Introduction
Checking the legal documentation is one of the most important processes in buying a property. Making sure all paperwork is in order will help avoid problems down the road. Here is a list of things to look out for.
1. Title Deed
The title deed is the most crucial document as it proves the ownership of the property. Verify that the seller’s name is on the deed and that it is free from any disputes or liens.
2. Encumbrance Certificate
The encumbrance certificate certifies that the property is free from any monetary or legal liabilities. In order to guarantee a clean title and obtain a house loan, this document is necessary.
3. Occupancy Certificate
The occupancy certificate validates the building’s appropriateness for utilize and compliance with affirmed plans. The local authority in your zone is the one to supply this certificate.
4. Sale Agreement
The selling agreement outlines the terms and conditions that the buyer and seller have decided upon. Ensure that all relevant details, including the purchase price, the terms of payment, and the date of ownership, are included.
5. Other Approvals and NOCs
Find out from the appropriate authorities if you need any further permissions or NOCs (No Objection Certificates). Getting permission from the local development authority for fire safety, environmental protection, and authorization may be necessary for this.
Conclusion
Thoroughly checking property documents is essential for a hassle-free property purchase. By understanding what to look for, you can safeguard your investment and avoid potential legal issues.
