Things to Remember While Preparing the Property Document
Sep 26, 2018 Real Estate News
Preparing a property document is a crucial task and should be done with utmost care. Any vital piece of information missing or not appropriately recorded can cost both the seller and the buyer a lot of time and money, not to mention the hassle to go over the deed again.
We discuss the things one should always remember while preparing the property document:
If the spellings of names are mentioned differently in various documents, then it is advised that you record all the different versions of names as the alias.
If the woman is mentioned as a daughter of and in another document mentioned as wife of, then it is advised to mention both to avoid any confusion in future.
It is pertinent to have reputed citizens as the witness for the document.
Property documents are critical when buying or selling the property. Their details must be recorded taking care and leaving none of the essential information behind. If one has any doubt, they should ask the professional for advice and help in creating the documenting.
We discuss the things one should always remember while preparing the property document:
Name of both the parties
It is one of the most critical parts in any sales deed. Recording the correct name with the correct spelling is essential. To make sure you have got the right spelling, it is advised to check and cross check it with the government documents like passport, Aadhaar card, academic record or any other valid government-issued document.If the spellings of names are mentioned differently in various documents, then it is advised that you record all the different versions of names as the alias.
If the woman is mentioned as a daughter of and in another document mentioned as wife of, then it is advised to mention both to avoid any confusion in future.
Age
Mentioning the correct age of both the parties is essential. It is advised to cross-check the age of the person with the valid government document and not mention the approximate age but the correct age.Address and profession
The permanent and current address of both the parties should be mentioned correctly along with their profession and their place of work.Document numbers
It is essential to record the correct link document number, date of registration, sub-registrar and registrar office name, and the district name.Amount Paid
The amount paid to buy the property should be mentioned correctly in words as well as numbers. This is an integral part of the documentation process and must be done carefully.Location of the property
Mention the address and the location of the property down to the state, district, colony and street. If the property is an apartment, then it is essential to mention the name of the building and the allotted flat number. If there is any road next to the building, then it must be mentioned with its width.Witness
Having witness plays a crucial role in case of dispute regarding the document’s validity. The Transfer of Property Act mentions that both the parties must have at least two witnesses during the registration, but if any parties wish to have more than one, then they are allowed to have that.It is pertinent to have reputed citizens as the witness for the document.
Property documents are critical when buying or selling the property. Their details must be recorded taking care and leaving none of the essential information behind. If one has any doubt, they should ask the professional for advice and help in creating the documenting.
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