Why Is Property Verification by a Lawyer Important Before Buying Property in India?
Buying a house or property is one of the biggest financial decisions that a person/family will ever make. You save up for years, and finally buy that dream house. But after a few years, the same house turns out to be a liability. Just because you didn’t confirm the title documents, land records, approvals, prior disputes etc. before paying for it.
While buying property in India, people take into consideration only the area, the budget of the property, or the construction quality. But do you ever ask yourself – Is it legally safe to buy this property?
Property pre verification before buying in India enables the buyer to know whether the seller has clear title to the property. Are the documents legally valid? Is there any legal issue involved which may affect your ownership later in future?
Property Verification is necessary whether it’s an apartment in Delhi NCR or a commercial property in Noida, Greater Noida, Ghaziabad, Gurugram or any other city. Doing comprehensive property due diligence has become essential for every risk free property transaction.
A buyer expects more than just documents verification. They look for professional legal advisory which can let them know the risk associated before they put their money on it.
Why Is Property Verification Before Buying Property Important in India?
Property due diligence refers to the process of legally validating the property documents, title, approvals and other information before a property is purchased. Oftentimes a property may look great from outside but have title issues such as unclear ownership, pending litigation cases against the property, construction without permission, multiple claims on property, forged property documents and many such transfer restrictions. Doing your property due diligence research will enable you to make an informed decision. We conduct a thorough property due diligence and our property lawyers assess the legal risk involved and let you decide before the situation gets out of hands. Majority of property disputes occur after the buyer has received the property and tries to verify the documents. By the time dispute is realized, it's usually too late to change things.
What Problems Can Buyers Face Without Proper Property Verification?
Is it possible for a buyer to lose out even after registering a property?
Yes. Registration of sale deed does not ensure that all legal issues surrounding a property are extinguished.
Common issues faced by buyers are:-
- Claims by other owners
- Fraudulent/incomplete set of documents
- Hidden loans/charges against the property
- Defects in property’s title
- Missing statutory approvals
- Discrepancies in Builder–related documents
- Claims of litigation over title
The buyer may end up facing years of legal hassles which can be found with comprehensive legal due diligence prior to purchase.
Quick Facts About Property Verification in India
- Title verification ensures that the property is legally owned by the seller and has no legal issues before sale/purchase.
- Sale deed of the property may not provide complete information of its past transactions.
- Title history allows you to see if there could be any title related risks with the property.
- Due diligence applies to home as well as office purchases.
- Documents may vary for different type of properties or geographical location of the property.
- Conduct a title search for your sellers to see what risk they're at.
What Documents Should Be Checked Before Buying Property?
Ever wondered about Documents requiring Legal Verification prior to purchasing a property?
Documents for verification normally include Title, Transfers, Possession and Approvals related Documents.
Some of the essential ones include:-
- Copy of previous sale deed/ Title documents which establish the title of seller.
- Documents that establishes clear title (Title documents)
- Mutation and revenue documents
- Documents free of Encumbrances
- Approved building plan/by local authority
- Occupancy or completion certificate
- Property Tax Receipts
- Various permissions and certificates obtained from relevant authorities
List may slightly vary if the property under consideration is independent house, apartment, commercial unit or agricultural land.
How Can a Property Lawyer Help Before Property Purchase?
Should Buyers get a Property Lawyer before Closing a Deal?
A lawyer would never become Property Lawyers if they were limited to reading docs. The property lawyer guides the buyer through the legal standpoint of the property they plan on buying. He aids you to locate those worries that you yourself might not notice being a layman.
How Legal Assistance Can Help You:-
- Verify Title History
- Examining the chain of title
- Find loopholes in documents
- Pin point legal implications
- Spotting transaction related glitches
- Give you peace of mind that all legal due diligence has been checked before you invest your money
Property Lawyer Delhi provides legal assistance for buyers who are looking for legal support regarding property deals and document verification.
Why Do Buyers Need Legal Guidance in Delhi NCR Property Transactions?
Are property purchases a legal maze in Delhi NCR?
There are multitude of properties available in Delhi NCR be it residential societies, builder floors, commercial projects or plotted projects. You will encounter different set of documents, authorities and laws with each one.
Why buyers in Delhi NCR (Delhi, Noida, Greater Noida, Ghaziabad, Gurugram and surrounding regions) need someone to check their documents? Since property transactions are huge financial investments. One tiny error in documentation can lead to ownership hassle for years to come.
Why Choose Advocate BK Singh for Property Verification?
Why retain a lawyer before buying a property?
Advocate BK Singh guides clients through their property transactions related legal queries by way of review of their paperwork, practical advice and a client oriented service. Buying a property is an investment decision that you make only after you are clear about certain aspects. At BK Singh, we guide our buyers about the various risks involved, documents you should ask for and verify and legal aspects related to the property you intend to buy.
Rather than just doing the paperwork for you we want you to be sure about your decision.
When Should You Contact a Property Lawyer Before Buying Property?
Why retain a lawyer AFTER you’ve signed an agreement?
Why wait until there’s a problem? Often your options may be limited once you’ve signed an agreement. Here are some situations where purchasers commonly retain a lawyer BEFORE:
- Making a large deposit/payment upfront
- Signing a property agreement
- Purchasing resale/consumer property
- Purchasing builder home(s)
- Investing in commercial real estate
- Signing “the final documents”
Frequently Asked Questions
Should I get property verified before buying?
It is recommended that property buyers carry out property verification before buying a house. This will help them get clarity on who owns the property, check the validity of the documents and become aware of any legal disputes related to the property.
Can we check whether the property title is clear by hiring a lawyer?
A lawyer can review the ownership documents and other relevant papers available for a property to understand if there could be potential title issues with the property. The outcome would vary based on the documents provided for each property.
What does verification of a property entail?
Verification of a property includes going through the ownership documents, history of transfer, approvals and other relevant documents related to the property.
Should we hire a lawyer before finalising a property deal?
Definitely. Buyers should have all agreements reviewed by a lawyer before signing them to understand the important terms, conditions and spot issues, if any. This would help them negotiate or get issues clarified before entering into a legal agreement.
Does registration of property prove ownership?
Registration transfers ownership of property into the name of the buyer. We recommend that property buyers also check title history and associated documents to ensure clarity before buying.
Can I get assistance for verification of property documents in Delhi NCR?
Yes. We assist buyers in getting property documents in Delhi NCR verified and provide them a legal evaluation for properties offered for sale.
Why should buyers get legal consultation for resale property deals?
Properties sold by owners other than the original builder/seller might have past ownership history and could potentially have pending issues or defects with documents. Buyers should get such documents verified by a lawyer to be made aware of these issues before proceeding with the purchase.
How can Advocate BK Singh help you?
Advocate BK Singh can assist property buyers by reviewing property documents for legal issues and guiding them about risks before they proceed with buying the property.
Conclusion
Buying property is one of the biggest financial decisions that you make. Proper legal due diligence at the time of buying property will help you stay clear of future unexpected property disputes and documentation problems. Approaching a professional also ensures that you get complete transparency about the title, all the associated documents and if there are any risks involved. If you are planning to buy property in Delhi NCR or anywhere else in India, get in touch with Advocate BK Singh before taking any forward steps and make an informed decision.
