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What Documents Are Required for Legal Scrutiny?

When undergoing legal scrutiny for property transactions, certain key documents are essential for ensuring that the property is free from legal issues. Here are the primary documents typically reviewed during the process: 

Title Deeds: These are crucial documents that establish the ownership of the property, confirming that the seller has the legal right to sell.

Land Records: Maintained by the government, these records track land ownership and any related transactions, ensuring a clear history of the property.

Encumbrance Certificates (EC): These certificates verify whether the property has any outstanding legal issues or encumbrances, such as mortgages or liens.

Building Approvals: Documents confirming that the property was constructed in compliance with local legal standards and regulations.

No Objection Certificates (NOCs): NOCs verify that there are no legal objections to the property or its intended use.

Commencement Certificate: Issued by the local authority, this certificate grants permission to begin construction on the property.

Occupancy Certificate: This document, also issued by the local authority, confirms that the property is safe for occupancy.

Builder-Buyer Agreement: This contract outlines the terms of sale between the builder and the buyer, ensuring both parties are clear on their obligations.

Legal Scrutiny Report: After reviewing all the above documents, the legal team prepares a detailed report for the lender, highlighting any potential issues or concerns that may affect the property's legal standing.

By thoroughly reviewing these documents, lenders ensure that the property are considering is legally sound and free of complications.