Prevention is better than cure is a good health-care concept that has been widely accepted. I would borrow the concept and would like my friends to consider for acceptance in legal matters too. Here are some important tips:
1. Ask for certified copies of the original title deed and three prior title deeds from the owner of the land.2. Ask for an authenticated sketch of the land having clear demarcation of boundaries.
3. Ask for non-encumbrance certificate of the land for the past 31 years (This is so, as the limitation period for the recovery of any debt due to the Government as land revenue is 30 years).
4. Ask for certified copy of the agreement between the owner of the land and the builder/developer.
5. Ask for certified copy of the building permission from the competent authority along with approved sketch and plan of the building.
6. Ask for the land revenue tax receipts.
7. Ask for completion and fitness certificate issued by competent engineer/authority.
7. Ask for the copy of the agreement the vendor wants you to execute and read the terms and conditions carefully.
8. Verify the descriptions such as the "plinth area"/"carpet area" of the built up space and the common area earmarked for all occupants and compare them with your particular requirements/necessity. Verify whether you have to pay additional sum for car/scooter parking facilities.
9. Verify whether the very same land/property is already under a mortgage to any financial institution/bank or offered as a security for any financial arrangement by owner/builder.
10. Verify the construction of the building has been done in compliance with all regulatory specifications and safety standards.
11. Make sure that the agreement contains that not only the building portion but also the undivided share of interest in the property is also conveyed to the buyer.
Contributed by: asharaj53 @ gmail.comYou may also like to read –
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