PROPERTY DOCUMENTS YOU NEED TO CHECK

By
Services for Real Estate Pros with shri aditya group

Documentation is an essential and complicated part of a property acquisition process. Different states have different requirements. There are many laws that govern the process. However, you should have a checklist of documents to be verified before deciding on purchasing a house. These documents should be scrutinised before giving any advance to the seller. It is always advisable to have these documents vouched by a legal expert.

 

Here are some documents you need to have checked:

  

Purchase of freehold residential plot or house  

 

The main documents to be verified in such a case are: 

Copy of the sale deed through which the seller got his title to the property Copies of all earlier sale deeds - to verify the chain of past owners of the property  

Registration details of the sale deed Agreement to sell the property Receipts of payments made by the purchaser to the seller Copy of the sale deed for registration purposes  

Purchase of property from original allottee of a government development authority (for example BDA)  

 

The main documents to be verified in such a case are:  

Allocation letter Allotment letter Possession letter Receipts of payments made to authority  

 

Purchase of property from power of attorney (POA) holder of original allottee of a government development authority

 

The main documents to be verified in such a case are:   

Allocation letter from the authority Allotment letter from the authority Possession letter Receipts of payments made to authority Permission to mortgage Authorisation letter signed by the seller Receipts of payments made by purchaser to seller Verification of signature of seller from his bank General power of attorney Special power of attorney Will Agreement to sell the property

 

Purchase of flat in a group housing society from a original member of the Society

 

The main documents to be verified in such a case are: 

Share certificate issued by the society Lease deed of society Registration details of the society Bye-laws of the society No objection certificate from the society Approved building plan Title of builder Undertaking from society Allocation letter Allotment letter Possession letter Receipts of payments made to authority Permission to mortgage Authorisation letter signed from seller Receipts of payments made by purchaser to seller Verification of signature of seller from his bank

  

Purchase of flat in a group housing society from a power of attorney (POA) holder

The main documents to be verified in such a case are:   

Share certificate issued by the society Lease deed of society Registration details of the society Bye-laws of the society NOC from the society Undertaking from society Allocation letter Allotment letter Possession letter Receipts of payments made to authority Permission to mortgage Authorisation letter signed from seller Receipts of payments made by purchaser to seller Verification of signature of seller from his bank General power of attorney Special power of attorney Will Agreement to sell the property.

 

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Rainer
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Chip Jefferson
Advanced Building LLC - Lexington, SC
A complete review of all documents are a must to facilitate a sale or purchase. Good advice here.
Apr 18, 2008 10:50 PM #1
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Rainer
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