Buying or selling a property, the sale deed is one of the most important legal documents that need to be prepared. It is a legal document that is executed between the seller and the buyer of a property, transferring the ownership of the property from the seller to the buyer.
A sale deed contains all the important details of the transaction, including the price, the terms and conditions of the sale, and other necessary information.
If we are planning to sell our property, we must ensure that we have all the necessary documents ready for the sale deed. The sale deed is a legally binding document and any discrepancies in the information provided can cause legal issues in the future.
Here are some of the required documents that we need to prepare for a sale deed:
1. Title Deed:
The title deed is the most important document that establishes the ownership of the property. It is essential to provide a clear title deed to the buyer as it provides them with the confidence that the property is free from any legal issues.
2. Encumbrance Certificate:
The encumbrance certificate is a document that verifies that the property is free from any mortgage or legal dues. It is essential to provide an encumbrance certificate for the past 15 years for the sale of the property.
3. Building Approval Plan:
If the property has been constructed, a building approval plan needs to be provided. It verifies that the construction of the building was done as per the approved plan.
4. Completion Certificate:
A completion certificate is necessary if the building is constructed. It confirms that the building is constructed as per the approved plan and complies with all the necessary regulations.
5. Property Tax Receipts:
Property tax receipts for the past three years need to be provided to verify that all taxes have been paid.
6. No-Objection Certificate (NOC):
If the property is under a housing society or a cooperative housing society, an NOC needs to be obtained from the society, allowing the sale of the property.
7. Power of Attorney:
If the property is being sold on behalf of someone else, a power of attorney is required to verify that the person selling the property has the legal right to do so.
Selling a property is a complex process that requires careful consideration and the preparation of several legal documents. Preparing the necessary documents for the sale deed ensures that the sale is legally binding and free from any legal issues in the future.
It is recommended that to consult a legal expert to ensure that all the necessary documents are prepared correctly and in compliance with the legal requirements. Contact BrokerageREFUNDABLE.com for selling or buying property.