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 subregistrar 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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