What Should You Do In Order To Check the Legality of Your Property Before purchase?
Dec 19, 2016 Legal Guidance
The confirmation of the legality of the property that you are planning to buy is a matter of serious concern. Many times the buyers have to become victims of false promises made by the builder or the agent. Moreover, there are many legal paper works like Stamp Duty, Land Tax, Valuation fees, Legal Property Verification process etc. that are needed to be taken care of.
A buyer must check whether the proper chain of documents is maintained if he is planning to buy a resale property. Documents stating the ownership of the property are essential in such transactions. This should be signed either by the builder or the owner of the property. Other documents like the revenue documents, sales deed of the new purchase, encumbrance certificate, etc. are also crucial. The buyer should register the sales deed with the revenue department.
Apart from these you should also be cautious about the following areas of property related legal matters:
Being duped by a family member on your property rights:
It is not an uncommon story in India where a family is cheated off its property rights by a relative or an extended family member. In such a situation the victim should take help from both criminal and civil resource to get back its claim over the property. The rightful owner of the property should lodge a FIR in the local police station and also file a suit. Then only the case of forgery would be properly established.
Frivolous Legal cases should be avoided:
If you are not the legal owner of a plot or a property and you are not even the owner’s relative, then it would be a foolish idea to claim any legal rights over the particular plot or the property in front of the court of law.
Hire a Lawyer:
Unfortunately, in a country like India, there is no guarantee of the sovereignty of the title. Therefore, it is always better to consult a reliable and experienced lawyer who would handle all your property related legal matters with complete integrity.
Complication related to property ownership:
Buying the property of a deceased person is a risky affair. Before finalising on such a property, see to it that there are no legal heirs to the property other than the person who is selling it.
Auction Properties:
Usually, there are two types of auction properties.
They are:
A buyer must check whether the proper chain of documents is maintained if he is planning to buy a resale property. Documents stating the ownership of the property are essential in such transactions. This should be signed either by the builder or the owner of the property. Other documents like the revenue documents, sales deed of the new purchase, encumbrance certificate, etc. are also crucial. The buyer should register the sales deed with the revenue department.
Apart from these you should also be cautious about the following areas of property related legal matters:
Being duped by a family member on your property rights:
It is not an uncommon story in India where a family is cheated off its property rights by a relative or an extended family member. In such a situation the victim should take help from both criminal and civil resource to get back its claim over the property. The rightful owner of the property should lodge a FIR in the local police station and also file a suit. Then only the case of forgery would be properly established.
Frivolous Legal cases should be avoided:
If you are not the legal owner of a plot or a property and you are not even the owner’s relative, then it would be a foolish idea to claim any legal rights over the particular plot or the property in front of the court of law.
Hire a Lawyer:
Unfortunately, in a country like India, there is no guarantee of the sovereignty of the title. Therefore, it is always better to consult a reliable and experienced lawyer who would handle all your property related legal matters with complete integrity.
Complication related to property ownership:
Buying the property of a deceased person is a risky affair. Before finalising on such a property, see to it that there are no legal heirs to the property other than the person who is selling it.
Auction Properties:
Usually, there are two types of auction properties.
They are:
- The default of loan: Properties that are confiscated and auctioned because the owner has failed to repay the loan within the stipulated time frame come under this category.
- Corner Property: Such properties are acquired through bidding. For this, a tender has to be submitted in order to initiate the bidding process. The highest bidder would get the property. But see to it that the Auction Sales Deed is clearly drafted and legally authenticated.
Hopefully, this article has given you some ideas regarding the legal issues related to property. And now onwards surely keep these aspects in mind when you are dealing with the legal aspect of any property.
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