FLAVOUR OF THE MONTHduring the purchase of the
property. Encumbrance's
means charges on the owners
or liabilities created on a
property that is held against a
home loan as a security. It's the
main document especially
required when you procure a
loan against property. This
certificate states that the
property is free of encum-
brances and loans. With resale
of the property, the new buyer
should see the Encumbrance
certificate stating all the
transactions since the
purchase of the property. That
confirms that the title of the
property is still with the seller.
How do you get an Encum-
brance certificate? To receive
an Encumbrance certificate
you need to submit a copy of
sale deed, fill a Form 22, affix a
non-judicial stamp and submit
it to the jurisdictional sub-
registrar's office. Complete
residential address, property
survey number, property
location, property description,
the sought period, its measure
ments and boundaries should
be mentioned in the Form. A
nominal fee amount will be
charged on a yearly basis. The
time taken to obtain an EC will
be between 3-7 working days
or more depending on the
period sought.
D. Receipt of Property Tax:
It's a record of the taxes paid by
the previous owner. It helps in
proving the legality of the
property by the owner
otherwise the buyer cannot get
a Khata issued on his/her
name. If the property comes
under any jurisdiction, the
property taxes have to be
settled by the seller. The buyer
needs to be in contact with the
municipal authority to check
the relevance of the seller with
regards to payment and
ownership title. The buyer
should ask for the latest
original tax paid receipt along
with the bills like the water bill,
electricity bill etc. to verify the
name of the owner as well to
check whether they are paid
up-to-date.
E. Khata certificate:
Khata is termed as an account
of the property owner. Both
Khata certificate and Khata
extract documents are