Lifestyle

Are You Planning To Buy A Real Estate Property? Here Are Some Must-Have Documents

Well, if you have been deciding to buy or invest in a real estate property for a long time and think about what documents you need? Then here is the list for you. Make sure then you plan well before investing in a property. It is a legal concept, so you must know what things you need.

 Property documents are the essential component to have while purchasing a property. However, if you are confused, you can also visit an estate planning attorney near me who will provide you with a detailed description of all the documents. Therefore here is a list of vital documents you need to have while buying an apartment.

Sale deed

It is one of the most important legal documents that prove to transfer ownership to your name. However, before you get this document, make sure you sign up sale agreement. Make sure you read all the terms and conditions provided by the seller. 

Apart from it, you should settle all the necessary things like property tax, water charges, society charges, electricity bills or cess before preparing the sale deed. Moreover, ensure that no other changes are made to the documents. Finally, read it before you sign it.

Mother deed

A mother deed is another legal document, called a parent deed, which you must have before buying a property. It explains the origin of ownership and reselling easy. If you do not have the original copy, you can also use the certified ones obtained from registering authorities. Moreover, this document is essential because it continues the sequence of ownership.

 For instance, the line goes on if your parents own the property, then transfer to you, and you have moved to another person. But if you do not have a mother deed, the sequence will get broken, making it hard to resell.

A building approval plan

You must have a building approval plan if you have purchased a semi-constructed out or just a flat. Several services like BDA, BBMP or BIAPPA provide you with a legal document to construct your house. The owner should submit these documents to get the building approval plan.

 Moreover, ensure you share the tax receipt, property drawing and land use certificate provided by the authorities. They will check all the documents and analyze the picture, after which you can get the approval within four to five working days. This document is essential as municipal cooperation can act against you if you do not have this document.

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