What To Do If The Registry Documents Get Misplaced
Let us take you through a quick real life example of how important registry documents are. Mr. Vijay stayed with his parents. Long ago, his father had purchased a property and managed the overall documents. Therefore, Mr. Vijay barely got the chance to go through the papers. However, his father’s untimely death made him look into the details. And this is when he was left astonished!
He found out that the original share certificate issued to his father was misplaced. Yes you heard that right! He checked the documents only when he needed to convert the property from leasehold to freehold. That’s when he discovered the issue. Prosperty Chennai are aware of such instances that occur and the way about it.
Well Prosperty Real Estate Advisors Chennai have tackled countless situations like these. It is their expertise and profound knowledge that sails them ahead. In this excerpt before we guide you what to do in this scenario, let’s understand why is it so essential.
Importance Of Registry Documents
Registry documents missing is a major no-no! One cannot take this lightly and go to sleep like a baby. Believe it or not, but missing documents play a critical role in the sale and purchase of property transactions. Because selling a property with a missing paper is an uphill task. Only trained professionals from Prosperty Chennai can help you out here.
Remember that they aren’t some ordinary piece of paper lying in your cupboard. They are much more than that! Hence, their value is truly high. You can barely carry out any transactions if you don’t have that hocument in hand. Hence it’s always advisable for you to take recommendations from Prosperty Real Estate Advisors Chennai.
Here’s What You Need To Do
So the next question that arises in your mind: Can one transact or sell a property without theoriginal registry?
Bare in mind that in case of a lost document, you will have to get a duplicate and shell out extra money. Having Prosperty Chennai alongside, you will definitely not face any issues. Here are the steps required to get the duplicate papers for your property:
● File a police complaint
The most urgent and immediate step that you need to do is this. File a formal police complaint about the loss. As soon as you realize about the missing documents, do the needful. Make sure you have a copy of the FIR. This will prove handy when you are executing the sale of your respective property. Having Prosperty Real Estate Advisors Chennai with you here, is indeed a bliss. Later you can apply for a Certified Copy from the sub-register’s office.
● Give A Public Notice
In addition you also need to give a public notice in the newspapers. Make sure you do so in both English as well as regional newspapers. That’s not it. You will also have to wait for a time period of 15 days to check if anyone finds and returns with it. Prosperty Chennai have a team who can assist you 24/7 throughout the journey.
● Application For Share Certificate
Now the next step is to file an application for a share certificate from the housing society. The authorized Resident Welfare Association (RWA) calls a society meeting. Only after your proof (FIR) of loss is verified the case moves ahead. Then the housing society will charge a fee and in return they will issue a share certificate. Make sure you ask for an NOC (non-objection certificate) from them. This is a crucial document to maintain as it plays an important role in transacting further. Prosperty Real Estate Advisors Chennai would know better how to take it forward.
● Register with the notary
All the steps that you go through untill now are aggregated here. Document about the loss of the particular property, the text of advertisement in newspaper and the police complaint number is put together. After attesting them all then the undertaking becomes legal. You can also cross check it with Prosperty Chennai. Then, you need to pay the respective fees. Later they would issue a duplicate copy of the sale deed.
Make sure you are aware that a good sum of money goes in all the following steps. However, at the end of it, your problem will get solved. You will get a legally-certified duplicate copy for your property. Yes, you heard that right! Infact, with the help of, Prosperty Real Estate Advisors Chennai you will have a seamless journey.
Also, if you keep the documents in the bank and get misplaced, then you can claim compensation from the bank. So this is an important point to note. Because at the end of the day it is the duty of the bank to preserve your credentials. Incase they carry out such carelessness then they can be penalized for it. For this, you can also seek legal advice and guidance from a lawyer or Prosperty Chennai.
Hence there’s no need to panic. All you really have to do is approach Prosperty Real Estate Advisors Chennai. They will take you through each of these steps. They will hold your hand in each of the steps and you won’t be alone. Trust them and you wouldn’t have anything to loose!