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(Guest)

Selling house property

I am planning to sell my house property for 15 crores. Fully white money. Buyer is asking for original ownership documents for taking his lawyers certification to proceed for a bank loan for buying my house. Is this procedure safe and prudent or should i take any precautions to proceed further in the matter. 



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 5 Replies

RAKESH ISHI   13 November 2024

You may initially provide the buyer’s lawyer with notarized photocopies of the ownership documents instead of originals. These are generally sufficient for preliminary checks.

Consider using an escrow service or the buyer's bank to hold original documents securely until a formal sale agreement is signed.

It’s prudent to have your own lawyer review the buyer’s requirements and ensure the process aligns with legal norms for property transactions in India.

P. Venu (Advocate)     13 November 2024

Why original? True copies ought to be sufficient.

kavksatyanarayana (subregistrar/supdt.(retired))     13 November 2024

Yes.  You may give copies of old documents and other papers if any.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     14 November 2024

Do not part with the original documents. You can give photocopies of the documents. If necessary go with the buyer to his bank along with the documents and show them to the bank officer. Your signing the transfer deed and handing it over along with the documents and receiving payment should all take place simultaneously

Dr. J C Vashista (Advocate )     14 November 2024

Original title documents should be handedover when you receive full and final consideration and execution of documents of sale transaction and transfer of title of the property.

However, for a transaction of 15 Cr it is appropriate that you must (not may) seek professional services of a local prudent lawyer to protect your interest at every stage of the transfer of title.


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