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Lost Your Property Documents? Read This

Posted by Admin on November, 10, 2013

Buying a property is one of the lifelong dreams of every Indian and it gives immense confidence and sense of stability to the property owner. The proof that one is the owner of a property of lakhs is just a file containing the property documents and the loss, theft or misplacement of these documents is a cause of concern for property owners. No future transactions can be completed without the original sale deed and one cannot claim the insurance without proper documentation as it is the only proof of ownership. What does one do if the documents are misplaced due to reasons such as theft? Getting the duplicate documents should be at the top of the priority list; however, there is a process that should be followed.

Report it: A First Information Report [“FIR”] should be filed with the police by the owner as soon as possible. The report should be a detailed one mentioning whether the property documents have been misplaced, lost or stolen and where were they last seen. The owner should keep the copy of the FIR as even after the getting the duplicate property documents, the FIR should be provided at the time of the sale of the property to showcase the fact that the documents where misplaced once.

Advertise it: The owner should get an advertisement placed in the most popular daily newspaper of the region declaring the loss of property documents.

Undertaking and application: The owner should get an undertaking prepared on a stamp paper about the loss of property documents. The undertaking should mention the details of the property, a copy of the advertisement and the FIR. The undertaking has to be registered, attested and notarised. On the basis of the FIR, the owner can also file an application for share certificate from the residential society. The authorized Resident Welfare Association ["RWA"] verifies the FIR and after approving the application, the society would charge a fee and issue a share certificate. The owner can also demand for a Non-Objection Certificate ["NOC"] as it might be needed in future transactions.

Duplicate deed: To acquire the duplicate copy of the sale deed, the owner would have to visit to the registrar’s office, where the property was registered at the time of purchase. The owner would have to deposit copies of the police complaint, the advertisement, the share certificate and the undertaking stamped by the notary to the registrar office. After all the relevant documents are provided and the requisite fee is paid, the office will hand over the duplicate copy for the property.

Even after getting the duplicate deed, the owner must retain a copy of the complaint and the newspaper advertisement as proof of loss and action taken subsequently.



This entry was posted on November, 10, 2013 at 22 : 41 pm and is filed under Buyers Guide to Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response from your own site.


Comments [1]

Admin

flats for sale in manikonda

December, 30, 2015 at 13 : 35 pm

I am facing some of these issues as well..

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