Online Property Verification
When it comes to purchasing a property, you should not take any chances. At Legaltoast, you can get legal advice about your property title from qualified attorneys.
To avail our services, we charge 499/- as an advance or security payment.
HOW DOES A ONLINE PROPERTY VERIFICATION WORK FOR YOU?
We connect you to experienced lawyers.
The documents have been gathered, and all of the documents have been verified.
The lawyers submit all the decisions
WHAT IS PROPERTY VERIFICATION
Purchasing a property may be a great financial and emotional experience. As a result, it is critical to ensure that all legal complexities are clear so that future legal issues be avoided. Legal, due diligence on the property by the buyer, and an investigation into the seller’s ability to pay—agreement to sell and earnest money, execution of sale record, registration, possession, and payment fulfillment are the challenges to be kept in control.
What Is Property Title And How Is It Important?
- Assurance that property involved in a transaction is free from litigations.
- Easier to take loans against the property after verification.
- Proof that the seller has the right to sell the property.
- Avoiding a transaction if fake or forged documents are given.
- The seller might sell the same property multiple times and fraud people, which can be avoided through property verification online.
BENEFITS OF PROPERTY VERIFICATION
- Legal Assistance
Verifying all property papers helps you to retain legal authority over the property. This means you won’t have to deal with any legal concerns in the future. Land disputes and litigation are incredibly prevalent, and they are usually the result of unconfirmed properties.
- Complete Ownership
You’ll be able to rest assured that the person you’re buying the land from is the genuine owner once you’ve confirmed it. There will be no barriers in your way, and after the transaction is concluded, you will be able to establish your ownership.
- Reuse the Property
Because there is a massive demand for residential real estate, you can buy the property and rent it out to tenants. Only after the property has been validated will this be possible. This is one of the most significant benefits of property verification.
- Avoids Hassles
Nobody likes inconsistencies that destroy all they’ve fought so hard for. Buying a house is a sentimental as well as a financial investment. The wrong paperwork can be the end of a long-term home and investment.
- Validity for Loans
You must verify that you are the single owner of the property to acquire a loan or mortgage on a home. While purchasing a home, you must conduct thorough research to minimize potential conflicts and obtain financing against the property. (Remember that a low loan-to-value (LTV) ratio is preferable to the lender, whether you’re seeking a new mortgage or refinancing your home.) However, in other cases, what is considered “good” may not be the same as what is considered “acceptable.” Use this finest (LTV) calculator to calculate loan to value ratio, the total amount outstanding, first, second, third, and combined mortgage loan to value ratio.
Features of Online Property Verification
Here are some advantages of the use of technology for property registration:
- Ease of use: An online property verification is particularly convenient to submit over the Internet, since you may obtain the registration form online. Instead, one can get the paper from the concerned authority’s office in the state. Once details specified on the form and relevant documents are confirmed, the property is registered in a few days.
- Avoids litigation: As Online Property Verification analyzes all activities related to the property, it helps to furnish evidence in any conflict.
- Enhanced transparency: Details covering the entire records of property, number of bedrooms, entire carpet area, and rest details are listed online. The objective is nothing to hide about the property to increases transparency and minimizes the chances of fraudulent property deals.
- Safety: Online property verification on two accounts are reliable. Firstly, a hacker has no access to the owner’s documents, including the transfer of authority. Second, several security layers are encoded SSL-encrypted government servers. They also have a custom mechanism for logging in. login system.
Why Is It necessary To Get Property Title Verified?
- To understand that seller has lawfully named and has ownership to sell the property further.
- To confirm that the property is free from any difficulties or credits.
- To get himself released from any fraud/scam/cheat etc.
The Limitation Act, 1963 presents a limitation period of 12 years in case of adverse property for private land. The limitation period in the case of rights related to the government is 30 years. So it is appropriate to get the title verified in confined lime to avoid any difficulties related to the property / title.
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PROCEDURE FOR PROPERTY VERIFICATION
Connect To Lawyers
We’ll put you in touch with property lawyers who will prepare all of the necessary reports from the subregistrar’s office.
After receiving the certificates, the lawyers will review all property-related reports to ensure the seller’s title and rights. The documents will also be checked to ensure that the records have been filed and that the appropriate stamp duty has been paid.
REQUIRED DOCUMENTS FOR PROPERTY VERIFICATION
- Conveyance Agreement
- Sale Agreement
- Agreement To Sell
- GPA/Power Of Attorney
- Relinquishment Agreement
- Partition Agreement
- Freehold/Mutation Details etc.
FAQS ON Online Property Verification
We will connect you to property lawyers, who will create all the needed reports from the sub-registrar office.
It would offer you total peace of mind to know that there are no other claims to your property. Given the large quantities involved in such a transaction, this is a significant event.
This will be fulfilled with the assistance of qualified real estate lawyers.
Property verification should take no more than a week if all of the paperwork is in order.
A number of scams can be conducted. For example, the seller may not have the right to sell the property or may only have a limited permit to do so. Furthermore, another person or party may have a claim to the property. Registration takes place in the Registrar's or Sub-office.
You will receive a Title Search report for the past 13 years as part of this package.