The property may be registered solely in the name of the spouse buying the property upon submission of a. Buying a property can be one of the most stressful things in life and at countryside estates we strive to ensure the process is as stress free as possible. Under the transfer of property act and maharashtra ownership flats act introduction. This guide sets out essential information for british nationals wanting to buy property in spain, including advice on legal advice, buying in certain.

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In law, conveyancing is the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. What do i need to know? when buying a commercial property, make sure you’re clear on what you and your business need before. Joint property ownership can be a great solution for people who want to own a home, especially for first time buyers. When buying a new property, legal due diligence is essential to avoid getting entangled in legal issues later. Home buying advice your step by step guide to buying your perfect home, from calculating your budget to moving in. This guide is made up of seven sections so you can dip in and out of the most relevant for you.

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Buying a property is a big step involving a substantial long term financial commitment, so think hard about what you can afford. It is vital to secure a mortgage with a lender before starting the searching process. Make sure you know all there is to know in order to choose the right mortgage for you. From transport links to the number of bedrooms, we can help you create a comprehensive list. So it 39 s essential you know what you 39 re looking for before you arrive and ensure you remember everything after you leave. Once you have found your ideal property, be prudent and tough in negotiating know the best possible deal to give you confidence through the final stages of the buying process. We put the key steps in plain english to help you along your way from offer to completion.

Moving is always a stressful time, but being organized is the trick to minimize your stress levels and making your new home feel like home in next to no time. You can also engage a lawyer to carry out due diligence, but as a smart buyer, it's best to pore through the documents yourself. Here is a checklist of documents that you should peruse before signing on the dotted line. projects under construction the first thing one should do in the case of projects that are still under construction is to make sure that the builder has all the necessary approvals in place, without which it would be considered illegal. We have often come across cases where projects have been stalled midway due to lack of proper approvals. Hence, i would never advise to go for a booking unless you have taken a close look at the key documents, says ramesh vaidyanathan, partner, advaya legal, a mumbai based commercial law firm. Builders need to get government approval to convert agricultural land or even land specially designated for industrial purposes into a residential area.

If the builder has gone ahead without securing this approval, the entire project is illegal. For instance, the builder has to ensure that his project does not interfere with the urban and town planning, and that it has unrestricted road access. Next, you need to find out if the builder has the authority to transfer the undivided share of land to each flat owner and the entire plot to the society, on completion of the project.

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A knight frank research report on 'parameters for buying a home' mentions that you should also ensure the builder does not reserve any right on your portion of the apartment, such as balconies or terraces. Lastly, never forget that there's many a slip between the blueprint and the final product. The developers tend to charge a premium for additional features, such as a swimming pool or designer furniture.

However, unless you ask the builder to incorporate all the promised features in the agreement and make provisions for penalty in case of non fulfilment, you stand on shaky ground. Any sample flat that was shown to you would be demolished long before you obtain the possession of your house, leaving you with little evidence if you decide to drag the developer to court. Also, watch out for the fine print: builders may slip in a clause in the agreement, stating that they reserve the right to alter any of the promised features. To be safe, take a look at the approved construction plans and ensure if they match what has been promised to you. Ask the builder to show you the requisite permits from the concerned authorities. While the approved construction plans have to be mandatorily displayed at the construction site at all times, all the important approvals should be available at the builder's office.

Under the transfer of property act and maharashtra ownership flats act, a seller is required to disclose all facts relating to the property, which includes the various permissions secured by him. In case a builder refuses to do so, a prospective buyer has recourse under the same acts. However, if any of these documents is missing or the builder refuses to show them to you, it is best to stay away from the project, warns vaidyanathan.

In addition to these documents, you should also take a look at the commencement certificate for projects in mumbai. As the name suggests, this certificate is given to the builder to begin construction only after he has obtained all the requisite clearances. independent home owner as a primary rule, check and verify if the seller owns the property and has a right to dispose it of, says jain. In case he is a joint owner, he cannot sell the property without the consent of the other owner s. If you are purchasing a flat in a housing society, ask for the original share certificates. To double check, you can peruse the telephone and electricity bills as they are always issued in the name of the legal owner.

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Alternatively, you can check the housing society maintenance bill, which contains the owner's name and property tax details. Elizabeth weintraub has an extensive background in real estate spanning more than 30 years, including experience in related industries such as title and escrow. She is a full time broker associate at lyon real estate's midtown sacramento office and is recognized as a top producer. She is also a life member of the master's club, an honor bestowed by the sacramento board of realtors , and ranks in the top 1% of all the agents at lyon real estate. question: after home closing, which documents should i keep? answer: you should maintain a completed file after closing on your home, which means collecting copies of every document that was signed during your transaction with the seller.