Make your property legally clear

There are a lot of things that need to be done once you decide to buy a house. It’s worthwhile to maintain a check-list and tick off things that have been done. This will help you to systematically go ahead with the process of buying house.

Here you will find listed the main things that you need to check to make sure the property you are buying is legally transparent.

1. Check for clear title papers

It is essential that you check the legal documents of a property before you make the payment for it. The most important of which is checking if the title is clear or not and regarding this it is advisable to consult a property lawyer.

2. Check to see if it is approved by leading banks

One sure way of knowing if the property is more or less legally clear is to see if it has been approved by leading banks. Banks will only approve of properties which have legal clearances with valid documents.

3. Check if there are any mortgages on the property (in case of resale)

An individual who owns a property can avail of a loan against it. While buying a property (in case of resale), be sure to make a thorough research if the property has been mortgaged or not.

4. Check the constructed area and the sanctioned area

Before deciding on a property, ask the builder for the sanctioned plan and compare it with the actual built up area. This is because sometimes there are illegal constructions that are not in accordance with the sanctioned plans.

5. Check for encumbrance certificate

An encumbrance certificate contains the details of previous registrations which can be availed from the sub registrar’s office. It has a multifaceted advantage, it is a proof of free ownership and it also testifies that the property is free of any legal dues or mortgages,

6. Check if property tax has been paid regularly

Since paying the property tax is an annual thing, it helps to make sure that all the papers are in order. It shows a sense of responsibility on the part of the owner and also is an assurance of his having valid documents.

7. Check if property has a registered society (in case it’s not a new construction)

The presence of a registered society (in case it is a completed construction) of a property increases its chances of being legally clear. Since the process of registering a society itself involves a legal process, it makes it necessary to have all its papers in order.

It might seem a lot to do before buying a property, but since you will be investing a lot of your savings and maybe also take a loan for this purpose do take this seriously. After all a legally clear property also brings with it, peace of mind.

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