value of certified copy of sale deed
Querist :
Anonymous
(Querist) 18 September 2010
This query is : Resolved
If original sale deed is lost and certified true copy is obtained from sub-registrar, what is the legal value of the copy? Does absence of original weaken owner's title although court and Revenue Dept. is otherwise satisfied of owner's authentic title.
I heard that selling price of property is lower if original deed is missing because buyers are suspicious but why if the certified copy shows owner's clean title?
s.subramanian
(Expert) 18 September 2010
It is as valid as the original sale deed itself. You can make a paper publication about the loss of the original and lodge a complaint with the police also about it. Then if the original is not traceable,you can make use of the registration/certified copy of the same. It will not have any sort of impact upon the value of the property,anyway.
Sri Vijayan.A
(Expert) 18 September 2010
1. The value of the certified copy obtained from the registering authority is, said to be more valuer, bcoz it confirms the transaction and the registration.
2. However in the eyes of the prospective buyer, there is a charge/ lien over the property by somebody
3.Since encumbrance alone shall reflect in the EC. The charge/ lien are need not to be registered (Optional).
4. So it is difficult to make the buyer to believe that the original deeds are really lost and not given as security.
5. As such, in the real market, the property without original deeds has lower value
Devajyoti Barman
(Expert) 18 September 2010
Though it is valid proof of title but the predicament is in many cases it is found that the owner has obtained loan by keeping the original title deed deposited with the bank thereby creating a charge in the property.
Querist :
Anonymous
(Querist) 18 September 2010
Thanks you all.
What if original owner died and deed was actually lost then son gets heir certificate. Will son get new deed or what and how does he obtain any kind of original document in his name to prove his title to future buyers but also to protect it from encroachers.
Also, if multiple heirs are present how can they relinquish their interest in favour of only one of them (for example if widow and other children wish only one of the heirs to be formal owner and their own names struck from record of inheritance or ownership). They wish to give consent but how is it to be recorded and how may the single successor who emerges affirm his newly inherited title in an original document so that future buyers do not panic. Nothing illegal is being done here, just that original deed was in fact lost due to relocation of family immediately following original owner (father's death). All dues were paid to the developer company by father during his life and company acknowledges it. This was for direct purchase of plot and construction of house by developer company. It is a major national company, so no shady small time developer, and no bank loan was taken but installments were paid to this company buy original buyer (deceased). On financial grounds, property title is clean but new single heir needs some original document (i.e. original document showing pure title of new owner through inheritance) solely in his name. How to obtain it?
Surrender K Singal
(Expert) 19 September 2010
Relinquishment Deed detailing all the particulars of original allotment / developement / construction and original registration of title in the name of deceased father and then the legal heirs who now vountarily relinquish their inheritance rights in favour of one and let this be registered and such original relinquishment deed together with certified title deed of the property would be able to fetch near original value from the propective buyer; Have faith in AlMighty;
