Precautions To Take While Preparing Property Documents
Document writing is a professional's job which requires expertise and thorough diligence. Whether you are a buyer or a seller, it is important to take precautions while framing a property document.
PropGuide tells you what precautions to take while drafting property documents.
Thoroughly check the particulars of the parties
The names of the parties concerned are material part of the document. Therefore, names should be correctly recorded in the document. To ensure this, verify the names from academic records, passport, or Aadhaar card to get the correct spelling (names) of the parties. If a person's name is recorded differently in different records, mention the different versions of the name as alias.
If a woman name is recorded as the daughter of a person in one link document and in another document it is recorded as the wife of a person, then it is better to record both aspects to avoid any confusion.
Any small mistake will put the parties in trouble as the deed will have to be made all over again. The seller may not be available or his whereabouts may not be known to the buyers. Or the seller may demand additional money or put conditions to execute rectification deed in favour of the purchaser. In a nutshell, it is the duty of the buyer to ensure that the particulars are entered correctly.
Age of the parties
With all the records available, verify the correct age of the parties. Don't put any approximate age. It is advisable to record the true age of the parties concerned.
Profession and addresses
The profession of the parties concerned, their present, and permanent addresses should also be properly documented without any errors. Any vague description of the parties will create confusion. It is important to get it cross-checked by another person to ensure that there are no mistakes.
Link document numbers
It is important to record correctly the link document number, date of registration, sub-registrar/registrar office name, and district name correctly.
You must record the details of money paid in numbers as well as words. This is an important part of the documentation process and proper care should be taken when recording this information.
Cheque or demand draft number
If the amount is paid through a cheque or a demand draft, details such as its number, date of issue, bank and branch and the amount should be properly recorded. Take expert's advice in recording the details of these instruments.
Schedule of the property
It describes the details of the property by mentioning in which village or city the property is located.
It is equally important to correctly spell the district name, the sub-registrar office name, the town survey number, the plot number, the extent of the land, and all the four boundaries of the property. If it is an apartment, it is important to list the entire piece of land on which the apartment is built. Apart from that, flat number, common areas, car parking area (if any) should also be listed.
It is vital to get full particulars of the owners of the adjoining properties rather than mentioning them vaguely such as 'the neighbour's property'. If there is a road along one of the boundaries, then its width should also be mentioned along with its name (if any).
Attesting witnesses play a crucial role in the event of a dispute regarding the document's validity. It is important to have reputed and respected citizens to stand as witnesses. Their version regarding the execution of the document will be very critical in case of any dispute regarding the validity of the document in the court of law. Transfer of Property Act mandates that two witnesses should be present, but if parties wish then more than two persons may be taken as attesting witnesses.
For a foolproof job, give comprehensive and factual information in the document. Don't leave everything on the document writers or lawyers, it's important to actively participate in the documentation process because your stakes are higher.