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by Damini Chadha 25-Jul-2013

Documentation is critical while buying property - this will ensure a clear title.
A buyer needs to ensure the property's papers are in order and complete.The most important aspect of documentation is checking the authenticity of the papers.
It is always advisable to have the documents vouched by a legal expert.Moreover,you should opt for a sale agreement and pay the required registration charge and stamp duty,rather than purchasing on the basis of a power of attorney.

Certificate from society

As a buyer,you should also check the share certificate issued by the society.This establishes the identity of the seller.The share needs to be transferred in your name as the purchaser.This certificate forms a part of your ownership deed.

Title papers

In case you are
buying a property directly from a builder,you should check the title papers.These show who the owner of the property is.The original documents should be scrutinized.The papers will help you check whether the title is clear or the property is under litigation,whether the land is freehold or leasehold,whether the seller has the authority to develop and sell the property,and if the property is free of encumbrances.A clear title can be ensured when there's a conveyance deed in favour of the seller.

Municipal clearances

Another important document is the completion certificate issued by the municipal authorities.It shows whether a building complies with the rules in respect of height,distance from road,and whether it is built according to the approved plan.You should also check the occupation certificate.This document is issued when the building is ready for occupation.It certifies that the water,sewage,electrical connections,and fire safety,lift formalities,etc,have been completed.For those availing a loan,the bank normally appoints its own lawyer to check the title deeds.The bank may charge a nominal fee for this service.

NOC from society

You should check the noobjection certificate (NOC) issued by the society in case of a resale property.This NOC states there are no dues payable by the seller to the society or in compliance of some conditions stipulated by the society.

Purchase agreement

Another document that needs to be checked is the purchase agreement.This is the agreement between a seller and buyer.It ensures the seller is entitled to sell the property,states if there is a mortgage on the property,and shows if the mortgage money has been paid off.

Development agreement

If the property has been developed jointly by the owner and a builder,you should scrutinize the joint development agreement,which mentions the terms of development of the property.

Legal opinion helps

While reviewing these documents,you should insist on checking the original documents,too,rather than just the photocopies.This is an overview of the documents involved in a property transaction.It is always advisable to get a proper due diligence done by a legal expert before purchasing a property.

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