Sale Deed

Description

Documents required for a sale deed:

The sale deed is the most important piece of paper required for a property purchase. It has to be produced in original as it established the ownership of the title of the property.

The extract-It is an essential document for the registration of a new property. It is also needed if you want to transfer the ownership of the property at a later stage.
General Power of Attorney-This document is required to verify whether the sale or purchase of a particular property is being done. It is made by an established person on behalf of the owner of the property. The original document must be given for getting a home loan.
Copy of Building Plan- A buyer must get a copy of the building plan approved by the statutory body. This is to state that the structure of the property is legal and is made according to the set of rules and regulations.
No Objection Certificates- There are as many as 19 NOCs that have to be acquired by a developer from different authorities while building a housing project. However, the number varies based on state rules.
Allotment Letter- It is required for getting a home loan. It is issued by the developer or the housing authority member. It states the description of the property and the details of the amount paid by the buyer to the developer. The allotment letter is given to the letterhead of the authority while a sale agreement is documented on a stamp paper.
The sale agreement-It includes all kinds of documents, terms, and conditions, the possession date, the payment plan, the specifications, etc.
Possession Letter-This document is presented to the buyer by the developer. The original copy of this document should be presented.
Payment Receipts- Collect the original payment receipts from the developer if you are buying a new property. If you are buying a resale property, request for a copy of receipts from the seller to be given to the bank.
Property Tax Receipt-Property owners have to pay taxes. Ensure that the previous owner had paid property taxes and there are no pending due. It helps in providing the legal status of the property.
Encumbrance Certificate-It is expected to declare that the property does not have any pending legal dues or mortgages.
Completion of Certificate-These papers establishes the fact that the building is constructed according to an approved plan.
Occupancy Certificate-It is confirmed by the local authority to the developer to establish the building. It is done to check whether it is finally ready to be occupied and the construction has been done according to the plan approved.