So before you register a house or land it is important to confirm some information about it. There are many scams going on in today’s real estate industry. It is important to make some pre-arrangements so that you do not get caught in any of these and register your land or house smoothly without any problems and settle happily.
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The Registration Act of 1908 was enacted in India to register properties. The main purpose of this is that when the property is registered, all its data and details about it should be properly calculated and kept in the files.
If you are planning to buy a house, make sure of these things mentioned below.
First of all, before buying a land or a house, it is important to investigate its history. To know about this, you can consult any lawyer and know the details about the tax liability for that land. Also there is a way in law that you can know about 30 years history of a particular land or house. It is also important to get proper deeds from the land seller or broker and verify them.
Secondly you can advertise the property you want to buy in the local newspaper. This will help you to know if there is any problem with the land of a job. Maybe this message you already advertised can help you as a resource if there is any problem in the future.
Thirdly, you need to know about Power of Attorney. A power of attorney is a document in which the owner of land or a property fully entrusts the responsibility of managing it to another person. In today’s real estate market there are many scams using this method. So it is important to check once or twice who owns the property you are going to buy. You can get help from a lawyer for this.
Fourthly it is necessary to obtain a No Objection Certificate. By getting this certificate called NOC you can avoid many problems in future. It is also a must to ask for and verify tax paid slips for the property.
Finally, sometimes you may need the help of banks. When you get a loan from a bank to buy a property, the bank will come forward to give you a loan only if the above mentioned securities are correct. Maybe if the bank refuses to give you a loan, there might be a problem with the land
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Tags: Business, Home Loan, Land Documents, Tamil Nadu