These days, it is really tough to identify a property without any dispute. Here are the 5 main legalities to watch out for while buying properties in Mysore.
1. Title of the seller
Title of the property shows all the basic information you need to know about the rights of the seller over the property. So be sure to check every word in the title of the seller.
2. Identification of the seller
The seller might be one or more person, an organisation, a minor, a trust or so on. As a buyer, you should be clear of the identity of the seller.
3. Approval certificates
The buyer should know the details of the property and also verify that the seller has the authority to sell the property. For this the following certificates are to be checked.
- Approval certificate from Government to transform an agricultural land to non–agricultural form or to use a land for a purpose that varies from the particular area.
- Before booking a flat or building, the buyer should check for legal approval certificate of the building plan from related Authorities.
- Occupancy certificate is necessary for any building. In case there is no occupancy certificate, the buyer might be under risk of legal actions.
- Records on tax payment should be checked. If the seller has not paid the tax for the property, it will obviously affect the marketability of the property.
- Check if the property is registered under Real Estate Regulation and Development Act (RERA). RERA provides the details of any legal disputes on the property.
4. Encumbrance
The buyer should check out for any legal issues on the property. Encumbrance certificate of the property shows a clear record on the legal disputes over the property for a particular period of time. Always ask for the latest encumbrance certificate.
5. Measure the area
In case of buying a land, it is essential to measure the land and check if it is as in the document. Also know the boundaries of the property to avoid any confusion after buying the land.
Thus, one should have a detailed study on each and every document of the property before registration. Rai Estate is a trustworthy property developer, dealing with properties in Mysore. Contact them if you are looking for properties in Mysore for sale.
