Legal aspects to consider while buying a home

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There are many buyers who are unaware legal complications and issues that might arise later when due diligence isn’t done.

Here’s a quick guide to a few legal aspects that buyers must look for before buying a property.

The foremost thing that one should look for while buying a home is whether the property has a clear and absolute title. Employing legal experts to look into these aspects is perhaps your best bet. Most of the banks and financial institutions that provide home loans have their own legal teams to work on it. In fact, it is the very first step when it comes to home loan processing.

Even if you have a legal team look into all the requisite aspects for you, a basic know-how of the process is important and will help you understand anything that the lawyers may explain to you. Read on to learn as to what are the things that should be considered from a legal stand point while buying a property.

After the title documents and mother document are verified, you should look for the Khatha certificate. Khatha deals with deviations in the property and an ‘A’ Khatha certificate is awarded to a land that is free of deviations. You will then have to look at the Encumbrance Certificate or the EC to check if the land is in fact registered to the person who is claiming to be the owner. Once these are through, there are a lot of No Objection Certificates from various Government authorities that are mandatory for construction.

In case you are planning to buy an apartment or flat for sale in Bangalore, there are about 10-13 OCs that need to be obtained from various authorities such as BBMP, BDA, Police, BESCOM, BWSSB, Fire Department and so on to ensure that the project plans are in order. These approvals are essential as they are also instrumental in obtaining the final Occupancy Certificate (OC) from BBMP.

A Khatha, NOCs and absolute titles are the most important things that you should look for while buying a property.

NBR Group are famed for the legally clear properties and A Khatha land and most of their buyers go in for home loans. Since all the projects from NBR Group are approved by most leading banks, buyers find it easy to avail home loans. NBR’s projects across Bangalore such as NBR Green Valley, NBR Hills View, NBR Trifecta, NBR Golden Valley, NBR Wind Chimes, etc. are known for their clear legal titles and there are no deviations in the project. Thus, OC is surely obtained for every project much to the relief of most buyers!

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