Introduction
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Buying a property is a significant financial decision that requires careful consideration and attention to detail. One of the most critical steps in the buying process is the legal verification of the property. A legal verification is an essential aspect of ensuring that the property you are interested in is free from any legal issues or disputes. However, many buyers make common mistakes that can lead to problems in the future. In this article, we will discuss the most common mistakes to Avoid before property legal verification.
Not verifying the ownership of the property
One of the most crucial aspects of legal verification is verifying the ownership of the property. Many buyers assume that the seller is the rightful owner of the property, but this is not always the case. It is essential to check the ownership details in the property’s documents, including the sale deed, title deed, and mutation certificate.
Not checking the encumbrance certificate
An encumbrance certificate is a document that verifies that the property is free from any legal disputes or liabilities. It is essential to check the encumbrance certificate before purchasing a property to ensure that there are no disputes or liabilities associated with the property. Many buyers overlook this step, which can lead to legal problems in the future.
Not verifying the building plan approval
Before purchasing a property, it is essential to verify that the building plan has been approved by the local authorities. Many buyers assume that the building plan approval is automatic, but this is not always the case. The approval process can be time-consuming and complicated, and it is essential to ensure that the building plan has been approved before purchasing the property.
Not checking for pending litigation
Another common mistake that buyers make is not checking for any pending litigation related to the property. It is essential to check with the local court and verify that there are no pending cases related to the property. This includes cases related to property ownership, disputes, or encroachments.
Not verifying the tax records
Before purchasing a property, it is essential to verify the tax records of the property. This includes property tax, water tax, and electricity bills. It is essential to ensure that all the taxes have been paid up to date and there are no pending dues.
Not hiring a professional for legal verification
Legal verification of a property can be a complicated and time-consuming process. Many buyers try to save money by skipping the legal verification or doing it themselves. However, this can lead to legal problems in the future. It is essential to hire a professional lawyer or a legal expert to conduct the legal verification of the property.
Conclusion
Buying a property is a significant financial decision, and it is essential to ensure that the property is free from any legal issues or disputes. Legal verification is an essential aspect of the buying process, and it is essential to avoid common mistakes that can lead to legal problems in the future. By following the steps mentioned above and hiring a professional for legal verification, buyers can ensure that they are making a wise and informed decision.
