Sale of Property
What is the process of selling a property? Please tell in detail along with the laws involved and the documents required for the sale of a property. (being reposted due to techinical glitch originally posted by Aditya Marwah)
Basic requirement is identify the property firstly its physical existance and its availability on maps. Secondly the legal search for title, thridly the documents scrutinized in search, whether they are sufficiant of not? Because many of the features which affects the title are overlooked. The documents may be different for case to case, but for example, if the property is from rular area, not only 7x12 extracts, and mutation entries are the part of the search, the document type 1,1A etc. are of relevancy and another set of document is related to forest. The property , which is subject of search whether it is forest or not? if forest, what is its status (protected or ristricted etc.),etc. In case of property like appartments, deed of declaration, power of attorney whethere specific or general , the text embeded in these documents, the text in agreement of sale, sale deed etc. and society etc. are the important aspects , which should be scrutinized before making any decision related to property. And other laws and events like Development plans, Regional plans, reservation, objections, updated status of the said events on land records and other government documents like maps etc. , The zone certificates etc. should be scrutinized. The M.R.T.P, Land Acquistion, Registration Act, The Ready Reconer etc. are also important documents, which should be scrutinized before selling or buying the property.
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