Sunday, September 21, 2008

Are you buying Landed Property ? Some Precautions

Cases of impersonation is increasing in real estate transactions. Most of the times, buyers do not insist for proper identification of the Seller thinking that only owner comes forward for sale. But there are thousands of cases of fradulent transactions reporting in urban India. Hence, a piece of advice. Know your Seller before knowing more about property.
1. Who is the Seller?. Ask this question first. Insist for identification with the help of PAN Card, Passport, Voters ID Card, DL, Bank Pass Book etc. Keep a copy thereof for reference.
2. Compare seller's personal identification details with the particulars mentioned in the title deed. [ Sale Deed, Gift Deed, Settlement Deed, Partition Deed, Will, Grant Certificate etc].
3. Verify these details with reference to Khata and Record of Rights.
So, ensure that he person who claims to be the owner is capable of proving his ownership based on documentary evidence.

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