Purchase of immovable
property comprises various steps, broadly categorised as post and
pre-registration. Here are few measures the purchaser is required to take after
purchase of the property in Bangalore, Karnataka, India.
1. Obtain original
documents of title from the seller and compare them with the copies which you
had scrutinised through your advocate.
2. Inspect the property a
day ahead of sale deed registration. Make sure that the property is as per the
terms of the sale agreement.
3. Apply for updated
encumbrance certificate with the sub-registrar office on the day of
registration. Such encumbrance certificate should contain the registration
details of your sale deed.
4. Purchaser should obtain
possession of the property in terms of the sale agreement. The seller should
completely hand over possession of the property and the purchaser should
receive all the keys of the property at the time of registration.
5. The purchaser shall
verify that all the taxes, statutory payments in respect of the property
including power, water charges are paid up-to-date. Purchaser must collect all
the paid receipt and verify the same with concerned offices. Power and water
supply agencies collect deposits from the consumers, so you must collect such
deposit receipts from the seller.
6. After completion of the
registration of the sale deed, the purchaser should ensure that the khatha of
the property in the records of the local bodies, gram phanchayats or the city
corporation is transferred to the purchaser name.
7. Purchaser to ensure that
the duly filed application for khatha transfer has been signed simultaneously
while singing the sale deed. This will avoid unnecessary disputes and
complications at a later date.
8. Khatha application with
a sale deed copy is to be filed with the respective local bodies against
acknowledgement. Local bodies transfer the khatha into the purchaser name on
collecting a transfer fee, generally two percent on the stamp duty paid on the
sale deed and issue written confirmation of transfer in the name of the
purchaser.
9. The water and power
connections installed are required to be transferred to in the name of the
purchaser. Obtain a letter from the seller addressed to the respective
authorities to transfer the connections, including the deposit paid to the
purchaser name.
10. In case of a vacant
site, the purchaser should put up a display board that he/she is the owner of
the property and the trespassers will be prosecuted. It is good to fence the
vacant site. Periodical visits to the site are a must to detect any
encroachment.
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Prepared by: S. Hemanth
Advocate at Hemanth & Associates
For Suggestions and information email legal@hemanthassociates.com
