Buying a property is a significant investment, and it’s essential to ensure that the property is legally sound before making a purchase. Here are some legal parameters to consider:
1.Title Deed:
Verify the property’s title deed and ensure that the seller has the right to sell the property.
2.Encumbrance Certificate:
Obtain an encumbrance certificate to check for any legal claims, mortgages, or liens on the property.
3.Land Use:
Verify that the property is zoned for the intended use and that it is not designated as government or public land.
4.Building Approvals:
Check that the building has the necessary approvals and permits from the local authorities.
5.Tax Clearance:
Ensure that the property has no outstanding property taxes, water taxes, or electricity bills.
6.Sale Agreement:
Ensure that all legal agreements are in writing and signed by both parties.
7.Legal Opinion:
Seek the advice of a lawyer or real estate expert to verify all legal requirements and procedures.
By considering these legal parameters before buying a property, you can protect yourself from legal issues and ensure that you are making a sound investment.
