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One of the crusial step in selling a property is the check list of property documents that needed to be kept in hand.
It is quite clear that around 80% of the sellers are negligent of the importance of getting all the property documents verified.
You need to be prepared to produce these documents whenever buyers demand to make the selling process smoother.
We have decided to help you with the property transaction process by sharing the list of property documents – Part I needs to be handed over to the buyer
Title Deed / Conveyance Deed/ Mother Deed/ Sale Deed
It is the major legal property document that marks the evidence of sale and indicates the transfer of ownership of property from the seller to the buyer.
RTC Extracts
It provides information on establishing “whether the land that was previously used for agricultural purposes has been transformed into commercial one”.
Khata Certificate and Extracts
Khata represents the account of a person who holds property in the city.It is of two types, the Khata Certificate and the Khata Extract.
Mutation Register Extracts
Mutation Register Extracts is required to define the “Title of the land” whether the property is located on converted land.
Joint Development Agreement
It is the agreement between the landowner and a builder indicating the original title of property ownership.
General Power of Attorney
It is a kind of legal authorization that empowers one person the right to authorize another person to act on his or her behalf as a legal representative.
Building plan sanctioned by the Statutory Authority
It is used to prove that the property is authorized or unauthorized and as the name suggests, the permission for the construction of buildings is issued based on a pre- determined set of rules.
NOC from ElectricityDepartment/Pollution Control Board/Water Works/ Air Port Authority
It is an important and mandatory requirement that the builder needs to seek approval for before starting the construction work.
Supplementary agreement / Ratification Deed (if any)
It is to catch any kind of changes, modifications or extensions that have been made across the certain clauses of Principal Agreement.
Sale Agreement between Builder and 1st Owner
It contains the liability of the Builder to construct the building as per the specificationsauthority.
Allotment Letter from the Builder/Co-Operative Society/Housing Board/BDA.
It contains the description of the property and the project specifications as issued by the Builder or Housing Society.
Copy of possession letter from the builderThe possession of the said building is transferred to the buyer and is valid from the dateas specified in the letter.
Construction Agreement between Builder & 1st Owner
It deals with the execution of the work related to the construction of the flats or apartment
Payment receipts paid towards the builder
Should not forget to collect the payment receipts in original from the builder
If any loan on the property (Current or past) / Original Property Documents with Bank
It is mandatory to maintain and verify the original documents when buying or selling the property
