Property Important Documents: Property registry is an important legal document. When you buy a new property, you get the property registered to prove ownership. It is very important to check the documents before getting the property registered. Because a small mistake of yours can cause huge losses. In such a situation, before buying a property, definitely check these five documents.
It is everyone’s dream to buy their own house or plot. Buying property is a big decision in everyone’s life. Your slightest carelessness while buying property can cause you a big loss. Many times, after buying property, not only financial loss occurs but you also have to go to court. In such a situation, the benefit is that whenever you buy a house, land, shop or any other property, do check the important documents related to the property.
Before property registration, do check these 5 documents –
Property Deed –
Property Deed is done in many ways. First, we directly meet a deed writer or advocate and tell them about our transaction and get the deed prepared and get the property registry done. Second, we get all the work done through a property dealer, in which the property dealer also does the work of getting the deed prepared. Whatever the situation may be, but keep in mind that the deed should be prepared four to five days before registering the property.
Many times, while preparing the deed, the writer just changes things like name and address and just copies pastes the previous registry. If any detail is entered wrongly in the registry, then it can cause a big problem in the future. In such a situation, it is better to get the deed prepared 4 to 5 days before the property registry and check everything thoroughly.
Verification of the deed – After getting the property deed prepared, check every detail related to the property. Make sure that the mutation of the property is in the name of the person who is selling the property to you. Secondly – the measurement and boundary mentioned should be correct. If you do not find any information given in the deed correct or do not understand anything, then you can take the help of an advocate.
Stamp duty on the deed – The calculation of the stamp duty on the deed should also be done carefully a few days in advance. Property experts say that while getting the title deeds made, we should always keep in mind that even if the stamp duty is a little higher, the documentation should be proper. Many times, people try to save stamp duty by writing wrong facts in the deed, but its recovery can also be taken. Therefore, it is better to give the correct information in the first time itself.
The most important and noteworthy thing here is that it is very important to check the title of the property whose registration you are going to do. For this, one should never wait for the day of registration. You should ask for a copy of all the title papers of the property from the dealer or seller through whom you are buying the property. Those papers should be carefully checked to see if the title chain is complete or not.
The dealer or seller should also be asked whether he has the original copy of all the documents available or not. If not, what is the reason for it and has any missing report been lodged with the police. Property experts say that if you have even the slightest doubt in the documents, then you should seek information from a property expert.
Possession of property – Before buying a property, you should check whether the seller has possession of the property you are buying or not. Many times a situation arises that you have bought a property and when you go to take possession of it, you find that it is in someone else’s possession. In such a situation, whenever you buy a property, you must get a possession letter prepared on stamp paper. It should have the signatures of both the buyer and the seller. If you record a video while taking possession of the property, then it is best for you.