Take care of property transfer papers.

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Change in property ownership or transfer of property in such a process which involves plenty of paper work. Special attention should be paid to all the paper work so as you are not cheated by malafied intention of any party. Let us explain you some documents which are required at the time of a deal.

  1. While Buying Property From a Developer:

Every bank and some financial institutions keep with them a list of developers. This list is prepared after verifying their credibility. Here you are required to see the following documents only:-

  1. Agreement to sell
  2. lease agreement with bank or financial company
  3. Receipts of all payments
  4. While Buying a Freehold Property:

At the time of transfer of freehold residential property, you are required to possess some important documents. Only them the transfer process shall be treated as complete otherwise incomplete documents will only create a problem for you:

Copy of the sale deed under which seller got the ownership right of the property.

  1. Copies of all sale deeds of the property executed till date to verify the names of all buyers.
  2. Agreement to sell.
  3. Receipts of all payments made by the purchaser
  4. Copy of new sale deed for registration
  5. While buying a flat from original allotee of a group housing society.
  6. Here is a list of some such documents which are required at the time of transfer of group housing society. But be careful, these are applicable when the seller is an original allottee:
  7. Share certificate of the society
  8. Lease deed of the society
  9. Property title of the builder
  10. Society's undertaking certificate if the property is under construction
  11. Allocation, allotment authorization and possession letter
  12. Payment receipts made to authority
Prior permission to mortgage property if needed in future

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Lu Kalaj
Vision Realty Centers - Brighton Township, MI
Its too bad that malafication can occur, in such what seems to be simple.  Thank you for the blog on taking care of transfer papers, it is crucial for buyers indeed.  Hope you have a great 2008.  Lu
Feb 10, 2008 11:00 PM #1
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