DEVAN LAW ASSOCIATES

LEGAL OPINION ON PROPERTY

There are a lot of documents related to buying a home nowadays. Thus, buyers have to start being more careful. Because, more the papers, more the chances of being a fraud. There are sale deeds, mother deeds, electricity bills, tax receipts, and other things that you, as a buyer, need to check before buying immovable property.

To make sure that the documents are real and you have every important document you need before buying the house, you may like to have a legal opinion on the property before buying one. Here in this article, we will describe a few points on why you should hire an advocate to get the best property legal opinion before opting for a property buy.

DEVAN LAW ASSOCIATES

Reasons for Why Should Have a Legal Opinion on the Property

  • Safeguard to the buyer’s interest: Even though the legal opinion comes at a cost, it has been proven that the legal opinion on the property is beneficiary to the buyer’s interest. The legal opinion is meant to favor the buyer’s interest. These legal opinions can tell the buyer if the buyer is a worthy one or not. A good lawyer can provide the buyer with the best details of the paperwork. A competent lawyer also saves the buyer from future tangles that comes with the property investment. Hiring a property lawyer can save you the minutes from the property buying norms. So hiring a property lawyer can safeguard your interest as a buyer.
  • Assists in the documentation of property paperwork: A competent property lawyer can also assist his hirer with the documentation of the property paperwork. A competent lawyer will provide you with clean property paperwork. These property lawyers will ensure clean paperwork right from the start till the finish. These lawyers will ensure all the necessary documents for you, such as the mother deed, sale deed, and other papers, are ready for you. These lawyers provide you with the best service if you hire a competent property lawyer.
  • Provides transparency in property buying: Property lawyers have all the property documents, and they also cross-check them properly to maintain the transparency in the agreement. These property lawyers keep the paperwork clean and transparent for the seller as well as keeping the buyer’s interest in mind. It is very important to get the buying agreement right, and that is what these property lawyers do. These lawyers will also check if the seller has any suppressed facts about the property of his ownership.
  • Ensuring all the approvals in place: A very large number of home or property buyers are unaware of the fact if the property has all the civic approvals in place. A property lawyer will surely help you with the civic approvals you need to check before buying a property. The building plan approvals, the floor plan approvals, The NOC certificate by the authority, the structural safety certificate, the environment clearance are the other documents that we mostly neglect. But a property lawyer will check for all of these documents to make sure you don’t face any problems while living in the property.
  • Legal assistance will also help you to buy a joint property: While buying a joint property or an older property, you should opt for a property lawyer first. Legal assistance is very much required when you are buying a joint property or an older property because You need NOC from all the owners, the joint development terms and agreements and some other things. Your lawyer will also go further to find out if the land is already under acquisition for future uses of the government.
DEVAN LAW ASSOCIATES

7 Must Require Legal Documents While Buying Property

Every Indian dreams of buying a property for himself and his family. You must have seen your parents and grandparents spend half of their lives in finding ways to get their own house, you call it home. Whenever you talk to them, they also try to make your mind about buying a house. This is because most of the Indian people believe that it is the ultimate investment of life and the best way to get a secured future.

This thought flows through genes in India. And thus, every young people in this country is mentally conditioned for working hard from the beginning of their career, earn lots of money and quickly become eligible for buying their own house. While some of them find investing in real estate a very good investment idea. However, everyone has separate reasons to invest in property buying and besides that, it is also important to keep themselves away from the legal conundrums, which is important to save their hard-earned money as well as not to lose their dreams of buying a property in India.

DEVAN LAW ASSOCIATES

7 legal papers of which you must be aware of –

  • Ownership proof: It is important for you to ensure that the home you are going to purchase is on the land that has the ownership of the developer. The developer should have the favor of sale deed or there must be a MoU (memorandum of understanding) between the original owner of the land and him.
  • Non-encumbrance certificate: A non-encumbrance certificate is required to understand the actual history of the property for the last 12-30 years. This tenure includes every detail of ownership transfers through this period. Through this certificate, you are also eligible to understand if it is free from all sorts of taxes or not. If you are going to apply for a loan, the bank will demand this document.
  • Copy of the relative order (agricultural land): Normally it happens that the mega projects or townships grow on such types of lands which were previously defined as agricultural lands. In such a scenario, the pattern of using the land must have changed in the records of the government. It is often noticed that a few developers start the construction after getting some converted land while the permission remains due for the rest of the land. If this is the situation, the fate of your home will remain hanged! So, you must be sure that your home is getting constructed on a residential plot.
  • Copy of the approval and permission of the appropriate authority: Often it happens that the developers built x+y number of flats with the permission of making x number of flats. Hence, it is important for you to check if you are getting an authorized floor or not, otherwise, there will always remain a threat of demolition by the government.
  • Certification of tax paid receipts and property location sketch by revenue authorities: These documents are required to check if they have an entry in the government records or not. Such bills and tax receipts also help you to be aware of if all the dues are paid or not.
  • Commencement certificate: It is required for the under-construction properties and allows the developers to start construction with all the duly obtained permissions.
  • Agreement of sale: It includes all the major points required to know by the buyer including penalty clause, possession date, arbitration clause, force and jurisdiction Majeure, etc.