents and construction approvals interrelated to project through legal advisor.

The following are some imperative tips that help you to make sure the property you are buying is legally clear.

Verify the legality of a property:

Collect all the legal papers of property for last 20 years. Check whether the previous vendor and present Vendee were same or not. If you notice both are different the Vendee has got the property from the vendor. Clarify this with the property owner.

Verify the Title deed:

Title deed from the seller should be clear; this is the most important verification to feel free from encumbrances. One can search the records at sub register office related to title deed. This report will consist of owner name and the related changes in the Title.

Verify Khata:

Khata is a legal document that sustains the title, which will have an entry of the present owner. This can be confirmed with local municipal records and it is required to check the Khata is changed in the present owner’s name as it is needed to acquire loans, Electricity bills etc…The advice is to consult a property lawyer.

Look over the project plan:

If the building plan is approved by the authorities in case of under construction project one can inspect the project plan. This can be done by relating the plan with actual built up area of the project. Verify the layout approval with concerned authorities.

Check for legal dues:

To check legal dues, one can verify the encumbrance certificate which certifies the property is free from all legal dues and mortgages. If the property is in a society, then no objection certificate is required to check the legal status.

Check the bank approvals

If you want to know the property is more legally clear, check whether the property is approved by leading banks. Banks will only approve properties which have legal clearance and valid documents. The banks would have checked all the necessary documents, title clearance and many to be sure that the property is free from litigations.

Realty experts suggest the property buyers to check the necessary documents and the builders profile along with a track record. It might seem a lot of things to do before owning a property because you will be investing a lot of money for this purpose.

 

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