Buying a property or home is a significant investment, so ensuring the land you buy is free of liens, disputes, and other encumbrances is essential. Verify all the property documents to ensure legality and authenticity, such as ownership verification, property details, liability and disclosure, price and payment agreement, and transfer of ownership.
Please review all the legal documents beforehand rather than regretting them later. This blog will discuss the checklist of legal documents required for buying a property.
Let’s get started!
List of essential legal documents:
- Sales deed
- Title deed
- Property tax receipt
- Power of attorney
- Encumbrance Certificate
- Building approval plan
- RERA certificate
- Occupancy certificate
- Completion certificate
- Society NOC
- Mutation Document
Sales Deed:
A sale deed is an important legal document used to transfer property ownership from one person to another. It is required to buy and register a property. Based on the information in the sale deed, the property is registered. Following registration, the buyer of a property specified in the sale deed will take legal ownership.
Title Deed:
An official document that specifies how property is acquired, possessed, transferred, or assigned by an authority is called a title deed. It contains details regarding a person’s ownership rights or the amount of land. Title deeds are one of the crucial documents required for property registration, which allows one person to transfer their land ownership rights to another.
Property tax receipt
An annual fee imposed by the government on property owners is known as a property tax. This receipt serves as proof that the previous owner paid all taxes. It establishes the property’s legal status and ensures nothing is left behind.
Power of attorney
If someone is acting on behalf of the property owner, it must be stated in an initial power of attorney. A power of attorney is a legal document that gives someone else the authority to manage, buy, or sell property on your behalf. This “authorized agent,” frequently referred to as an “attorney-in-fact,” may take over and administer your assets by the authority given in the power of attorney.
Encumbrance Certificate
One important document that certifies free title or possession of a property is an Encumbrance Certificate (EC). Verify that the owner possesses the encumbrance certificate before purchasing the property. This document guarantees there is no mortgage on the property. The owner must pay off any outstanding debts if the property has a loan and there are any dues before selling it. You can obtain this certificate from the sub-registrar’s office.
Building approval plan
It is also called an approved layout plan, and many real estate companies in India provide it to their buyers. This is a blueprint that requires local authorities’ approval. Because building without a plan’s approval is illegal, it is necessary since it attests to the fact that the local authorities have approved the building where you intend to purchase a home and that there are no issues with it. Make sure both building and layout plans are approved. Future Property’s all apartments in Vijayawada have outstanding building approval plans and completion certificates on the same. You can check out for more details.
RERA Certificate
Every real estate developer must register with the Real Estate Regulatory Authority (RERA). If they have flats or gated communities in Hyderabad, they must have a certificate from TS RERA. If they have flats or gated communities in Andhra Pradesh, they must hold a certificate from AP RERA. Each developer and project receives a unique registration number and certificate upon registration. So, buyers need to verify the RERA certificate from the property holders and ask for a copy.
Occupancy certificate
The local government agencies and authorities provide occupancy certificates, which attest that the building was built according to plans authorized by the relevant authorities. This certificate certifies that the building has all the services, including electricity, water, and sanitary facilities. Property buyers must ask for this. At Future Property, our flats in Vijayawada have updated occupancy certificates to ensure that they are built according to the norms and all amenities.
Completion Certificate:
A completion certificate serves as proof that the property’s building was finished in compliance with the established standards and specifications. Buyers can relax, as there will not be any issues if they take possession. You can buy flats in our gated communities in Vijayawada, as we hold completion certificates.
Society NOC:
When someone wishes to buy or sell open plots in Hyderabad, apply for a bank loan, or is required for any legal documentation process, the society’s owners and authorities provide a Society NOC letter to the society.
Mutation Document:
The ownership transfer of the property is documented in the municipal records by this document. For every legal transaction involving property, property mutation is a necessary procedure. Upon altering the property, the new owner receives the revenue records under his name. Such information will be updated in the revenue records kept by civic organizations such as Municipal Corporations, Panchayats, and Municipalities as soon as the property is altered. GHMC (Greater Hyderabad Municipal Corporation) is carrying out the mutation procedure in Telangana.
Are you looking for a real estate company in Hyderabad?
We, Future Property, are the best real estate company in Hyderabad. We offer well-equipped plots, apartments, gated communities, and homes with all apartment amenities in Telangana and Andhra Pradesh. Our projects include Hill City Villa Open Plots, located in Shankarpally, Hyderabad, Telangana, and Srikara Homes—Apartments, Situated in Ippatam, Tadepalli, Vijayawada, Andhra Pradesh. Reach us for your dream home!
