NRI Property Documentation Lawyers – Guiding you through property documentation
Property can be defined as movable and immovable assets of considerable monetary or emotional value to the owner. Property can be further branched into Real property and Personal property. Real property is a term used for the immovable property, i.e land, including anything that is over the land, like a house, crops, building etc. It also includes anything that is under the possessed land, like oil or minerals. Whereas Personal Property is a term, used for movable possessions of an individual or a group of individuals. It comprises of tangible property like jewellery, furniture, vehicles and intangible property like bonds, mutual funds, stocks, intellectual property etc.
As we all are well aware that to have a lawful possession of any property, be it real or personal, one must have with him all the necessary documents. These documents not only corroborate his legal right of the property, but are necessitated for tax purposes, and in case of the sale agreement.
The sheer importance of having all the property documents in place makes its inevitable to avail the services of an expert legal professional. In case of NRI’s, it becomes all the more important as they are usually not well aware of the laws and the ways of the land. The expert NRI property documentation lawyers will make sure that the documentation of the property in question is up-to-the-date before the purchase and is updated afterwards as well.
They say, precaution is better than cure, and it applies pretty well in legal matters as in the medication.
Legal procedures can be lengthy and tiresome, but litigation processes are cumbersome and stressful. Once you hire NRI property documentation lawyers, you may leave the legal hassles to him/her. NRI property documentation lawyers are the specialists, who have in-depth knowledge of the whole transfer procedure. NRI property documentation lawyers know what all documents and information must be put on the table by both the parties to reach a profitably satisfied deal.
Some of the documents that your NRI property documentation lawyers will talk about for the smooth transfer of property are:
Title Deed – Title, here, means the ownership. A title deed also called sale deed, or mother deed, it is a document that establishes the transfer of the ownership rights to the person. The owner must have the original deed documents to prove his rights. Also, the deed must be registered with the local registrar within 4 months of the transfer of the property rights, for the lawful possession. A NRI property documentation lawyer is the specialist who will make sure that the title deed includes every minute details that is mandatory.
RTC Extracts – RTC Extracts are not mandatory for every land must but are required in case the proposed land is a converted land. It means, that the land will now not be used for the originally authorised reason, e.g conversion of land to non-agricultural from agricultural land. The NRI property documentation lawyers know which land will require RTC Extracts and from where to avail them relieving you from running post pillar to get the certificate.
Khata Certificate – ‘Khata’ is a Hindi word meaning ‘an account’. A Khata Certificate is the entry of the property and its current owner in local municipal office. This document assures that the property is legal and is constructed according to the approved layout plan. The original Khata certificate, issued by the concerned authority is mandatory to obtain trade license and other business approvals.
Agreement of Joint Development – This is an agreement between two parties to carry out a joint development project, where one party, namely landowner, accord the land whereas the other party, called the builders or developers, will carry out the development project. This agreement establishes the extent of the right of both the parties, on the developed land. If you are the landowner, it will be in your best interest to hire the services of NRI property documentation lawyers to draft the agreement to have your rights protected and served in your best interest.
Approved Building Plan – Whether you are a developer or the landowner, it is advisable to include the approval certificate of the building plan in your property documents. It will help you avoid any unfortunate encounter with the govt authorities in future. Here also, NRI property documentation lawyers will come to your aid in obtaining the approval.
No Objection Certificate – It is a certificate issued by the concerned authorities, like the electricity department, water supply department, fire and safety department etc. This document ensures that all the necessary govt approvals are in place. Before the purchase of property, it is mandatory for a buyer to check this document for it not only covers with government regulations but also deals with the basic requirements of our daily life. NRI property documentation lawyers will complete all the paperwork required to get the certificate.
Ratification Deed/Supplementary Agreement – In certain situations, it becomes obligatory to change the principal clause of the mother deed. Such changes can be executed only through a supplementary agreement, called Ratification deed. Before the purchase of property, the buyer must check whether any ratification deed has been arrived on by the past owner to avoid any unpleasant situation in the future. NRI property documentation lawyers will check for any supplementary agreement that may have occurred and might affect your ownership status.
Payment Receipts – Payment Receipts in its original form are mandatory to prove that the buyer has made the payment for the property, according to the prior agreement. These receipts will offer you the legal protection in case of fraud. Your NRI property documentation lawyers will make sure that the receipt is according to accepted norms of the law for evidence.
An efficient NRI property documentation lawyer will assist you through entire documentation process, making sure every document is up to the mark according to the law of the land. NRI property documentation lawyers will assist you in securing your dream property, without requiring you to worry about the lengthy and tiresome legal procedure.