Property papers: Cases of property fraud are very common these days. A huge amount has to be paid to the seller to buy a property, so every step should be taken with caution. First of all, you must check 10 property documents. After checking these documents, you will be able to make a fair deal of the property (property news). If even one of these papers is missing, you may suffer a huge loss.
Property knowledge Being hasty in buying property can prove to be costly for you. Your entire capital can be lost due to a small negligence. Therefore, it is better that you do a thorough investigation about the property and buy all the documents related to it (property papers).
This prevents the risk of fraud and you can also avoid any kind of dispute and legal hassle in the future. Especially, you should definitely check 10 documents related to property (property purchasing tips). Let us know which are those important documents.
1. It is important to check the old registry –
If you buy any property, first of all, check who owned this land before the current owner. For this, you can check the old registry. This will make it clear to you in whose name the property is registered, many times people make others victims of fraud by making a deal of land registered in someone else’s name (property buying tips).
2. Power of Attorney document –
Many times the property owner gives the right to buy or sell the property to another person. If the seller of the land does not have the land in his name, you may be cheated. Therefore, check whose name the property is in and whether its power of attorney is with someone else or not. If someone else has the power of attorney, then definitely check this document.
3. Land NOC –
Before buying any property, definitely check the No Objection Certificate (property NOC). This tells whether anyone has any objection to the sale or purchase of a property or not.
4. Property owner’s ID –
If you go anywhere, you must have an identity card in your pocket everywhere. Nowadays, this is the first document to be checked. While buying a property, definitely check the owner’s identity certificate, especially when you do not know him. Before buying land, the address proof, bill or driving license of the property owner must be checked.
5. Possession letter –
The possession letter shows who is in possession of the property. It also gives the date of possession.
6. Encumbrance certificate –
It must be checked whether there is any tax or loan due on the property or not. This will be known from the Encumbrance Certificate. If this is the case, you can check the latest tax receipts. There should not be any dispute on the land.
7. Sale deed and title deed
Sale deed and title deed should also be checked. In this, you will get complete details regarding the sale of the concerned property and you will be able to know in whose name the property is.
8. Completion Certificate –
For any newly constructed property, you can ask for the completion certificate of the property from the concerned property owner. For a property under construction, you can ask the landlord to show the commencement certificate.
9. Conversion Certificate –
If agricultural land is converted into non-agricultural land, then a conversion certificate is required for this. The property buyer must also check this.
10. Occupancy Certificate –
Occupancy Certificate is an important document of property, it is needed while taking a loan. Occupancy certificate is also required while applying for electricity and water connection.