Title Search Report
Updated and Published on 7 June, 2017
What is a Title Search Report?
A Property Title Search Report is a vital legal document used in property transactions as an evidence of free title / ownership which certifies that the title of the property is clear, and that the property is free from all sorts of encumbrances such as mortgage, bank loan, dispute, pending litigation etc. The Report / certificate contains details of all the transactions registered in relation to a particular property during a certain period. If any transaction like a Sale, Gift, Mortgage etc. has taken place in respect of a certain property, it will be mentioned in the Search Report / Encumbrance certificate along with the details of the parties, date of registration etc.
Scope of Title Search Report
The report / certificate will reflect only those transactions that have been done though a registered document. If the transfer had been done through an unregistered document such as an unregistered power of attorney, agreement to sell, lease deed, will, Family Settlement, unregistered partition deed etc., details of such transactions will not be reflected in the Title Search Report. Apart from this, a Search Report may also include details of Property Tax Status / Dues, Mutation Status, any unauthorised construction, any Stay Order or injunction order given by Court, Permissible usage and zoning as per the Delhi Master Plan 2021 and Zonal Plans etc.
Importance of the Report
The report will help in finding out whether the property which the buyer is planning to purchase is free from all sorts of monetary issues and legal liabilities. It will help the purchaser in making a right and well informed decision with regard to the investment of his hard earned money in the property. If the report is positive, it provides an assurance and confidence to the buyer that the seller has a clear and marketable title and that the ownership of the property can be freely transferred by the seller. It helps in reducing the risk of litigations and disputes in the future and ensures that buyer does not face any unpleasent surprises later on.
Is it really important to get the Title search done? Why should I bother about it and spend some money on it?
You should bother about it because the cases of property frauds are very common these days and your entire lifetime's savings is at stake. So you just can't afford to take any risk and should take every possible precaution to ensure that you are investing money in the right property with authentic documents. Please go through the following recent news articles to understand why it is important to obtain a title search report / encumbrance certificate for verifying the genuineness of property deeds:
A Property Title Search Report is a vital legal document used in property transactions as an evidence of free title / ownership which certifies that the title of the property is clear, and that the property is free from all sorts of encumbrances such as mortgage, bank loan, dispute, pending litigation etc. The Report / certificate contains details of all the transactions registered in relation to a particular property during a certain period. If any transaction like a Sale, Gift, Mortgage etc. has taken place in respect of a certain property, it will be mentioned in the Search Report / Encumbrance certificate along with the details of the parties, date of registration etc.
Scope of Title Search Report
The report / certificate will reflect only those transactions that have been done though a registered document. If the transfer had been done through an unregistered document such as an unregistered power of attorney, agreement to sell, lease deed, will, Family Settlement, unregistered partition deed etc., details of such transactions will not be reflected in the Title Search Report. Apart from this, a Search Report may also include details of Property Tax Status / Dues, Mutation Status, any unauthorised construction, any Stay Order or injunction order given by Court, Permissible usage and zoning as per the Delhi Master Plan 2021 and Zonal Plans etc.
Importance of the Report
The report will help in finding out whether the property which the buyer is planning to purchase is free from all sorts of monetary issues and legal liabilities. It will help the purchaser in making a right and well informed decision with regard to the investment of his hard earned money in the property. If the report is positive, it provides an assurance and confidence to the buyer that the seller has a clear and marketable title and that the ownership of the property can be freely transferred by the seller. It helps in reducing the risk of litigations and disputes in the future and ensures that buyer does not face any unpleasent surprises later on.
Is it really important to get the Title search done? Why should I bother about it and spend some money on it?
You should bother about it because the cases of property frauds are very common these days and your entire lifetime's savings is at stake. So you just can't afford to take any risk and should take every possible precaution to ensure that you are investing money in the right property with authentic documents. Please go through the following recent news articles to understand why it is important to obtain a title search report / encumbrance certificate for verifying the genuineness of property deeds:
1. One Plot sold to Four different buyers (Indian Express - Mar 19, 2015)
2. Broker held for land deal with fake papers (Times of India - July 15, 2016)
3. Real estate irregularities: One plot, many owners, courtesy fraudsters (New Indian Express - Aug 01, 2017)
4. Man jailed for selling NRI’s property using forged papers(Hindustan Times - Aug 23, 2017)
5. Three cases of property fraud registered (The Hindu - Aug 02, 2015)
6. How scientists, doctors, were duped in a multi-crore bungalow plot scam (Hindustan Times - Jul 06, 2017)
7. 4 booked for property fraud (Times of India - Jun 20, 2016)
8. Fake papers of his own property made by seller (Times of India - Aug 6, 2014)
9. 3 arrested for preparing fake property documents (Times of India - Mar 7, 2014)
10.Serial property fraudster with Rs20 crore fake deals held (Times of India - May 30, 2014)
2. Broker held for land deal with fake papers (Times of India - July 15, 2016)
3. Real estate irregularities: One plot, many owners, courtesy fraudsters (New Indian Express - Aug 01, 2017)
4. Man jailed for selling NRI’s property using forged papers(Hindustan Times - Aug 23, 2017)
5. Three cases of property fraud registered (The Hindu - Aug 02, 2015)
6. How scientists, doctors, were duped in a multi-crore bungalow plot scam (Hindustan Times - Jul 06, 2017)
7. 4 booked for property fraud (Times of India - Jun 20, 2016)
8. Fake papers of his own property made by seller (Times of India - Aug 6, 2014)
9. 3 arrested for preparing fake property documents (Times of India - Mar 7, 2014)
10.Serial property fraudster with Rs20 crore fake deals held (Times of India - May 30, 2014)
When should one get a Search Report?
People generally obtain the report before buying and investing in a new property to ensure that the title of the seller is clear and marketable. It is also taken in case a person is taking loan by mortgaging the property. Some companies also obtain the report before taking an office premise / commercial space on Lease.
How to get the Title Search Report in Delhi?
The Title Search Report / Encumbrance certificate in Delhi is issued by a lawyer after checking the records of the local Sub Registrar office. The report can be obtained for any number of years, but they are generally taken for a period of last 12 years. It is better to get the report from an experienced and reputed lawyer specialising in real estate laws.
How much does the Property Search Report cost?
A title search is quite affordable and generally costs between 0.05% - 0.15% of the property value. People usually pay a commission of around 1% - 2% of the property value to real estate brokers. In contrast. a title search report costs just one tenth of the commission paid to the broker which is worth the expenditure.
How much time does a Property Title Search take?
The title search process generally takes around a week's time.
We provide Title Search Report and Encumbrance Certificate for Properties in Delhi.
To get the same, you may contact us at +91-8800418408.
Locations Covered - Naraina, Greater Kailash, Civil Lines, Green Park Extn., Kasturba Gandhi Marg, Rajinder Nagar, Preet Vihar, Sunder Nagar, Uday Park, Sukhdev Vihar, Safdarjang Enclave, Dwarka, Malviya Nagar, Rajendra Place, Alaknanda, Ring Road, Sarvapriya Vihar, Barakhamba Road, Karol Bagh, Shanti Niketan, Vasant Vihar, Vasant Kunj, Sarvodaya Enclave, Gulmohar Park, Rani Bagh, Nizamuddin East, Connaught Place, Vasant Vihar, NRI Colony, Chittranjan Park, Ashok vihar, Pusa Road, Friends Colony, Lodhi Colony, Punjabi Bagh, Anand Niketan, Mayapuri, East of Kailash, Hauz Khas, Anand Vihar, Daryaganj, Maharani Bagh, Lajpat Nagar, South Extension (NDSE), RK Puram, Saket, Panchsheel Enclave, Rajouri Garden, Mohan Cooperative Industrial Area, Defence Colony, Shalimar Bagh, Pitampura, Paschim Vihar,
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