The most important step before buying property – Title verification

Last Updated at: January 14, 2020
1631

Law assists only those who are watchful in every action of their life and rigid to those who tend to act with total incomprehension. Withal, such an ignorant act may sometimes tag him as fraudster whereon he inclines to commit an offence without his knowledge.

BE A VIGILANT INVESTOR:

Once you have decided to invest your hard-earned money in a long-term investment such as property, you must also ensure that you do the same with an eagle eye. Purchasing of an immovable property for your future needs must not be turning into a disaster and put you in hectic situations at a later point in time. The buyer should always ensure that there is monetary triumph though he makes fast and furious decision to purchase the property immediately.

WHY PROPERTY NEEDS TO BE VERIFIED?

No one can deny the fact that the civil courts in India are burdened with litigations where almost major subject matter is the “property”. Among those half, the matter falls into the category where the buyer has filed the suit due to his failure to scrutinize the title of the property properly at the time of its purchase. A first-time buyer or an experienced buyer – whoever he may be, a good amount of base work has to be done before purchasing a property whereupon he needs to inquire and verify a lot about the documents. Before rushing to the Sub-Registrar office for the purpose of registering, the prudent buyers are required to verify the title of the property; which can easily be done with the help of the Attorney.

LEGISLATIONS:

There are certain procedural and substantive laws to guard you against all odds when it comes to the point of buying the property or after it has been bought. To name an important few; The Transfer of Property Act, 1882, Indian Registration Act, 1908, The Real Estates Regulatory Authority Act, 2016, etc. All these enactments pinpoint certain procedures to be followed by the seller and buyer in order to prevent the illegalities from happening.

Get Your Property Registered

INITIAL VERIFICATION AT DOOR-STEP:

The Government has taken all possible steps to ensure transparency in maintaining the revenue records; and with the digital technologies available, one can easily inspect the data which provides for accurate information. The purchaser can make his work half done by just visiting the official sites of the concerned states which are exclusively maintained for keeping the records. Here comes the role of Attorney again so as to assist you in examining the same thereby to complete the preliminary verification.

RIGHT TO DEMAND THE SELLER:

The more the right is enforced, the less in trouble the buyer is. The purchaser is vested with ample rights as such he is investing a huge amount of money to acquire the property. Many of the buyers are unaware as to the things which he should demand from the seller, while being so, the Attorney can save him and see to that the story does not end in tragedy.

NON-IDENTICAL IN NATURE:

Each property has its own nature and tracing the title to the properties differs from one to another. Some might have plentiful documents but important revenue records will be missing and vice-versa. On the other hand, the document has to be cross-checked in the records of Sub-registrar office so as to examine its genuineness. Here comes the role of Attorney to aid you perfectly and to provide a complete structure about the property which you desire to get. The Attorney will give you an ideal search report in the form of an opinion whereby you get to know about the utter history of the property and can proceed further without any doubts in your mind.

HOW THE ATTORNEY HELPS YOU?

Once you engage the Attorney to give an opinion for the property, he acts on your behalf and insists upon the deliverance of certain documents from the vendor. The following is the checklist of work to be done by the Attorney in the interest of vendor;

  • First and foremost step is to check the flow of marketable title (from the mother deeds) so as to ensure free encumbrances.
  • To check the classification of property, survey numbers, boundaries, layout, sanctioned plans, etc from the revenue records.
  • To check whether the vendor has absolute right to transfer the property and not that of mere life interest.
  • No Objection Certificate from other co-owners if the property is to be purchased from one of the joint owners.
  • If it is an ancestral property, family tree has to be verified and documents like a death certificate, legal heirship certificate, probate in case of Will, succession certificate, partition deed, settlement deed, etc are to be called upon – depending upon the necessity in each and every cases.
  • Up-to-date payment of property tax or kist receipt.
  • The order of the court if the vendor is official liquidator.

The above-mentioned list is only illustrative and not exhaustive whereby the examination depends on the transactions done earlier.

CONCLUSION:

It is Sine Quo non to do due diligence of property before entering into any transaction. It is always advisable to consult the Attorney to know about the legal issues involved in the property so as to avoid nightmare in the form of protracted litigation in the court of law.

This article is to clear all doubts regarding title verification of properties and help you identify any ploy that may be intertwined while making any transactions pertaining to property. We make property transactions simple. #CatchingTheCatch

The most important step before buying property – Title verification

1631

Law assists only those who are watchful in every action of their life and rigid to those who tend to act with total incomprehension. Withal, such an ignorant act may sometimes tag him as fraudster whereon he inclines to commit an offence without his knowledge.

BE A VIGILANT INVESTOR:

Once you have decided to invest your hard-earned money in a long-term investment such as property, you must also ensure that you do the same with an eagle eye. Purchasing of an immovable property for your future needs must not be turning into a disaster and put you in hectic situations at a later point in time. The buyer should always ensure that there is monetary triumph though he makes fast and furious decision to purchase the property immediately.

WHY PROPERTY NEEDS TO BE VERIFIED?

No one can deny the fact that the civil courts in India are burdened with litigations where almost major subject matter is the “property”. Among those half, the matter falls into the category where the buyer has filed the suit due to his failure to scrutinize the title of the property properly at the time of its purchase. A first-time buyer or an experienced buyer – whoever he may be, a good amount of base work has to be done before purchasing a property whereupon he needs to inquire and verify a lot about the documents. Before rushing to the Sub-Registrar office for the purpose of registering, the prudent buyers are required to verify the title of the property; which can easily be done with the help of the Attorney.

LEGISLATIONS:

There are certain procedural and substantive laws to guard you against all odds when it comes to the point of buying the property or after it has been bought. To name an important few; The Transfer of Property Act, 1882, Indian Registration Act, 1908, The Real Estates Regulatory Authority Act, 2016, etc. All these enactments pinpoint certain procedures to be followed by the seller and buyer in order to prevent the illegalities from happening.

Get Your Property Registered

INITIAL VERIFICATION AT DOOR-STEP:

The Government has taken all possible steps to ensure transparency in maintaining the revenue records; and with the digital technologies available, one can easily inspect the data which provides for accurate information. The purchaser can make his work half done by just visiting the official sites of the concerned states which are exclusively maintained for keeping the records. Here comes the role of Attorney again so as to assist you in examining the same thereby to complete the preliminary verification.

RIGHT TO DEMAND THE SELLER:

The more the right is enforced, the less in trouble the buyer is. The purchaser is vested with ample rights as such he is investing a huge amount of money to acquire the property. Many of the buyers are unaware as to the things which he should demand from the seller, while being so, the Attorney can save him and see to that the story does not end in tragedy.

NON-IDENTICAL IN NATURE:

Each property has its own nature and tracing the title to the properties differs from one to another. Some might have plentiful documents but important revenue records will be missing and vice-versa. On the other hand, the document has to be cross-checked in the records of Sub-registrar office so as to examine its genuineness. Here comes the role of Attorney to aid you perfectly and to provide a complete structure about the property which you desire to get. The Attorney will give you an ideal search report in the form of an opinion whereby you get to know about the utter history of the property and can proceed further without any doubts in your mind.

HOW THE ATTORNEY HELPS YOU?

Once you engage the Attorney to give an opinion for the property, he acts on your behalf and insists upon the deliverance of certain documents from the vendor. The following is the checklist of work to be done by the Attorney in the interest of vendor;

  • First and foremost step is to check the flow of marketable title (from the mother deeds) so as to ensure free encumbrances.
  • To check the classification of property, survey numbers, boundaries, layout, sanctioned plans, etc from the revenue records.
  • To check whether the vendor has absolute right to transfer the property and not that of mere life interest.
  • No Objection Certificate from other co-owners if the property is to be purchased from one of the joint owners.
  • If it is an ancestral property, family tree has to be verified and documents like a death certificate, legal heirship certificate, probate in case of Will, succession certificate, partition deed, settlement deed, etc are to be called upon – depending upon the necessity in each and every cases.
  • Up-to-date payment of property tax or kist receipt.
  • The order of the court if the vendor is official liquidator.

The above-mentioned list is only illustrative and not exhaustive whereby the examination depends on the transactions done earlier.

CONCLUSION:

It is Sine Quo non to do due diligence of property before entering into any transaction. It is always advisable to consult the Attorney to know about the legal issues involved in the property so as to avoid nightmare in the form of protracted litigation in the court of law.

This article is to clear all doubts regarding title verification of properties and help you identify any ploy that may be intertwined while making any transactions pertaining to property. We make property transactions simple. #CatchingTheCatch

FAQs

No FAQs found

Add a Question


No Record Found
SHARE