Verification of Property Documents
Updated and Published on 19 January, 2018Property 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 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 innocent people by selling a property with imperfect and defective title and then disappear once the buyer has paid the money to them. Some people also make fake papers and then sell the property on the basis of such fake documents. 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 Documents.
Importance of Getting the Property Papers checked/verified
Is it really important to get the property papers verified? Why should I bother about it and spend some additional money on it?
You should bother about it because the cases of property frauds have become 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 your hard earned money in the right property. Please go through the following recent news articles to understand the importance of verifying the genuineness of property deeds:
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 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 innocent people by selling a property with imperfect and defective title and then disappear once the buyer has paid the money to them. Some people also make fake papers and then sell the property on the basis of such fake documents. 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 Documents.
Importance of Getting the Property Papers checked/verified
Is it really important to get the property papers verified? Why should I bother about it and spend some additional money on it?
You should bother about it because the cases of property frauds have become 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 your hard earned money in the right property. Please go through the following recent news articles to understand the importance of verifying the genuineness of property deeds:
1. Real estate irregularities: One plot, many owners, courtesy fraudsters (New Indian Express - Aug 01, 2017)
2. One Plot sold to Four different buyers (Indian Express - Mar 19, 2015)
3. Broker held for land deal with fake papers (Times of India - July 15, 2016)
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. One Plot sold to Four different buyers (Indian Express - Mar 19, 2015)
3. Broker held for land deal with fake papers (Times of India - July 15, 2016)
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)
Verification of 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 Government records 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 are 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.
FAQs
Q. In what all situations, do property documents need to be verified?
A. The documents should be verified when a person is entering into an agreement for purchasing the property; when the purchaser is taking a home loan; when the owner is mortgaging the property for obtaining loan against property; when a person is taking a property on a long term lease for commercial purpose etc.
Q. Which all documents should be verified?
A. The following documents should be verified : Sale Deed, Conveyance Deed, Gift Deed, Agreement to Sell, GPA / Power of Attorney, Will, Relinquishment Deed, Partition Deed, Freehold / Mutation details etc.. . . . . . .
Q. Is it worth to get the documents checked/verified?
A. These days, the cost of properties is in several lakhs and crores. Spending a few thousand for verification is a wise decision as it will ensure that you are investing your hard earned money in the right property. Compared to the commissions charged by real estate brokers, the expenses involved in title verification is almost negligible.
Q. Which kinds of frauds may be committed by a seller in a sale transaction?
A. Some common instances of frauds are:
1. Fake / forged documents : The seller may try to sell the property on the basis of documents which are fake / fabricated. Verification of documents will help in avoiding such a transaction.
2. Registration of multiple deeds in respect of the same property : The seller may sell the property to one buyer and after the sale is complete, may try to sell the same property again to a new buyer. Getting the documents verified will prevent such a situation.
3. Property mortgaged with a Bank : The seller may have taken a loan against the property and may try to sell the property without paying back the outstanding loan amount.
Q. How can I get the document verified?
A. To get the property documents verified, call us at 8800418408 and provide us the details / copies of the documents that have to be checked / verified.
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.
How we Helped our Clients - Some examples
1. One of our clients was purchasing a Builder Floor in Vasant Vihar. She wanted to check the property documents before purchasing the property and contacted us for the same. We thoroughly checked all the relevant documents and discovered that the property had been mortgaged by the seller with a bank with an outstanding Loan of over 2.5 crores and this fact had been concealed by the seller.
2. One of our clients was purchasing a property in South Extension and approached us for verification of documents. During the verification process, we discovered that the Title documents of the seller were defective as they were not stamped and registered in the registrar office. We informed the client and accordingly the client insisted on the seller to remove the defect in the documents.
3. One of our clients was purchasing a property in Greater Kailash and approached us to get the property documents verified. On checking the documents, we found that there were Property Tax dues of more than 4 lakhs against the property. Our client then asked the seller to first pay off and clear the Property Tax arrears before proceeding with the transaction.
4. One of our clients was purchasing a property in Dwarka and Vasant Kunj areas and contacted us for title search and document verification. On scrutiny of the documents, we found that some of the documents produced by the seller were forged and fabricated. We infomed the client and saved him from being cheated by the seller.
5. One of our NRI client was purchasing a property in Defence Colony and contacted us for Property Verification. On verifying the property papers, we found that besides the seller, his family members also had a share in the property which the seller had not disclosed to the buyer. Our client asked the seller to get a Relinquishment Deed from the other family members before proceeding with the transaction and making the payment.
1. One of our clients was purchasing a Builder Floor in Vasant Vihar. She wanted to check the property documents before purchasing the property and contacted us for the same. We thoroughly checked all the relevant documents and discovered that the property had been mortgaged by the seller with a bank with an outstanding Loan of over 2.5 crores and this fact had been concealed by the seller.
2. One of our clients was purchasing a property in South Extension and approached us for verification of documents. During the verification process, we discovered that the Title documents of the seller were defective as they were not stamped and registered in the registrar office. We informed the client and accordingly the client insisted on the seller to remove the defect in the documents.
3. One of our clients was purchasing a property in Greater Kailash and approached us to get the property documents verified. On checking the documents, we found that there were Property Tax dues of more than 4 lakhs against the property. Our client then asked the seller to first pay off and clear the Property Tax arrears before proceeding with the transaction.
4. One of our clients was purchasing a property in Dwarka and Vasant Kunj areas and contacted us for title search and document verification. On scrutiny of the documents, we found that some of the documents produced by the seller were forged and fabricated. We infomed the client and saved him from being cheated by the seller.
5. One of our NRI client was purchasing a property in Defence Colony and contacted us for Property Verification. On verifying the property papers, we found that besides the seller, his family members also had a share in the property which the seller had not disclosed to the buyer. Our client asked the seller to get a Relinquishment Deed from the other family members before proceeding with the transaction and making the payment.
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Disclaimer: The information contained in this website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. The use of this web site, and the sending or receipt of information does not create an attorney-client relationship. By using this website you agree that there has been no advertisement, solicitation, invitation or inducement of any sort whatsoever from us to solicit any work through this website.
Disclaimer: The information contained in this website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. The use of this web site, and the sending or receipt of information does not create an attorney-client relationship. By using this website you agree that there has been no advertisement, solicitation, invitation or inducement of any sort whatsoever from us to solicit any work through this website.
