Description
In India, we follow strict & lengthy documentation procedures in the property registration process.
The sale of immovable property of more than All transactions of sale. property above RS.100 is compulsory under registration act 1908. Section 17.
The buyer must always be very clear about the Legal documents for buying a plot. Buying a plot and examining it before signing a deal.
Property investments are capital intensive.
The land has been the best investment since the beginning of time.
The checking process must be done, to make sure that the buyer has a fair right over the property.
It should bring peace of mind and a sense of security to the buyer.
In real estate investments, the goal is to put our money to work today so that we have more money in the future.
The value will increase in the coming years and there is no depreciation value for lands.
If we make a mistake, the consequences can range from minor inconveniences to major disasters.
The property should be free from legal issues.
Identifying the problems beforehand saves more expenses in the future.
With proper legal advice, scrutiny of documents and verification of relevant information about the property must be done.
This Sale deed is a legal documents for Buying a plot that records the change of possession of title, rights, and ownership of the property to the buyer from a seller. When the two parties in a property transaction agree, the title of the property is transferred through a sale deed.
This is an essential document, both the buyer and the seller are required to be present at the time of the deed.
The name and details of both parties must be mentioned in the deed is done at the sub registrar’s office.
While buying a property, need to trace at least 30 years of history. Documents that identify the later owners of the property up to the present owner should be traced.
In case of Documents missing, the buyer can trace the title from the earliest document that the seller has.
The buyer can register an F.I.R. An advertisement can be published in a Newspaper within a time frame. If no one claims ownership within that time frame, the property will be considered legal.
The Encumbrance certificate shows whether the property is free from monetary and legal liabilities.
One of the most important documents which were taken a loan against property from banks it shows all the details about transactions relating to the asset.
It will help to achieve proper entitlement.
It holds the name of all owners from the past 12 to 30 years.
It also includes the ownership title transfer, mortgages, etc.,
It also states that the property is free from all encumbrance.
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