Word of mouth breeds doubts, and a documented deal is the proof of evidence. A written agreement is the only way to legally establish the authenticity of the property’s ownership. It is binding between the parties to the deal. Title to property has great value. It is secured, stored, and inherited.
Accuracy first
Names and other details of the parties to the agreement cannot be wrong. Never dictate details and write down. Refer passport or Aadhaar card for accuracy of spelling and overall details. A person’s name is often recorded differently in different records. Mention the different versions of the name as alias. Similarly, a woman may have name both father’s name and husband’s name after her name. Care must be taken to consider both.
What is agreement to sell?
Agreement to sell is the document which contains detailed description of the property and the terms and conditions between the parties, including agreed purchase price. It is prepared in the process of sale of property.
What is title deed?
the sale deed or title deed is the most important document that records the actual transfer of ownership of the property. It is at the sub registrar’s office under whose jurisdiction the property would fall.
What is encumbrance certificate?
This is the document to prove a property is free from encumbrances or loans. Bank needs the document to provide loan against the said property. All details about transactions relating to the property can be found therein.
In short, get expert advice on documenting any deal. Be it buying or selling property. Never miss out any important aspects.
