Verification of Property Title Documents
Need for Property Document Verification and Title Search
A house is one of the most expensive purchase and the most important investment decision of life for most of the people. Many people invest their entire lifetime's savings in buying a property. That is why it is so important for them to get the property documents such as the Sale Deed, Agreement to Sell etc. verified and checked before purchasing the property.
The instances of people selling properties on the basis of forged documents are increasing these days. There are many people who commit fraud and cheat the buyers by selling a property with imperfect and defective title and then disappear once the buyer has paid the money to them. In such cases, it is presumed in law that the buyer had constructive notice of the defect in the title of the seller.
Therefore it is for the buyer to satisfy himself as to the validity of the title of the seller so as to avoid any legal complications in the future.The purchasers are under a legal obligation to get the title documents of the seller verified so as to ensure the genuineness of the Title Documents.
The person should get an Encumbrance certificate / Title Search Report / Due Diligence Report from a good property lawyer to ensure that the seller is competent to transfer the title of the property. The search report can be obtained only in respect of documents that have been earlier registered in the Sub Registrar Office. The report is prepared by conducting a search in the records of sub registrar for any encumbrance, loan, lien, charge, attachment etc against the property.
The previous ownership documents such as Sale Deed, Agreement to Sell, Perpetual Lease Deed, Conveyance Deed, Will etc is required for checking the title and rights of the seller. It should be ensured that the document had been properly registered and the appropriate Stamp Duty had been paid to the government. The municipal corporation can also be approached for finding out if there are any Property Tax dues. In case of society flats, it should be checked if there are any arrears of society maintenance charges.
If the buyer wants to apply for home loan from a Bank, he will have to ensure that all the papers are complete in all respects, otherwise his application will be rejected. The buyer should get the documentation done through a good real estate lawyer who will help in taking care of all the legal formalities for the transfer of the property.
We provide services for the Verification of Property Related Documents, Title Search, Due Diligence Report in Delhi
For assistance, you may contact us at +91 - 8800418408.
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