Legal Verification of a property is an important step in

the processing of a home loan.

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 Banks usually make a careful study into the details of a
property before approving a home loan. They scrutinize
all the documents provided by the home loan seeker.

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 For the convenience of their customers, owners of some
properties or ventures get the approval from certain banks
to make the loan process easy.

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 In other cases, home loan seekers have to collect and
provide all the required details to a bank by themselves.

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 For this, one should be should be aware of the entire legal
verification process and support it for a clear and
marketable title over the property that he/she intends to
buy.

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 Banks will thoroughly go through all the documents of
the property submitted by a home loan seeker.

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 The panel advocates then send the documents to the
concerned sub-registrar office to get the search report and
details of the documents.

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 If they find any discrepancy in the search report, they will
ask for further clarification or for some additional
documents to complete the legal scrutiny process.

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 Hence, prior to going for a home loan, it is advisable to
make a careful study of all the documents of the property
as it saves your time; also you will have a clear idea about
the legality of the property.

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 Owning a house is certainly a difficult task but it is a life
time achievement.

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 Hence one should not hesitate in spending a small amount
in legal verification of the property that he/she intends to
buy.

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 The following are few important tips that help you to get
a clear and marketable title over the property that you
want to acquire

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 Before acquiring a property, go to the concerned sub-
registrar office and apply for Encumbrance Certificate
(EC) recording all sale transactions over that property for
the last 15 years.

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 Apply for Certified copies of all the documents to get the
details of the previous executors and executants.

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 Read all the registered documents to check whether there
have any mortgages created over that property.

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 Check all the registered documents to know if there are
any unsolved legal proceedings over that property.

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 If the present vendor is not available then check with the
legal heirs of the property.

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 Apply for a Land Use certificate in the Urban
Development authority to get the details and survey
numbers and usage of the land.

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 Check if the layout is approved from the concerned
authorities in case of a plot.
Estimate the property with the Government-approved
valuers in the market.

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 Check and verify the dimensions of the property.

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 Get a legal scrutiny report from an advocate before going
for a home loan even if the property is already approved
in the bank.

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 Take all the original documents from the previous vendor
once the property is registered on your name.

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 Take an affidavit if any spelling mistakes are there in the
name of the vendor when compared to the ID proof.

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