what are the precaution buyers to take before buying a residential unit
C.A Alok Mukherjee
(Querist) 10 June 2011
This query is : Resolved
what are the precaution buyers to take before buying a residential unit?
How a buyer can search the test that a property is free from encumbrance? It might happen a seller sold a property to a buyer but that property is already mortgaged to the bank or somebody. How a buyer (individual) can ensure that the property is free from all charge?
Whether before making a payment to the seller is it worth to take voter id & pan as kyc for the seller? Is it necessary?
I had heard that searching of property help out whether it is in the name of owner or some other person.
Jitendar Kumar gupta
(Expert) 10 June 2011
Before buying the property you have to very cautious and consult a experienced property expert or advocate for the property.
prabhakar singh
(Expert) 10 June 2011
First Trace the source of title of your vendor?
If he says by inheritance ask him to provide you pedigree and record of right mutation papers,and if he says by purchase then ask for original sale deed.
Visit Registration Office of area where property situate and inspect the records of registration with respect to property you propose to buy for over a period of thirty years and also apply for non encumbrance,however registrar may delay,your inspection will reveal about property if it is charged or not,better engage a lawyer for this act and ask him to furnish a report that on his 30years record inspection ,he has found,no charge on the property.
"K.Y.C."is always desirable ,you are thinking in right direction,it is a safeguard against any IMPERSONATION,should also get checked if I.D.itself is not fake or fabricated.
Devajyoti Barman
(Expert) 11 June 2011
Yes original title deed must have to be obtained as it is usually only proof against mortgage of the property.
Apart from that proper title search in the concerned Registry offices and the courts of law need to be done.
Do take help of an expert.
