If you're thinking about purchasing property, one essential step to avoid legal issues is conducting a title search. This process ensures the property in question has a legally sound title. A title search involves reviewing public records to verify legal ownership and identify any claims or liens on the property.
Title Search Process
Accessing the records needed for a title search can be done at the sub-registrar's office of the municipal corporation. However, the digitization of public records by the Government of India has simplified the process. By examining the title deed, you gain insights into the property's size, boundaries, location, ownership history, outstanding claims, disputes, previous sale prices, loans, tax dues, and any restrictions.
To conduct an online title search, visit the official land record website of the respective state (e.g., Bhulekh in Delhi, Bhulekh Mahbhoomi in Maharashtra, Patta Chitta in Tamil Nadu). Navigate to the ‘Citizen Services’ section, enter the property’s location details, and click ‘Submit’ or ‘View’ to access comprehensive property title information.
Why is a Title Search Necessary?
Conducting a thorough title search before investing in property is crucial for several reasons:
Verification of Ownership The title deed confirms the current legal owner of the property, ensuring the seller has the right to transfer ownership to the buyer.
Identification of Liens and Encumbrances The title deed reveals any existing liens, such as unpaid mortgages, taxes, or contractor liens. This allows the buyer to demand their settlement before completing the transaction and transferring the property.
Detection of Legal Issues A title search uncovers potential legal issues, such as boundary disputes, claims by heirs, or fraudulent deeds, allowing them to be resolved before ownership is transferred.
Easements and Restrictions The process informs the buyer of any limitations or obligations, identifying easements (rights of others to use the property) and restrictions (limitations on use).
Protection Against Fraud Verifying the authenticity of property records and the seller’s ownership helps protect the buyer from fraudulent practices and forgery.
Title Insurance A title search is required to obtain title insurance, which protects the buyer and lender from financial losses due to title defects or challenges to legal ownership.
Lender Requirements Most mortgage lenders require a title search and insurance to protect their investment, making it a mandatory step in the home-buying process.
In conclusion, conducting a title search is a vital step in purchasing property. It ensures that the title is clear and protects the buyer from potential legal issues, providing peace of mind and security in the transaction.
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