Precautions to Take While Preparing Property Documents
When your search for a dream home is over and most things have been done, the last and most significant thing you have left is to prepare all the property-related documents. We are not professionals and a layman unaware of the legal processes required to purchase a property. Even if you attempt hard, there will be many things that will go over your head. So, this last and final phase should be treated with the utmost care, so you don't have to face problems in the future.
Comprehensively check the details of the parties
The parties' names are a prominent part of the document; therefore, names should be checked. Confirm the names from academic records, passports, or Aadhaar cards to get the parties' correct spelling. If a person's name is registered differently in different records, mention the various versions of the name as a moniker. Suppose a woman's name is registered as the daughter of a person in one document, and in another, it is registered as the wife of a person. In that case, it is better to record both parts to avoid confusion. Any mistake will put the parties at a problem as the deed will have to be repeated. The dealer may not be available, or his whereabouts may not be known to the buyers. Or the dealer may demand extra money or put conditions to perform the rectification deed in favor of the purchaser. In a nutshell, the purchaser must confirm that the details are entered correctly.
Age of the parties
With all the documents available, verify the age of the parties. Don't put any inaccurate age, and it is advisable to register the actual age of the parties concerned.
Profession and addresses
The occupation of the concerned parties and their present and permanent addresses should also be registered without errors. Any incomplete description of the parties will create confusion. It is essential to get it cross-checked to ensure that there are no mistakes.
Link document numbers
It is essential to correctly register the link document number, registration date, sub-registrar/registrar office name, and district name.
Money paid
You must register the details of money paid in numbers and words. This is an integral part of the documentation procedure, and care should be taken when recording these details.
Cheque or demand draft number
If the amount is paid via a cheque or a demand draft, details such as its number, issue date, bank, and branch and the amount should be correctly recorded. Take expert advice in recording the details of these instruments.
Schedule of the property
It describes the property's details by noting in which village or city the property is located.
House location
It is essential to nicely write the town name, the registrar office name, the property number, the size of the land, and all four peripheries of the property. If it is an apartment, it is essential to list the entire piece of land on which it is built. Flat numbers, common areas, and car parking areas should also be given. It is vital to get full details of the owners of the adjoining properties, like 'the neighbor's property. If there is a roadway along one of the edges, its width should also be noted along with its name.
Attesting witnesses
Attesting witnesses plays a crucial role in the event of a conflict regarding the document's validity. It is essential to have reputed, and respected citizens stand as witnesses. Their version regarding the paper execution will be critical in case of any conflict regarding the document's validity in a court of law. Transfer of Property Act requires that two witnesses be present, but if parties wish, more than two people may be included as attesting witnesses. For an infallible job, give comprehensive and accurate information in the document. Don't leave everything to the paper writers or lawyers. You must vigorously participate in the documentation procedure because your stakes are more elevated.
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