Sort by :
Filter by :
- Due Diligence
Checking the legal documents is not so easy.
You have not included the title deeds, which is the spinal chord of due diligence or title tracing.
In my view, if you are not clear about titles and rights of the property, it is better to consult a solicitor.
The solicitor/ lawyer must have good experience and exposure in property law, evidence law, contract law.CommentQuote0Flag
- Title verification
It is always good to get title search and verification done. Since we deal with strangers where so much of hard earned money is involved its much safer than later realizing it wasn't a good buy.
Most of the time we assume by taking loan through banks the title of the property would be searched and we would be in good hands. I have been given to understand from friends that, its not all so good. The bankers see if the property is sale able in case the borrower defaults in future.
I am myself looking for a solicitor/advocate who can do title search for the property I am interested in. Anyone from Mumbai Western Suburbs here who can suggest anyone for this. Please sugges (PM) me.
- Originally Posted by pritamcnaikDo u always have to contact a attorney(advocate) to perform a legal check or is it something that u can also do on your own ? Question applies to Mumbai , Maharashtra in particular and India in general.
I am looking for a procedure to follow and what papers to check . Let us try to discuss the following papers in detail blueprint , CC ,OC , NA order, ULC clearing , CRZ clearing , adivasi land clearance etc . U guys can add more documents that u know that should be checked before u buy a property.
I'm a Delhiite so don't know about Mumbai, but can tell you what papers are checked in Delhi. Docs on your side should be almost similar (i presume).
1. Property title (most imp) -
a. Sale Deed, or,
b. GPA Registered with all rights transferred
c. Property Title transfer deed (in case of Inherited property or Will)
2. Complete chain of property docs right from the beginning, when property was actually sold/transferred by Zamindar or DDA. Docs must maintain the "Khasra Number" and should be same across all the docs.
3. Development Charges receipt from Municipality
4. Water Meter installation charges from Jal Board
5. Completed latest Water and Electricity bills, and, House tax receipt.
These are the most imp docs we consider while buying RE in Delhi.
Hope this helps... :bab (35):CommentQuote0Flag