Make Sure You Check These 10 Things Before Selling Your Property


You were a novice when you bought this home and it doesn’t fit the bill anymore. You have again gone through the hardwork of finding a property that now suits your family requirements and it’s time the old house paves way for a newer one. We give you a document checklist if you have decided to sell off your property

  1. Sale Deed: The most important document is a registered Sale Deed. This serves as a proof of sale or transfer of ownership of the property from the last seller to you.
  1. Mother Deed: Next is the Mother Deed, also known as the parent document, it is an important document that helps in tracing all the former ownerships of the property in case your property has exchanged many hands. If you don’t have an original Mother Deed, you will have to produce a certified copy from the registering authorities
  1. NOC from society: You will also require a no-objection certificate from your housing society or RWA in case it has been formed
  1. Encumbrance Certificate: Get a copy of Encumbrance Certificate available. This serves as an evidence of free title of your property
  2. Registry: You would also need copies of the stamp duty and registered house documents
  1. Building plan & OC: A copy of the approved building plan and occupation certificate issued by the competent authority is another relevant document.
  1. Consent of joint owner: In case of joint ownership, you will have to submit documented consent from the joint owners.
  1. Property tax receipts: Keep your latest property tax receipts handy to prove that there are no tax dues on the property
  1. In case you have misplaced the sale deed or chain of deeds, an indemnity bond along with a confirmation letter from the housing society would be required
  1. Unfortunately, if you have also lost the original copy of stamp duty and registered house documents, getting an indemnity bond would salvage the situation 

Once the documentation procedure is done by both the parties, enter into an agreement to sell which will be followed by the execution of a sale deed. 

Reviewed by- Sunil Tyagi, Senior Partner & Co-Founder, Zeus Law

 

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