The Various Key Documents To Check Before Purchasing A New Property

new property

Home seekers invest their hard earned money in a new property with the hope of securing the home of their dream. Just when you think you have got an excellent deal on an apartment, you realize that there remain new obstacles to turning it into what you originally desired. Instead spending considerable amount of time wondering what went wrong it is time to delve into the root of the problem. Often times buyers are found guilty of spending very little going through the property documents. The logical consequence of such carelessness inevitably leads to a host of legal complications. The last thing you need as a buyer is to embroil yourself in a long standing legal battle with the seller.

Importance of securing the Sale Deed

Property Sale Deed
Sale deed essentially marks the transfer of land ownership from the seller to the buyer. It is absolutely vital that the buyer gets the sale deed registered. Prior to settling for the sale deed a buyer is advised to check whether the sale agreement in strict compliance with various terms and conditions. This is part of the reason why buyers are supposed to ensure that their newly bought property carry a clear titles. By securing the sale deed buyer and seller will finally be able to settle all types of differences that may arise between them. Sale deed also means that a buyer and seller are also agreeing to various types of charges that may incur in time.

The usefulness of obtaining a Mother Deed document

paul alukkas developers mother deed
Known as the parent document, Mother Deed is valid document that can be used for tracing the ownership details of the property. Document is central to facilitating the further selling of the property. It will become a valid proof of ownership for the new buyer. Mother Deed will serve as the document that will attest to the transfer or change in the ownership of a property. Whether it is the sales, inheritance or partitioning of your property, you will need this as a document of proof. It is one of those documents that will document every little detail about the succession of ownership.

Getting the right Encumbrance for property

paul alukkas developers _encumbrance
An encumbrance gives you insights into the whole range of registered transactions that take place during the period when EC is in effect. Acquisition of encumbrance certificate enables you to have relevant information about the status of your property ownership. Applicant of Encumbrance document is expected to obtain form 22 and have it submitted at the sub-registrar’s office. Among the details to be listed on the document are property survey number, residential address and property description. The applicant of the certificate will be charged minimal amount on an annual basis. It may take around three to seven working days for you to obtain Encumbrance certificate.

Significance of acquiring an Occupancy Certificate

paul alukkas developers_occupancy certificate
When you search for builders in Cochin you have to make sure that you the specific builder have earned the occupancy certificate. This certificate attests to a builder’s compliance with building rules during the construction of a residence. The builder, if eligible, will be able to receive the certificate after the completion of the construction. The document basically certifies that a newly constructed building is ready to be occupied or purchased.

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