Legal Details to Keep in Mind While Planning Your Home Purchase

Undoubtedly, buying a house is one of the biggest purchase a person can make. Apart from the biggest, it is also a complicated one. Considering this aspect, it is vital to be aware of the legal aspects that revolve around buying flats in Thane West or around. You do not sign an offer to purchase without looking into the legal aspects it comprises of. You might have spent most of your time in searching for a property or house that meets your needs. Now, that you have shortlisted some, it is wise to know the legal details that revolve around it. This further avoids you from getting involved in any legal conundrums later on.

Get to know the legal aspects and documents that need great consideration before making your first home purchase:

Title Deed – This is one of the vital aspects you need to check when making a home purchase. You should know if the title is not perfect and free from any hindrances, a seller cannot transfer the property to a potential buyer. An individual claiming to be the seller cannot sell the property if it is not under his name. You can get information of the title deed at a Sub-registrar’s office. As a buyer, you are authorised to get all the property title documents. Ensure the title is free of any disagreements over the property’s ownership. While checking, do ensure the seller has the property’s ownership or just the rights for development.

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Master Plan – When making a home purchase you are bound to come across real estate companies and builders who claim of infrastructural development on the location of the property. It majorly includes construction of new schools, infrastructure, improvement of transport, construction of shopping mall and more. These aspects often do not hold any ground and are often said to attract buyers. Considering this aspect, it is important to inspect the area’s master plan and ensure the claims made are right.

Land Use Certificate – You very well know that constructing a residential complex over a commercial property is completely illegal. In order to verify the same, you have to apply to the development authorities to ensure the residential property you are investing in is a residential zone completely. It should not be a commercial, industrial or agricultural area. Doing so only leads to demolishing of the property later on.

Property Tax Receipts – No matter whether you are buying flats in Thane West or around, ensure you have checked the tax receipts. This further ensures the property’s seller has paid all the tax accumulating on the property for the last three years or more.

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Encumbrance Certificate – Another vital legal aspect to keep in mind is the Encumbrance Certificate. It is wise to know the property you are investing in is free from any legal dues. In the case of title deed, encumbrance can be searched at the Sub-Registrar’s office. It offers all the details like mortgage, liens, third party claim and so on, thus helping you make a wise decision. An encumbrance certificate should have all the transaction record of the concerned property.

Keep these legal details in mind to ensure you have a wonderful home buying experience.