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What is Property Verification
Whenever someone wants to buy a property or take a home loan or mortgaging property against a loan or taking property on lease for long term, it is necessary for them to check out all the documents related to the property before making a decision to buy so that in future the owner doesn’t get into legal trouble because of improper documents.
We at LegalDocs have experts specifically dedicated for the purpose of verification of property documents and can provide best consultation about the process. Property check has never been easier.
Process for Property document verification
Application: Fill form on LegalDocs website to provide basic information,
Submit Documents related to property mentioned below on the page
Scrutiny and Approval : Reply to queries raised by office and get approval from legaldocs experts on property verification.
Documents required For Property Verification
|Sale Deed||Agreement to Sale||Will|
|Power of Attorney||Relinquishment Deed||Partition Deed|
Chain Of Documents
- Property title:
Property title shows the current ownership of the property and it is present in the records at sub registrar’s office.
- Mortgage documents:
If there are any mortgages on the property then the documents related to it must be verified and buyer must be willing to buy it along with mortgages or mortgage must be paid by the seller.
- Encumbrance certificate:
It is a certificate issued when the property is free from encumbrances like liens,mortgages,property tax etc.
- Sanctioned plan and built up area:
Sanctioned plan is something that has been sanctioned by the government and built up area is something where actual construction on property has taken place.If there is difference in these two, it might create trouble.
- Property Tax Receipts:
These are the receipts proving that the seller has been paying tax on the property to the government on regular basis.
- Khata Extract/Khata Certificate
Other documents according to type of property and state requirements and case to case basis.
Benefits of Property Verification
- Assurance that property involved in transaction is free from litigations
- Easier to take loans against property after verification
- Assurance that seller has right to sell the property
- Avoiding a transaction if fake or forged documents are presented
- The seller might try to sell the same property multiple times and fraud people which can be avoided through property verification online.