It’s always a matter of great pride for an individual to own a house. Many do it by means of acquiring a loan, and a few does it by means of ready cash generated of years of hard work. The fact is that buying a house is not just a matter of deciding on a price and buying it, but to ensure that all the documents are in order before you invest in the same. This blog mainly focuses on the must follow legal document checklist before buying a house that a prospective owner should keep in mind before making the final investment.
Sale Deed – As part of the Registration Act, a sale deep is one of the most important documents while considering to buy a property, both for the seller and the buyer. The sale of a property is not considered legal if a sale deed is not registered. The buyer should ensure that the seller has cleared all the statutory payments like maintenance, tax, electricity bills, etc. are paid before finalizing the sale deed. The buyer should also ensure that the property has a clear title. All the pages of the sale deed are to be signed by the parties concerned in the presence of two witnesses. All the documents must be presented within four months from the execution date for registration.
Mother Deed – Mother Deed is another important document to possess while transferring or buying a property. A Mother Deed is a document which enables the buyer to trace the ownership of the property in relation to the seller. The seller should be able to validate the factors as to how he got possession of the property and the documents should be arranged in chronological order before submitting to the authorities. In case any of the data is missing from the chronological order then it is mandatory to collect them from the relevant registration office.
Building Approval Plan Certificate - The Building Approval Plan is a mandatory document to possess. The owner of the property must get the building plan registered to with the jurisdictional commissioner or an appointee authorized by the commissioner. This certificate authenticated the footprint and design of the structure and the fact that it follows all the rules and regulations specific to the area. A few supporting documents are needed to get the approval certificate and they are as follows – Title Deed, Property Assessment Extract, Property PID number, City/Panchayat survey sketch, Up-to-date tax receipt, Earlier sanction plans, Drawings of the property, Demand drafts, Foundation certificate and Land use certificate.
Conversion Certificate – If the property falls under an authorized agriculture zone, then it is important for a Conversion Certificate or an NOC to be obtained. This is needed to convert a piece of property meant for agriculture purpose to non-agriculture purpose. The documents required to be submitted are as follows - Copies of the R.T.C extracts, Village map, land sketch, certified copy of the land tribunal, zonal certificate, Title deed, no-dues certificate by village accountant and a copy of the mutation records.
Commencement Certificate – This certificate is provided by the local authorities to builders who would want to start their development in an acquired piece of land. The Commencement Certificate is a green signal for developers to begin construction from the authorities and that their proposal meets all codes set by the administration.
Encumbrance Certificate - This certificate is important as it gives the seller an idea of the baggage in the form of loans or pending taxes that has to be paid for the property in question. The EC is a vital document for the seller as it gives him/her an overall idea about the land is it has a free title or not.
Power of Attorney – The POA document refers to the rights given by the actual owner of the property to another individual to perform the sale or any other transaction that he/she might deem fit. The actual owner has to register the POA with the authorities for the same to be valid.
Tax Receipts - A buyer should ask the seller for up to date receipt for the taxes paid for the land. The buyer should also directly enquire with the local land authorities and cross verify if all the taxes are paid and that the receipts are authentic. Make sure to check any remaining dues like electricity and water bills to ensure that no dues are being charged to the new owner after buying the property.
Completion and Occupancy Certification – The completion certificate literally means that the authorities are happy with the final footprint of the structure and that the builders have followed all the norms to the core and the Occupancy Certificate is give after the final inspection of structure giving the go ahead for the occupants to move in and that the structure is officially legal.
Even if you have all the above-mentioned documents, there are chances that new laws will be introduced from time to time and updates being made to the existing formalities. It is always wise to consult a professional real estate agent or even a lawyer specializing is real estate laws and sanctions to verify all the documents before committing your hard earned money. Hope this blog on the must follow legal document checklist before buying a house was helpful. Feel free to share your thoughts and comments.
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