LEGAL VERIFICATION OF THE PROPERTY

Many home-loan providers assist in the Legal verification of the property. It is best to seek their guidance because as experts, they know the nitty quitty involved.

IS YOUR PROPERTY TITLE IS CLEAR AND FREE OF DISPUTE

Buying a home of our own is not only a cherished dream for most of us, but also one of the most important financial investments that we will ever make. As it involves large amount of money too, it is important to safeguard ourselves from undesirable outcome. one of the key cheeks we need to make is whether the property title is cl;ear and free of dispute.

THE IMPORTANT OF LEGAL CLEARANCE

The legal clearance of a property refers the verification of the ownership and title of the property and assurance that you are protected from future problems.

PROCESS AND DOCUMENTATION

After you have selected your property, have the property documents checked by an Advocate to ascertain whether the land and developer-related documents are in place. check whether the developer has the required approvals such as ownership rights, developments rights,etc.

Title Documents need to verify are:-
* The Sale Deed/Lease Deed/Development agreements of the building/society
* The latest7/12 extract, a document which establish has ownership of land
* checking agreements, establishing transfer and ownership up to the current builder/seller.
* The title report for the property under construction
* The power of Attorney from the landowner
* whether the developer agreement is executed.

In Case of resale in a registered society ensure that you check the society rules regarding sales of property, renting,mmaintenance charges, vehicle-parking space charges and other amenities.
Check whether your short-listed property has been approved by the Home-Loan provider you are considering