Why Reading and Understanding Property Related Legal Documents are Necessary?
Jul 04, 2018 Legal Guidance
Often we come across the words like ‘Caution’, ‘Care’, while going through the property documents. As these words are repeated quite frequently, they might bore some of the buyers and one might not even give the documents a full read.
Here’s a thing, one should always give the legal documents a thorough read before signing the papers. Just taking care of things doesn’t ensure that your deal is safe; you need to know the legal things related to the deal as well.
Recently, there was a case in Chennai that has raised concerns. Sixty-six year old, Mr Nachippan has been fighting a case for his property that he holds in the posh locality of Chennai. Mr Elavarasan has been claiming his ownership of the property.
In his plea, Mr Elavarasan claimed that he bought the property from Mr Padmanabhan and others for Rs 1.25 crore on April 17, 2013. Since the sub-registrar refused to register it, the matter has been pending with the Inspector General of Registration. Based on the argument, Elavarasan moved to the court and argued that Nachippan and his heirs must hand him the property.
It was later found out that Elvarasan and Padmanabhan have forged the fake property papers and were trying to get the hold of property through them. Madras High Court ruled the Mr Nachippan is the rightful owner of the property and that Elvarasan and Padmanabhan together forged the property papers together to grab the property illegally.
Elvarasan was ruled to pay Mr Nachippan Rs 1 lacs as fine for the inconvenience that was caused.
Here’s a thing, one should always give the legal documents a thorough read before signing the papers. Just taking care of things doesn’t ensure that your deal is safe; you need to know the legal things related to the deal as well.
Recently, there was a case in Chennai that has raised concerns. Sixty-six year old, Mr Nachippan has been fighting a case for his property that he holds in the posh locality of Chennai. Mr Elavarasan has been claiming his ownership of the property.
In his plea, Mr Elavarasan claimed that he bought the property from Mr Padmanabhan and others for Rs 1.25 crore on April 17, 2013. Since the sub-registrar refused to register it, the matter has been pending with the Inspector General of Registration. Based on the argument, Elavarasan moved to the court and argued that Nachippan and his heirs must hand him the property.
It was later found out that Elvarasan and Padmanabhan have forged the fake property papers and were trying to get the hold of property through them. Madras High Court ruled the Mr Nachippan is the rightful owner of the property and that Elvarasan and Padmanabhan together forged the property papers together to grab the property illegally.
Elvarasan was ruled to pay Mr Nachippan Rs 1 lacs as fine for the inconvenience that was caused.
What does this teach us?
Looking at the above case, the entire process would have been taxing and draining to the elderly man. But he won the case since he held the right documents and he had the knowledge of what was there in his document.
Documents play a very important role in property purchase and selling. Kindly, do not overlook the reading and understanding of the document and terms. It is understandable that the words and legal jargons may be difficult for any common man to understand. To make things easier, one should hire a legal attorney to help them understand the legal words and jargons.
Reading and re-reading the legal document helps as well. Every time one reads the document, they learn something new about the deal. If there is something in the paper that is not clear or is confusing, then one must immediately contact the seller and discuss the same with them.
Reading and understanding the property papers are equally important as buying and doing full research of the property.
Documents play a very important role in property purchase and selling. Kindly, do not overlook the reading and understanding of the document and terms. It is understandable that the words and legal jargons may be difficult for any common man to understand. To make things easier, one should hire a legal attorney to help them understand the legal words and jargons.
Reading and re-reading the legal document helps as well. Every time one reads the document, they learn something new about the deal. If there is something in the paper that is not clear or is confusing, then one must immediately contact the seller and discuss the same with them.
Reading and understanding the property papers are equally important as buying and doing full research of the property.
Looking for property portal?
Related Articles
-
-
-
-
GST Council Clears Framework For New Tax Regime
Jun 01, 2017
See comments (0)
Write a comment
