InvestorQ : Should I check the title deeds and what else do I need to check? Also, will the bank or the legal adviser does the checking of deeds for me?
Nisha Chandani made post

Should I check the title deeds and what else do I need to check? Also, will the bank or the legal adviser does the checking of deeds for me?

Answer
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Bhavika Nehru answered.
1 year ago


This is the most important step. Ensure that the title deeds of the builder/seller are clear. You can check these link documents at the office of the sub-registrar. Ensure that there is no encumbrance, pending legal case, property dispute or lien on the property. A lawyer can help you check these items for a nominal fee. Remember, your financing bank will do all these checks but it is always safer that you also get these checks done independently. Any deficiency can lead to problems when you try to sell the property later. Also once you make the initial payment ensure to get the allotment letter if it is a builder and an “Agreement of Sale” if you are buying an existing property. Your purchase of property will be completed only after the sale deed is executed and registered with the registrar. Normally, this sale deed will have to be hypothecated with your financier and you can keep a photocopy of that. The registrar is able to provide the history of the property so you can check if it is disputed property or not. There are cases like Mulki property in Hyderabad or Waqf property in other places that are disputed. You should take care of these matters before signing the cheque.