In layman’s words, a property dispute is a legal discourse concerning properties in India, with the number of cases in the court currently being sizeable. Over an estimated 66% of the matters in court on the above subject are pending to be solved. Given our 1.4+ billion population, the availability of land and the strings attached to it pose a significant challenge to the judicial system. The parties in contention include the buyer, seller, co-owners, and legal heirs.
Before dishing out some valuable tips to avoid such situations, let's find out the reasons that cause such kinds of disputes.
One of the essential steps before entering into any transaction with the seller. A detailed verification is to be carried out by a lawyer or title investigator. Another way to avoid future legal hassles is to see if leading banks approve the property and if no mortgage is attached.
Before purchasing, the buyer could consult the services of an architect who would prepare a site plan. The sanctioned plan often differs from the built-up area, amounting to illegal construction. Another benefit associated with approved site plans is low risk when it comes to delaying or cancellation in the execution of the projects while also helping maintain transparency among the home buyers.
Extra caution needs to be there while purchasing an inherited property. Firstly, ensure that the beneficiary's name is mutated in the government or revenue record depending on the nature of the property. Requisite proof of inheritance is to be provided to the buyer, eliminating all doubts.
The final purchase agreement signing should occur after the stamp paper dates match the transfer paper dates. The title proof should have all the necessary information to avoid future troubles.
Ensure there are no violations regarding the house's structure, layout, and construction. Approvals from the necessary departments are obtained, even in the case of licensing.
There are two ways to go about this: mutual consensus or a legal battle. Nonetheless, let’s look at some ways to avoid property disputes.
While factors like budget, locality, documentation and resale value are crucial during the buying decision process, avoiding property disputes is equally vital for the buyer to live in peace and comfort, saving them resources like time and money, among many others.
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