Lost your property documents? Here is the list to get it back....
Procedure for getting duplicate papers of property when you lose them
Missing documents play a vital role especially in sale and purchase of
property transactions. Selling a property with a missing paper is not an
easy task. Therefore, you should be clear about the options available
to you. A person doing a property transaction will have to get the
duplicate documents and also shell out extra money. Here are the steps
required to get the duplicate papers for your property:
1. File a police complaint immediately
Whenever you come to know about loss of certain papers either by you or
bank, you need to file a police complaint as soon as possible. FIR
should be made only by the owner of the house and it will be stating
that the papers of property have been misplaced, lost or stolen. Take
the copy of FIR; hold it safely with you as at the time of sale, buyers
may ask for that as well.
2. Publish an advertisement
Once you are done with the FIR, you need to publish an advertisement in
an English daily newspaper and also in any regional newspaper about the
loss of property documents. Then you have to wait for next 15 days as
it might be possible that somebody finds it and returns it within the
limited time frame.
3. File an application for share certificate
Now, on the basis of your FIR, you can file an application for share
certificate from the society. The authorized Resident Welfare
Association (RWA) calls a society meeting and checks your proof (FIR) of
loss. If your application gets approved, the housing society will
charge a fee and in return issues you a share certificate. Also, ask for
a NOC from them as it plays an important role in transacting further.
4. Register with the notary
Next step is the preparation of undertaking on stamp paper about the
loss of documents of particular property along with the text of
advertisement which was published in newspaper and police complaint
number. Documents will be then attested and registered with the notary,
so that your undertaking becomes legal.
5. Get the duplicate sale deed
The final step is to get duplicate copy of property's sale deed. For
this, you have to deposit copies of police complaint, text of
advertisement, share certificate and the undertaking stamped by notary
to registrar office since all the records regarding property
transactions will be kept in that particular office. Then, you need to
pay the fees and they would issue a duplicate copy of sale deed.
These are the few steps which are required to be taken at the time of
loss of property documents. Although, a good sum of money is required to
go through these steps, but at the end you will get legally proved
duplicate copy of your property. Bank loans are not easily granted on
such property but after the verification of all the documents as well as
FIR, they will provide loan once they find the documents authentic.
Loans in such cases are at the sole discretion of the bank.
Do remember that if you keep the documents in bank and they are
misplaced, you can claim compensation from the bank. It is a basic duty
of the bank to preserve your credentials, if not, they can be penalized.
