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Legal verification of property documents in India

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Legal verification of property documents in India

December 28
22:26 2021
Legal verification of property documents in India

WHY BUYER NEEDS VERIFICATION OF PROPERTY DOCUMENTS

  • All Government approvals and permissions granted for application made, but not an endorsement of clear title
  • RERA registered properties have a disclaimer that an approval shall not be used as a proof of clear title
  • Similarly, Encumbrance statement of property discloses a number of registered documents only and not indication of clear title.
  • Huge population in the property location does not make the title clear
  • High Demand for property will not clear the title defects
  • Registration of property by government will not change ambiguity in Property Title, if any.
  • Banks and Financial Institutions carry out verification for last 13 years only and before that is uncertain.

That’s why, property document verification is important before applying for bank loan or an agreement of sale.

REAL ESTATE PROPERTIES COVERED UNDER DOCUMENT VERIFICATION:

Open Land or Plot,

Agriculture land,

Farm Plots,

Residential Plot,

Commercial Land

Independent House or Building

Villa, Duplex,

Apartment-Flat,

Godowns,