What are Property Documents, and why should you create them?
Going by the nomenclature, property documents are those legal documentation related to real estate property, such as sale deeds, settlement deeds, gift deeds, lease deeds, partition deeds, etc. At TGC Legal, our specialized team of property lawyers has expertise in drafting or reviewing these documents, scrutinizing them, conducting title searches, and enforcing compliance for a smooth and seamless transaction. We are also real estate business lawyers, experts in negotiating terms and resolving disputes in property-related transactions.
Property documents are crucial not only during the sale and purchase of a property but also to peacefully enjoy the property. They need to be preserved. The documents help to ensure legal compliance and transparency in dealings, The office space rental agreement documents curb the risk of unauthorized and illegal claims. It helps to mediate and resolve disputes, The legal papers safeguard against expensive litigations and loss of money and property.
Essential Aspects of Property Documents
Property documents are crucial during the sale and purchase of a property. They need to be preserved. Its essential aspects are as follows:
- Always confirm the seller holds a clear, marketable title with no disputes or co-owner issues.
- Ensure property registration and stamp duty are fully completed to avoid future legal troubles
- Verify the property aligns with local zoning and land use laws to prevent penalties or demolition.
- Check for mortgages, disputes, or legal claims by obtaining an Encumbrance Certificate and legal clearance.
- Confirm approved building plans and secure a valid Completion or Occupancy Certificate from the authorities.
Types of Property Documents
Our real estate business lawyer/ lawyers at TGC Legal handle diverse types of property papers and analyze, scrutinize, and validate them. Here’s a detailed note on the different property papers needed for a transaction.
Title Verification
Title verification for the underlying property is one of the most significant and crucial parts of the property dealing process. The lawyers at TGC Legal justify the legal ownership of a property through this process of title verification. We also check and validate that there are no pending encumbrances that might impact sales and purchases. TGC legal professionals go through a series of property documents and public records to scrutinize the chain of ownership and analyze the legal status of the property. This process shields the buyers/lessees against fraudulent and unethical transactions where the seller/lessor does not have the authority to perform the transaction.
Agreement for Sale
This is another legal property document that states the terms and conditions under which a property can be sold. This document lays the foundation of ownership transfer through a sale deed. The documents prepared by our property lawyers at TGC Legal are detailed and informative. It comprises information such as the description of the property, payment terms, sale price, mode of payment, condition in which the property will be sold, and the timeline for the closure of the deal. This is a legally binding contract where both parties, the buyer and the seller, agree to follow the terms and conditions.
Sale Deed
The document that states the transfer of ownership from the seller to the buyer is called the sale deed. Popular as a conveyance deed or property sale deed, this document marks the actual transfer of ownership. Our team of professional property lawyers shows expertise in drafting the deed covering all important points. They also have knowledge and experience in verifying the property legally. The ownership history, property history, and cases of legal disputes are thoroughly verified before drafting the deed. TGC Legal also helps the client to register the sale deed at the appropriate sub-registrar's office.
Partition Deeds
This legal document divides the property among legal heirs/co-owners and is called a partition deed. It is a vital document when multiple owners—family members, siblings, or business partners—jointly own a property, seeking a share. TGC Legal makes flawless partition deeds, offering complete clarity about ownership and enforcing the share legally. The deeds also help to resolve disputes among property co-owners. TGC Legal also helps the client to register the partition deeds at the appropriate sub-registrar's office.
Settlement Deed
This is another legally binding document that formalizes gift agreements between family members. TGC Legal also frames these deeds to resolve disputes over property share and ownership. Our deeds are well-drafted and encompass all vital points, such as terms and conditions of settlement and distribution of assets and rights among the family members. TGC Legal also helps the client to register the settlement deed at the appropriate sub-registrar office.
Lease Deed
We specialize in drafting lease deeds—a legal document between the owner/lessor and the tenant. This contract is signed between the landlord or lessor and the tenant or lessee, stating the terms and conditions of the rental of the property. We ensure that the rights and responsibilities of both parties are clearly stated in the deed for a transparent transaction. TGC Legal also helps the client to register the lease deed at the appropriate sub registrar office.
Leave and License Agreements
We have clients who seek guidance from TGC Legal in drafting leave and license agreements with respect to an immovable property. With this legal document, a party gets permission to occupy a property temporarily. This document is largely used for residential and commercial rental transactions. This document ensures that the licensee gets permission to occupy the licensor's property for a specific period.
Release Deed
Another legal property document that relinquishes, or releases, interests, claims, and rights of one person in favour of another. We at TGC Legal prepare this release deed to resolve land disputes and to initiate transactions and settlements over property. The party who surrenders the rights and claims is called the releasor, and the party who receives the rights is known as the releasee. TGC Legal also helps the client to register the release deed at the appropriate sub registrar office.
Will
TGC Legal has a specialized band of legal experts who are pros at drafting Wills. These are legal documents through which a person expresses his wishes about the distribution of his property/assets after his death. Our lawyers help clients draft a WILL that ensures proper management and distribution of assets and plans for property inheritance. TGC Legal also helps the client to register the WILL at the appropriate sub registrar office.
Living Will
This is a specialized kind of legal document, expressing the person’s desire for their medical treatment in the future. We draft these documents for clients who think they will be physically and mentally incapable of expressing their decisions in the future.
Power of Attorney
When one person is not able to perform his obligations in a transaction, he can grant the power to a person whom he trusts to perform on his behalf. For eg, if a person is not available to sell his property, he can grant power of attorney to his brother to complete the transaction as if he himself is doing it. TGC Legal also helps the client to register the power of attorney at the appropriate sub registrar office.
Property Documents undertaken by the best corporate business lawyer team | TGC Legal
Property Documents undertaken by the best corporate business lawyer team are as follows:
The Prior Deed traces the historical ownership of the property. It shows the entire chain of transactions right from the beginning, which is crucial for a smooth bank loan process or future resale. Gaps or errors in the ownership trail can cause legal delays and hurdles, so verifying it is non-negotiable.
An Encumbrance Certificate proves that the property is free from financial liabilities like mortgages, loans, or litigations, or rather exposes any encumbrances therein, such as mortgages, sale, leases, etc. It offers buyers peace of mind that the property is not burdened with hidden debts or obligations. Without this certificate, you risk stepping into legal and financial troubles unknowingly.
When buying a constructed property, never skip checking the approved Building Plan. It ensures that the structure complies with local municipal laws and zoning rules. Illegal constructions can invite hefty penalties, or worse, demolition notices, making it vital to confirm lawful approvals.
Recent Property Tax Receipts, office space rental agreement, and utility bills (water, electricity, sewage) reflect that the property has no unpaid dues. A property with pending bills can lead to legal complications with municipal authorities later. It's important to ensure the previous owner has cleared all taxes and service payments.
It is important to check the Possession Certificate and Occupancy Certificate, especially for newly built properties. The Possession Certificate verifies that the builder has legally handed over the property. The Occupancy Certificate, issued by local authorities, confirms that the building is fit for living and constructed per approved plans. Without these documents, you may face issues including the denial of essential utilities like electricity and water connections.
Why Choose TGC Legal for Property Documents?
TGC Legal has a team of dedicated property lawyers who have unmatched expertise in drafting property papers, helping with registration, and closing the deal.
We specialize in drafting various deeds and documents. From lease, sale, and purchase deeds to agreements of sale, transfer, and partition deeds, everything is our strong forte.
We have expertise in the verification of properties and their documents. We conduct due diligence before initiating any deal.
We are experienced in litigations, arbitrations, and mediations to suggest a favourable resolution for the clients.
We have knowledge and experience in conducting property document registrations.
For any property documentation work, registration, and stamp duty, lawyers at TGC Legal are the best and one-point contact.
Get In TouchEssential Aspects of Property Documents
Property documents are crucial during the sale and purchase of a property. They need to be preserved. Its essential aspects are as follows:
- Always confirm the seller holds a clear, marketable title with no disputes or co-owner issues.
- Ensure property registration and stamp duty are fully completed to avoid future legal troubles
- Verify the property aligns with local zoning and land use laws to prevent penalties or demolition.
- Check for mortgages, disputes, or legal claims by obtaining an Encumbrance Certificate and legal clearance.
- Confirm approved building plans and secure a valid Completion or Occupancy Certificate from the authorities.