Property and Document writing

1) What is a document to a property?
A document is a written form of one’s interest in the property. If suppose one person purchases a property he has to get it in writing form the person who wishes to sell the property. Only then he can become the owner of the property.

2) Why do we require a document for the property?
Property Document is the evidence of the transactions that takes place while purchasing a property or taking up a property in mortgage. Ordinarily there can not be any evidence against the contents of a document.

3) How many kinds of documents a property may have?
A property has 2 kinds of documents. They are
i) Title Document ii) Parent Documents

i)Title Document : Title Document is a document under which the owner of the property purchased it. When we purchase the property, the document under which we purchase would be the title document for us.

ii) Parent Documents: Parent Documents are those documents that shows the history of the property and the genuineness of the sellers ownership over the property.

4) What particulars does a document contain?
The document should specify the date on which the document is written and signed, the consideration for the transfer of right in the property, complete details of the seller and purchaser and other terms and conditions mutually agreed upon.

5) What is a transfer of Right in a property?
A transfer of Right means a change in the ownership or the usage of the property. A transfer occurs when a property is mortgaged, gifted, sold or partitioned or subjected to performance of any obligation by an other person, each of these events have their own unique features imparting certain restriction on the owner of the property and therefore have specific terms and conditions to be agreed upon mutually.

6) When a property is sold to whom holds the property Document?
It depends upon the extent of the sale. If the whole property is sold then the purchasor has the Right to hold the parent documents. If only a portion is sold, the seller holds the documents. If a property is sold in several portions to different purchases then the holder of the portion of larger value holds the documents.