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Documents you must have while selling your home

Highlights

  • Necessity of all documents and why?

Documentation Saturday, 25th June 2016

When one wants to sell his land, property documents are very important. They are considered as primary proof that is used to show the buyer before finalizing the property. It is the only proof which insists the buyer to buy your property and it is considered as an original proof.  

Following documents are needed in order to sell any property:

Letter of Allotment
1. The allotment letter present that the property is allotted from a relevant society which is considered as the chief document needed in the order.
2. Sale Deed
3. When you plan to sell your home, then you must need sale deed of the property by the previous owners. If one has applied for the registration of original deed by the registrar. For that, one has o provide zerox copy of sale deed along with the copy of receipt. The receipt should be signed by the subregistrar where the entire registration process takes place. 
4. This represents the ownership of the land property. If you missed any document then selling it can be difficult for you as absence of any legal document may complicate the process. Any land with all legal documents gets higher price in market as compared to those which don’t have complete documents.

5. The previous agreement papers are passed to the owners with original receipts and allotment papers issued by the development authority. 
6. Sanctioned plan
7. Another important document is zerox copy of approved building plan with issued occupation certificate by the competent authority. 
8. Society documents
9. The competent authority provides the permission of the transfer of property. The ownership is signified by the development authority. The builder must be provided with the payment along with original stamped receipt. 
10. Another relevant document is the zerox of share certificate provided by the society that represents your connection with the society. A CHS certified NOC is provided by the person which mentions that society has no problem with the purchase of land. 
11. Another certificate is needed which is certified by the society which mentions that you have no outstanding expenditures to the society. Society’s membership transfer form of ownership should be filled and signed. 
12. Encumbrance certificate.
13. Encumbrance certificate is also considered as an evidence for the property transaction. While buying any land or property, it is mandatory to confirm about the land as it should not have any legal dues. A potential buyer must confirm that the property does not have any legal due and should have clear marketable title. 
14.Sale agreement.

Once the documentation process is completed then one can precede the process like prepare the agreement of selling and confirmation of terms and conditions. After that, sale deed can be prepared. 

An agreement is created between the seller and buyer and it has sign of both of them on the non-judicial paper. This agreement is kept safe as evidence.

Sell agreement is an important document on which sale deed is drafted. Every property sale paper is preceded to the sell agreement. It mentions about the terms and conditions.