Have you come across a person who has faced gravely wrong results while buying a house? Do you know a person who has faced a fraud while buying a property? Well, we have heard these things at some point in our lives. A little irresponsibility and hasty decision can lead you to the lifelong of the legal battle with the seller. Property documents are the crucial part of any property investment process. Whether it is an empty plot, an apartment or a bungalow, documents are the only entities that seal the deal.
Here, we are trying to list out the documents you need to consider while buying a property. Let us see them one by one:
A sale deed is a vital legal document that serves as a proof of sale and ownership transfer of the property from the selling party to the buying one. A Sale deed is a mandatory document that needs to be registered. Before the sale deed is executed one must take care of sale agreement and execute it to check the compliance of different terms and conditions as discussed between both the parties. Prior to the sale deed execution, buyer must confirm that the property has clear title. One must also confirm if the property is subject to any charges of the encumbrances.
It is the duty of seller that before executing the sale deed he/she must settle all the statutory payments like property tax, water charges, electricity charges, maintenance and many more.
Mother deed, commonly known as a parent document is a very important legal entity, tracking the actual origin or antecedent ownership of the property right from the start. This document makes the further property sale and establishing the new ownership easy. If the original mother deed is absent, one must obtain the certified copies from the registering authorities. Mother of deeds changes the property ownership, it could be through sale, partition, gift or even inheritance. It is of the utmost importance that the mother deed has the records of the references of the previous owners in the sequence and the list must be constant and unbroken. If there are any missing sequences, one must get them from the registering offices, revenue records or preamble in the rest of the documents. The sequence has to be updated till the latest owner.
Building Approval Plan
A building plan is first sanctioned by the government to verify its legal presence and validation. The one buying a property must pay a vigor attention to this document. The owner needs to submit various documents to get the approval for the building.
Khata certificate or Khata extract:
‘Khata’ means an account, is the one of the property owners. It generally involves (a) Khata Certificate and (b) Khata Extract. A khata certificate is compulsory for the registration and transfer of the new property. Khata extract is nothing but the term used where the property details are obtained from the assessment registrar. One cannot buy and acquire the trade license without the khata extract.
Betterment Charges Receipt
Betterment charges are also popularly known as improvement fees/ development charges that needs to be paid to the government before issuing the account. Nowadays, builders are asked to pay the complete betterment charges to the municipal bodies. The buyer must take the receipt of the same while buying a property.
Sukhwani construction offers you a great spectrum of the luxurious and spacious houses tagged with the loaded amenities. To know and explore more, feel free to call us and we will assist you with all the required queries. You can also visit our site and see our projects the existing one and also the completed one.