News India Live, Digital Desk: Property Documents: Almost everyone of us sees this dream, this dream. For this, years of hard earned money and savings seem. But while making this dream a reality, a little carelessness can make you a victim of great deception, especially when it is about property papers.
It is one of the biggest investments of life, so it is very important that you closely test every legal documents. Taking a decision on half-incomplete information can be very heavy. If you are also planning to buy your dream home, then tie these things so that your hard earned money is safe and you will get peace of mind.
Keep a special look on these documents:
1. RERA Certificate: First step of your safety
Nowadays, before buying any land, flat or built house, make sure whether he is registered with the project RERA (Real Estate Regulation and Development Act, 2016) or not. Ever since this law has come, it is mandatory for every builder to register its under construction project. RERA registration in a way guarantees the safety of your investment and protects you from the fraud or promise of the builder. Therefore, the builder must ask for the RERA Certificate and check its truth.
2. SAIL Agreement (Contract to Sale): Every condition written and written
This document is the foundation for the purchase and sale of property. It has all the important information related to the property-when you will get the possession of the house, what are the terms and conditions of the transaction, which are the common areas (eg parking, parks etc.), what is the complete plan of payment, what is the entire plan, etc. It is mandatory to give the contract of sale or salary while purchasing a property or applying for home loan. Read and understand it carefully.
3. Occupancy Certificate (OC): ‘Green flag’ of living
This certificate is issued by the local government authority (such as the Municipal Corporation) and is one of the most important documents. OC is proof that the building is made according to all government rules and building code and is safe and suitable for living. The builder can give you the legal possession of the house only when he has OC. Do not finalize the process of buying a house without looking at this certificate.
4. Encombrence Certificate: Is there any ‘burden’ on property?
Is there any old loan outstanding on the property you are buying? Or is there any legal lawsuit against him? Or is there any other kind of liability (such as mortgage)? The ‘Encumbrance Certificate’ answers all these questions. This certificate suggests that the title of the property is absolutely clear and is free from any kind of financial or legal mess. (Whether the Property is Dispute-Free or Not)
5. NOC (No Objection Certificate) from Local Authority:
Whenever you buy a house or land, the ‘No Objection Certificate’ (NOC) received from the local authorities related to the builder or seller (such as the Development Authority, Municipal Corporation, Electricity Department, Environment Department etc.). This is evidence that the concerned government departments have no objection to the construction/sale of that project or land. It is also one of the most important papers.
6. Title deed / ownership certificate: Who is the real owner?
This document is proof of who is the real owner of the property and the person who is selling the property to you, does he have the right to sell it legally or not. Usually, the lawyer by doing a complete investigation says that the ownership of the property is clean or there is a screw. This ensures that you are buying property from the right owner itself.
Buying a house is a major achievement, but haste or negligence may be expensive. Check all these documents thoroughly. If needed, do not hesitate to seek the help of a property lawyer or expert. The step taken thoughtfully will make your dream safe and enjoyable.
The Post Property Documents: Dream of Buying Home? Do not move forward without checking these 6 important papers, avoid fraud! First appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
