Want to buy a property how verify whether property good to buy or not
20-Apr-2023 (In Property Law)
I am staying a house on lease basis. How can I find whether that property is having any litigation or has taken loans from any banks? Because I have paid more money for leese.
It is very difficult: The Banks / Financing Institutions / Individuals are lending loans to the immovable properties by collecting the Tittle Deeds and other documents, by adopting English Mortgage with the Transfer f Property Act in force.
The English Mortgage of the Property are does not registered at Sub-Registered Officer, so the same does not reflect in the Encumbrance Artificer.
You can ask the Owner of the Property to disclose the Original Tittle Deed after verifying the same and get declaration by way of Affidavit from the owner of the property that the property have no litigation or mortgaged with any of the Banks / Financing Institutions / Individuals.
The English Mortgage of the Property are does not registered at Sub-Registered Officer, so the same does not reflect in the Encumbrance Artificer.
You can ask the Owner of the Property to disclose the Original Tittle Deed after verifying the same and get declaration by way of Affidavit from the owner of the property that the property have no litigation or mortgaged with any of the Banks / Financing Institutions / Individuals.
First of all apply for the Encumbrance certificate at the jurisdictional SRO where your property situated. EC will reflect all the mortgages/loan etc., if any.
You can verify the ownership of property at the concerned administrative office like village pachayath, Municipal office, town municipal office, BBMP office, etc.
You can also give a public notice in the local news paper describing the property details and nature of your leas hold in the property and can call for objections from the interested person or even from geeral public.
you can also verify at the local land acquisition office/s to know whether the particular property was acquired of not.
When you were agreed to take on lease must verify all these.
You can verify the ownership of property at the concerned administrative office like village pachayath, Municipal office, town municipal office, BBMP office, etc.
You can also give a public notice in the local news paper describing the property details and nature of your leas hold in the property and can call for objections from the interested person or even from geeral public.
you can also verify at the local land acquisition office/s to know whether the particular property was acquired of not.
When you were agreed to take on lease must verify all these.
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