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Purchasing a property can seem to be a daunting task. It can be stressful both emotionally and financially. That’s why it is important to verify all aspects of the property and make sure that it is completely dispute free and no legal hassles show up in the future.
The things to be verified include: Inquiry into the capacity of the seller, Legal due diligence on the buyer’s side, buy and sell agreement, execution of sale deed, property possession, property registration, completion of property payment.
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It is better to contact a property lawyer for property documentation and verification. The lawyer will get the required reports from the concerned authority and verify the papers thoroughly. It is important to check whether the appropriate stamp duty is paid and the papers are registered.
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Frequently Asked Questions (FAQs)
When you are buying a property or taking property on long-term lease or applying for a loan against the property, you must do property verification.
A qualified and experienced property lawyer is the best person to conduct property verification.
Property verification usually takes a week’s time, if all the papers are in order. Otherwise, it may take longer.
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