What are to be checked before purchasing a flat from a member of a society?

By Accommodation Times News Service

By Chhaya Dhuri

The purchaser has to verify and satisfy as to various aspects relating to a flat before the ventures into purchase a flat in a cooperative society from any member of the society. The following have to be checked:

  1. Whether the seller is the member or POA holder?
  2. Whether the seller is sole owner or joint owner?
  3. Verify the title documents of the flat i.e. allotment letter, possession letter issued by the society in case of member. In case of POA besides the title documents of the original member verify the agreement to sell and the GPA.
  4. Whether the flat is mortgaged with any bank or financial institution?
  5. Is there any charge or loan against the flat?
  6. Are there any outstanding dues from the seller to the society?
  7. NOC from the Society
  8. Is there any disputes in any court regarding the ownership of flat.
  9. Ask for the certified True Copy of the agreement through which the seller has acquired the right, title and interest in the property.
  10. Ask for the certified True Copy of the Share Certificate.
  11. Ask for the certified True Copy of the Electricity Bill.
  12. Ask for the certified true copy of the last maintenance bill and receipt issued by the society for the said flat.




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