How to get the property with a clear and marketable title.
You know that During the process of acquisition of property taking a legal opinion is an important constituent of the due diligence exercise. You must know about this that Legal opinion is the opinion given by a legal expert on the property transaction. the knowledge of individuals on the nitty-gritty involved in the property acquisition is limited. property acquisition is a complicated process. there are a number of laws, rules, and regulations in property transactions. According to us an ideal and reliable source of legal opinion is an advocate who specializes in property matters. getting the legal opinion is all the more important in case you are planning to purchase an old property, which is a property from an existing owner rather than a property developer or builder. there may be many issues. the property may be held jointly, are the seller may not have proper title or authority to sell the property. the property may have already been sold by the seller or it may be a cumbered, that is a charge already created on the property. it is difficult for individual purchases to checkout on all these areas. as such it is better to take the services of an expert in the matter. although a purchaser can do an initial review of the documents checked by legal experts. scanning true property documents is a complex process. land records are generally in a local language. and we know that the purchaser needs to go through a number of documents to trace the ownership of the property to real information. Legal Experts are better places new and give their opinion on the status of the property. they can be asked to prepare a search report.by the search report can traces the history of the property, that is the original owner of the property were and how the property has been transferred over time before reaching the present seller. it also traces out and charges or encumbrances created on the property and the present status, that is whether the charge has been paid and the property released or if there are some charges pending. a seller should I next to a copy of this report to the agreement for sale with the intended purchaser of the property.according to us it would be stated whether or not there is an existing mortgage, litigation, condition for the claim, which is likely to affect the title of the buyer adversely. in case you want to avail housing loan,& the title of the described or involved property should be clear and marketable, that is the seller should be the genuine and actual owner of the property. also, that the property should not be under any kind of dispute or litigation search report and title certificate can be obtained from an advocate who will conduct a survey of the title of the property by visiting the office of the registrar or officer bound. legal opinion reduces the chances of getting into a dispute at a later stage. it acts as a safety device for purchasers.