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Legal advice will certainly help
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One must be cautious and certain guidance is what is required when you venture out to search and buy a property, says T. Lalith Singh
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Property issues are not that easy to deal with. For many it is a matter of lifetime’s earning that goes into acquiring a property to call their own. Whether it be an apartment flat to reside, a plot on outskirts as investment or a farm land in the nearby districts in hope of long term returns, not only hard earned money is pumped but most instances involve raising big money that is repaid with stiff interest.
The real estate boom has thrown up all sorts of players on the field and the sharp rise in complaints of deceit and duplicity is reflection of the fact that all is not well out there. There are many genuine developers and honest agents dealing land issues but then there are also some who are just waiting to take you out on a dreamy ride and then dump you after emptying your bank account.
Thus lot of caution and certain guidance is what is required when you venture out to search and buy a property. And when confronted with legal issues, do not go for self-guidance or half-baked advice, but prefer to walk into the office of a seasoned legal practitioner for wading through the maze that comes with property acquisition.
Do not ever be taken away by the beautiful advertisements and brochures. The glitzy material could be coming with a bit of exaggeration and factual status not actually presented. And do not allow yourself to be carried by the hard sell indulged by the marketing teams who drown you with incessant talk on why you should put the money in their venture.
A bit of forethought and closer perusal of the fine print will help in having a better understanding. But remember a physical inspection of the site and in case of flat, to the apartment block, will surely give you a better perspective.
So, never miss out on going down to study the actual location, environs and facilities available there on ground. Since the whole process of buying a property comes with legal issues involved, make an effort to understand them. Pore through various clauses, points and have some grasp on their finer nuances. If not sure, check and double-check.
Take the services of a trained practitioner to find way through the legalese.
Clear your doubts
Start with the knowledge that as a buyer you have certain rights. Do not hesitate to demand information and when in doubt, never stop yourself from seeking clarification. As per the law, a seller is duty bound to disclose every bit of detail about the property in question and also make clear material defect if any associated with it.
Legal practitioners say the Transfer of Property Act puts onus of information on the seller and says he should disclose defects ‘which the buyer could not with ordinary care discover’. Also, all documents including permissions related to construction and proof of payments such as taxes and cess to local bodies should be made available. On his part, the buyer is also expected to investigate the title before he enters into a transaction.
Sale deeds made till a few years back did not come with details or proof pertaining to the purchaser but contained only those of the seller. This had affected a flow of title and in some cases ended up creating uncertainty and offering some scope for malpractices.
This was sought to be rectified by making it mandatory to enclose a sheet along with photographs of the buyer and also his/her signature and thumbprints.
Recommended
It is advisable to avail the services of a lawyer in drafting a deed instead of just visiting the document writer. A background check on issue of inheritance could also help avoid problems in future as there have been instances of a seller wilfully suppressing facts related to others holding interest in a given property.
A publication of intent to buy the property in a well circulated newspaper is also advised by the legal experts as an ‘abundant caution’.
In case of a property that is owned by more than one person, do check certified link documents and also ask for documents related to encumbrance as and when needed.
Another aspect is to check with local development authorities whether it is an authorised layout or not and whether any zonal regulation violations are involved.
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Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Thiruvananthapuram
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