To prevent any property-related legal or financial problems, a property title search is conducted during the 12-13-year time period. This is a mandatory check that has to be done by all property owners to safeguard their property. This title check is a necessary document check for anyone who is looking at buying or selling property.
Definition of real estate property title
A real estate title is a legal document that establishes the property owner’s identity and rights.
When is a private property title search done?
A private property title search is done after 12 years to know if there are any encumbrances with the property. This is done to assure the new owner of the legality of the property. If problems are discovered, the buyer may ask the seller to rectify them before investing.
What does a title search report consist of?
- Current owner’s name
- Past ownership details of the property
- Encumbrances, if any
- Any other property-related information that can impact the property ownership
Findings of property title search
- Ownership: It will check government records and establish the ownership of the property. This will help in selling the property.
- Legal problems: If the property title is verified and the buyer finds a problem, it can be asked to be rectified. If that is difficult then the buyer can avoid such a deal.
Who can claim property after 12 years?
In India, if a tenant stays in a property for 12 consecutive years without the owner’s permission, they can claim ownership legally, if the owner does not take legal action. This is known as adverse possession.
Housing.com POV
It is important to follow the protocol and validate the property title after 12 years for property owners so that they can rest assured about the safety of their property. This is imperative because properties are expensive and take up a person’s life savings. In case the report shows any concern, one should seek legal help to sort it out.
FAQs
When is title verification done for private property?
For private properties, title verification is done in a 12-13 year period.
When is title verification done for public property?
For public properties, the title verification is done in a 30-year period.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
