No thanks to the rise in the incidences
of fake property papers and unethical businesses, prospective home
buyers need to be extremely cautious and cross check relevant papers
before taking a call on a property. Property papers are very important,
especially when buying or selling a house. However, if, unfortunately,
you lose your property papers, it is imperative you know what to do to
avert disaster.
One can sell one’s property even after
losing all the papers. One only needs to find relevant solutions, with
the procurement of duplicate property papers being the final solution.
In case original property papers go missing, it is highly advisable to
obtain duplicate papers, which are especially vital, in the case of home
loan applications.
Procedure to be followed in case of loss of papers:
File an FIR
Before applying for duplicate papers, a
person should primarily file a police compliant regarding his/her lost,
stolen or missing original property papers and obtain the complaint copy
for future reference. An FIR should also be filed if a bank misplaces
documents in relation with mortgaged property. If you are a buyer, it is
your legal right to ask for related property papers from your seller.
Publish an Advertisement
In addition to filing an FIR, a home
owner needs to publish an advertisement regarding lost or missing
property papers in local and English newspapers. Likewise, a buyer can
also put up an advertisement, asking the claimant of the property to
contact him/her regarding the property papers, but within 15 days of the
published advertisement.
Property Registration
A house owner, on the basis of the FIR,
also has the option to apply for a duplicate share certificate from the
housing society. Subsequent to this, the housing society can share this
certificate application in the society meeting. A positive consensus on
this matter can lead to the issuance of a duplicate share certificate to
the owner, after the payment of a certain fee.
NOC is another important document that
both the home owner and buyer are required to possess. In the absence of
this document, it will be difficult for the buyer to get a home loan
from banks/lenders.
Subsequent to the above procedures, a
home owner needs to get an undertaking regarding his lost/missing
original property papers on stamp paper. The undertaking should include
property details, FIR number and a version of the published newspaper
advertisement, along with a letter confirming that all the details given
in the undertaking are correct. The owner should get this undertaking
registered, attested as well as notarised by an attorney.
Procuring Duplicate Copy of Original Sale Deed
A registrar’s office maintains the
archives of all property transactions in its authority. To procure a
duplicate copy of the original sale deed, an owner has to visit the
registrar’s office. For procurement, the owner has to submit police
complaint copies, the newspaper advertisement, share certificate
obtained from the housing society, and also pay relevant charges. Upon
this, a copy of the original sale deed will be given to the owner.
In case the property is old, it is
highly recommended that one obtain a title report of the property
document from the deputy registrar’s office to confirm that the said
property is hindrance-free.
