Owning a property is a long-term dream of many people. It is one of the crucial decisions in everyone’s life, which involves a lot of investment. Be it a plot or a fully furnished apartment, you need to ensure that the legalities are in place to safeguard your investment. Here is a list of important checklists you need to remember before you buy properties in Mysore.
Proper verification of the title to the seller
Verifying the title of the seller is very crucial. It is the legal way of saying a person owns the right of something and he has the right to use and sell that property. There are certain title documents one should verify, which includes title documents of the property, nature of the title, and khata registered in the name of the seller.
The identity of the seller
Once you have verified the property to the seller, the next step is verifying the seller’s identity. You must verify the residential status of the seller, whether the seller is a company, trust or a partnership firm, whether the property has multiple owners and so on.
Encumbrance Certificate
Encumbrance Certificate or EC is one of the important property documents that you need to apply and verify when you decide to invest in one of the residential properties for sale in Mysore. It is a legal claim on a property that affects the owner’s ability to transfer the property ownership. This certificate is evidence that the property is free from any monetary and legal liabilities.
You can find numerous residential properties for sale in Mysore. But it is important to seek all the above documents from the seller at the time of buying properties in Mysore. It is also critical you deploy a competent property lawyer for vetting of the said documents. The property lawyer can help you deal with all the legalities. You may feel that it is a lot of time and effort that is required for verifying all these legalities. But you are going to be making a once-in-a-lifetime investment, so it is worth the effort and expense.
