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PROPERTY VERIFICATION

WHAT IS PROPERTY VERIFICATION?

Whenever someone wants to shop for a property or take a home equity credit or mortgaging property against a loan or taking property on

lease for future, it's necessary for them to see out all the documents associated with the property before making a choice to shop for in
order that in future the owner doesn’t get into legal trouble due to improper documents.


We at Legaine have experts specifically dedicated for the aim of verification of property documents and may provide best consultation about the method. Property check has never been easier.

OUR SERVICES :

Our experienced professionals will draft whichever document you need, tailored to your business requirements. We offer every client  a free consultation call to

thoroughly discuss their requirements and clarify any doubts they may have after which a customized document is drafted, according to every client’s specific needs.

Let us draft Property Verification for you, personalized and customized according to your specific needs.

BENEFITS OF PROPERTY VERIFICATION

01

Assurance that property involved in transaction is free from litigations

04

Avoiding a transaction if fake or forged documents are presented

02

Easier to require loans against property after verification

05

The vendor might attempt to sell an equivalent property multiple times and fraud people which may be avoided through property verification online.

03

Assurance that seller has right

to sell the property

DOCUMENTS REQUIRED

1. Check for The Title Papers:

A property should have a clear title, without any dispute. If buying a replacement property, the title of the land should be with the development company. If buying a resale one, study the papers wisely or visit the property lawyer to see the authenticity of papers.


2. Ask for Bank Approvals:

If you are getting your home financed from the bank, your half work is already done. Before approving your loan, banks evaluate the property. For an apartment project, several banks offer on-site offers which clearly indicates that the property is legally verified and have all approvals in situ. But, do check the clauses before signing the loan agreement with the bank.


3. Encumbrance Certificate:

An encumbrance certificate is a document which implies a property is legally free from any mortgage or pending loan. It also lists the name of the previous owner of the property. This is a very important document when buying a resale property to know whether the previous owner had mortgaged the property and if all the dues have been paid.

​

4. Tally the Approved Plan with Actual Site:

If you are buying in apartment project, make sure you get to see the copy of the approved map from the builder which is passed by the local authority. This can give you the fair idea about the area and the construction spree if it illegally encroaches.


5. Check Out Property Tax Slips: 

If buying a resale property, ask for property tax slips from the previous owner. This will offer you an insight on two factors ― whether the colony or the world you're buying in is regularised or illegal and if the property is duly registered and there are not any dues pending with the municipal authority.


6. Project Has A Registered Society:

Every apartment project should have a registered society along with a resident welfare association. This is itself a legal process and gives a thought about the legality of the project and therefore the property you're buying.

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