Last Updated on August 25, 2018 by Legalseva.net
Before buying any property in Chandigarh Panchkula Mohali Kharar Zirakpur Derabassi Mullanpur Garibdas, the most important step is that of a verifying Title Search of the Property.
The questions to be answered are:
Also Read- CHECKLIST FOR BUYING PROPERTY IN CHANDIGARH PANCHKULA MOHALI ZIRAKPUR DERABASSI KHARAR BADDI
1 Whether the seller holds the ownership in revenue records?
2 How the property has been transferred to his name?
3 Is there any loan, mortgage or lien on the property?
4 Co-owners or share in property?
5 Any pending Court case if any ?
6 Any land arrears to be paid to government especially property tax and Noc from the society owner association? Without their consent property can’t be sold?
7 Whether the property is notified or denotofied for acquisition by State Government?
8 Check the ownership of seller qua specific Khasra/khatauni numbers whether he really own it or not?
9 The latest Jamabandi plus 30/13 years past land records to be inspected?
10 The last would be personal visit to see the property whether it is demarcated or divided? Lest should be in the physical possession of the seller.
Also Read- PROPERTY TRANSFER IN CHANDIGARH PANCHKULA MOHALI ZIRAKPUR
And in the end you get peace of mind after getting answer to all the above questions.
For getting due diligence on the property, you can appoint a lawyer or an advocate who verify and do the title search of the property but for a fee suitable to both and it is definitely worth it.
It’s not like everyday we deal in property matters but when we do, we should take care of the intricacies of property buying and selling in India.
Also Read- PAY PROPERTY TAX IN ZIRAKPUR
A property with clear title and minimum dispute is what one vouch for but you have to watchful of the surroundings as well.
The seller should be the one who is owner in possession. The lawyer/advocate appointed can submit his comments on the neighbours and how the property is being used currently.
Fee for a title Search can be anywhere from Rs 3500 to Rs 5000 depending upon the kind of report you are seeking. The government fee is excluded in this.
Also Read- UNREGISTERED PROJECTS IN RERA PUNJAB AND HARYANA AT PANCHKULA
Title Search Report will be provided to you after the payment of fee and getting due diligence on the property in a set format accepted by all financial institutions. The due diligence report and title search report is one and the same thing and will be provided by property matters expert legal advisor.
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