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We normally need to know the documents which are always attached to such requirements. There for we may learn how important is to hold a contract until documents are clean.
Yes, this is very important ......Must verify ownership documents have the owner ....In order to prevent fraud styled
Yes, you must check the ownership of the property for decades
it is very important to have the property documents whtted by a well versed counsel.
As a bonafied company with proper do and dont's while purchasing a property or even while trying to have place on lease must do a due diligence exercise vis a vis authenticity of the place being released and to ascertain if the property is legall held by the claimants and if the building construction is as per the approved plans and does not contain any illegal portions.
when a place is bought or taken on lease for a given period, accrding to ones infrastructure needs, usually cosiderable amounts of money is spent on interiros and installation of needed gadegets and equipment. If the property papers are not order and lease is leagally registered one may be evicted or asked to leave the premises before the agreed lease period. in suuch a case the monies spent in doing the interiors and eqipent installation etc will be wasted. if one holds a validated and varifed property and the lease is a registered one then one's interests are safe gaurded.
Aslo in order to carry on a legitimate and authorised business it is important to be housed in a perfectly verufied legally constructed building with all sorts of permisiions and licences to do business.
This is part of the risk management activity and a very essential part of running a business.
as a resoinsible business entity, it is your responsibity to utilize only the legal property with all licences and compliant safe building. water, electricity, environmental clearance if needed, and fire safety clearance etc etc are a must. an illegal construction is not entitled to recieve even thesefacilities
IT IS IMPORTANT TO VERIFY THE PROPERTY DOCUMENTS AND RENTAL CONTRACTS ETC. THERE COULD BE HIDDEN COSTS NOT CONSIDERED EARLIER . ONE MAY HAVE TO BEAR EXTRA COSTS IF VERIFICATIONS ARE NOT CARRIED OUT.
A LEGAL COUNSEL SPECILAIZED IN PROPERTY TRANSACTIONS NEED TO BE INVOLVED.
It is the basics of selling to verify these documents.
As one of my former law professors said: When some one buy a pair of shoes, he is doing a check on how it looks, how it feels and so on. And is only for a minimum amount of money and a short time usage. When you deal with a real estate issue, be sure to do all the necessary check because can affect your life more than a pair of unfitted shoes.
It is very important to verify and check them.
