Property Documents: While buying a property, do check these 5 documents once, without this you will not get ownership rights..

People work very hard and save every penny to fulfill their dream of building their own house. When this dream is about to become a reality, a lot of paperwork comes up. If you are taking a home loan, then you have to go through a long process of paperwork related to banks and government offices.

Many people have very little knowledge about property documents. But these documents present your claim on the property. Therefore, you must know about them before buying a house, property, or land.

In such a situation, it is very important to gather information about many things before making any deal. You can also take legal advice for this work. Let us tell you about those documents which are mandatory for buying a house-

Deed-
This page of paper is most important for buying a house. The original deed proves your ownership right on the property. You have to register your property by going to the Sub-Registrar's Office of the area where the property is located.

Possession Letter-

The developer issues a possession letter in favor of the buyer, which mentions the date of possession of the property. It is necessary to present the original copy of this document to get a home loan. Unless OC is obtained, the possession letter alone cannot be considered sufficient for possession of the property.

Mutation (Dakhil-Kharij)-

This document is used in the properties of Gram Panchayat. It contains information about the previous owner. Although there is no need to provide the original document, if you buy property in areas under Gram Panchayat, then it is mandatory to show it.

Occupancy Certificate-

The occupancy Certificate is an important document, which must be taken from the builder. If he does not give it, then the buyers have the right to take legal action against the developer.

No Objection Certificate (NOC)-

Very few people would know that to build a project, the builder has to take 19 NOCs from different authorities. However, this number may vary in different cities. You can ask your developer for a copy of these NOCs to keep in your record.

Mortgage-

A mortgage is a type of loan that a borrower uses to purchase or maintain a house or other forms of real estate. Also agrees to pay it over time. The property acts as collateral to secure the loan.

Property tax receipts-

Homeowners have to pay taxes. Also, make sure that the previous owner has paid the property tax and there are no dues now. Property tax receipts also help in proving the legal status of the property.

Allotment letter-

Allotment letter is an important document for home loan, which is issued by the developer or housing authority. It contains complete details of the property and the amount paid by the customer to the builder.

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