March 23, 2011

Purchase of Land -- Checklist

To learn about all necessary checks in connection with land transactions read this recommended article, which starts:

Purchase of Land – Legal Checklists

Owning a house is an important thing in one’s life. However, one needs to be careful while buying a property to avoid falling into legal hassles. Before buying a land, a number of checks need to be done to confirm that the land has a clear and marketable title. The legal status of the land is one of the first issues that should be addressed before confirming a property.

Title deeds

The first step is to see the title deed of the land, which you are going to buy.

Confirm whether the land is in the name of the seller and that the full right to sell the land lies with only him and no other person.

It is better to get the original deed examined by a lawyer. This is to check details like whether the seller has permitted any entry/access to others through this land and whether any other fact has been suppressed/left undisclosed by the owner of the land.

Along with the title deed, you can also demand to see the previous deeds of the land available with the seller.

In some cases, more than one person may own the land. So before registering, check if there is more than one owner, and if there is, get release certificate from the other people involved.

The article then goes on to cover the following categories:

Title deeds
Conveyance Deed or Sale Deed
Tax receipt and bills
Encumbrance Certificate
Pledged land
Measuring the land
Purchasing land from NRI landowners
Power Of Attorney
Stamp Duty
Changing the title in Village office

To read the article in full go to this link here.

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