Ours is a fast world, we need everything quickly, be it selection for our dream house or purchasing. But, sometimes quick decisions end up into long legal battles for home buyers.
Our Dream house is everything. We plan for it, save for it and invest on it. After such a long wait, the day finally comes, when the house will be really yours, it gets impossible to bite each second in the clock. In such situation who have the time for getting involved in packs of documentations. But, few seconds can save you with future legal battles.
So here is a little suggestion for all buyers – Patience is the key to paradise!
We enlisted few major property documents you should never miss before purchasing any property:
Sale Deed – Sale Deed acts as a registered proof for the property sale and the ownership transfer from the seller to the purchaser.
Mother Deed – Mother Deed or the parent document is a legal paper of huge importance. It includes information regarding the origin ownership of the property from the very start. Be it any sale, partition, gift or inheritance, mother deed keeps a track of all ownerships till date.
Commencement Certificate (For under construction property) – Commencement Certificate is issued from the local authorities post investigating the site. This document will certify that the project to be constructed meets the given criteria and will permit further construction.
Power of Attorney (POA) – This document is utilized for transferring authorizations to the buyer by the property owner. It can be either a Special Power of Attorney (SPA) or a General Power of Attorney (GPA) in order to transfer the owner’s rights over his/her property.
Current tax paid receipt – These are the receipts for property tax bills which are a proof that the taxes have been paid for the property till date. The Buyer should ask for the receipts to make sure that all the dues are cleared by the seller.
Completion Certificate (for a constructed property) – This Certificate is provided by the municipal authorities stating that the building is in consent with the set rules and is created as per the approved plan.
Occupancy Certificate (for a constructed property) – This certification is to be obtained by the builder after an investigation done by the authorities in order to make sure that the property meets all the set rules before sale.
There are more documents to watch for in property purchase. Contact our legal experts for more information today at multiflats.com – Where stress is divided and your happiness is multiplied!