Friday, January 22, 2021

Review Property Papers

It is recommended to review property documents prior to purchase of landed property, if it is an empty plot or a fully furnished apartment. Property documents include –

First important is Sale Deed, including link deed /mother Deed, which is the legal document as proof of transfer of ownership of the property, and is mandatorily to be registered. Before purchasing the property, the buyer must have to verify the title and ownership of the vendor. There should be continuous and unbroken title over the property, which may be through sale, partition, gift or by inheritance. Updated Lagan Receipt is also the important part thereof.

Second is Building approval plan, which is finally approved by the Town Planning Development Authority. Construction of the building is said to be illegal in absence of Approved House Building Plan.

Third important is Conversion Certificate from Agricultural to residential land. Conversion Certificate is required to be obtained from the competent revenue authority, to change the use of the land from agricultural to non-agricultural purpose.

Fourth is reviewing Khata Extract/ Khatiyan, i.e. an account of a person having ownership of property at the time of preparation of Survey Settlement Records. Recording of Name of the present owner of the property in register II, at the website of State Govt. Registration Department is also mandatory.

Fifth is Encumbrance Certificate, means charges or liabilities created on a property against mortgage of property. 

Sixth is Power of Attorney executed by the landowner authorizing to execute, present and sign the sale deed to transfer one’s rights over the property.

Finally, Completion Certificate (for a constructed property) issued by the authorities that the building is constructed as per the approved House Building Map. 

It is very important to view the title documents by the Competent Lawyer.

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