How to Sell a Property If the Original Documents Are Lost?

Selling an office or a housing property with original property documents is a simple process. Property owners must obtain duplicate duplicates of property documents to continue with the sale. This process involves several vital steps, like visiting the sub-registrar's office and filing an FIR. Continue reading to determine how to obtain duplicate duplicates of original property documents when lost.

Selling A Property If the Original Documents are Lost

Follow these steps if you want to sell a property and your papers are lost:?

File a FIR

When you understand you've misplaced your property documentation, go to the nearest police station and file an FIR (First Information Report). The FIR shall include specific realities, for example, the genuine situation, which might consist of displacement, misfortune, or theft, as well as the location of the incident.?

Upon filing their complaint, they must get a copy of something very similar. The owner must file an FIR even if the property is sold and the bank misplaces the documentation.?

The buyer should request the seller for a copy of the FIR. Given the police complaint, the owner can apply to the housing society for a duplicate share certificate, which can be obtained by applying to the society meeting. If the application is granted during the management committee meeting, the housing society might charge a fee for a copy of the share certificate.

Advertise in newspapers

As already mentioned, the owner should first look for the property papers. To do this, he would have to give an advertisement in at least two newspapers about the deficiency of the property papers, and solicitation to whosoever has tracked it down.?

Write an application

On a plain piece of paper, write about the whole new development, mentioning that the lost or misplaced document couldn't be recovered within a reasonable period. Also, give all the details of the property and attach duplicates of the non-discernible certificate and the newspaper advertisement cuts. While drafting this matter, write an undertaking that the realities mentioned in the application are consistent with your insight.

Related: What If the Seller Sells a Property to Multiple Buyers?

Apply for a Duplicate Share Certificate

If your property is part of a housing society, you'll need to contact the Resident Welfare Association (RWA) to obtain a duplicate share certificate. You'll need to finish up an application and submit the FIR and the newspaper notice to the RWA.?

The RWA will convene a meeting, after which they will examine the documents given by you as proof of misfortune. Also, demand a Non-Objection Certificate (NOC) from them, as this is expected for further transactions.

Register With the Notary Public

The next stage is to prepare an undertaking on stamp paper concerning the deficiency of the property papers, with the text of the advertisement published in the newspaper and the police complaint number.

All the fundamental details of the property printed in the newspaper advertisement should be outlined, and the police complaint number must be mentioned in the undertakings.?

Additionally, the notification must plainly state that every detail mentioned in the undertaking should be declared legitimate. After submitting all the vital documents, the notary will examine and certify the documents upon endorsement; your promise will then be legally bound.

Please submit it to the sub-registrar

Apply to the sub-registrar office, where the property was originally registered. Once the documents are verified, your application will be acknowledged.?

How to apply to get a duplicate copy of the lost sale deed?

• On a stamp paper, write an undertaking explaining the deficiency of the property papers, providing each detail. The undertaking should mention every detail about the owner and the property along with the police complaint number.
• Attach the duplicates of the newspaper advertisement with the undertaking.
• Don’t forget to attach a copy of the police complaint.
• Get this undertaking attested by an approved notary.
• Any other evidence that proves your ownership of the property.
• Submit it at the sub-registrar's office where the property was registered.

Take Note, Buyers

• While collecting duplicates of your lost property paper requires some cost and time, it is as yet beneficial since you will wind up with a legally certified copy of your property's selling deed.
• Remember that loan endorsement is solely at the discretion of the bank. All in all, it's always smart to keep your property paperwork safe.

Buyers are prescribed to get a bank loan to procure these homes. First, the bank's lawful staff will verify property-related paperwork, including police complaint records. It will next really look at the document's legitimacy. Any fees incurred because of the additional paperwork or legwork must be borne by the borrower.

Point to Remember

• To save time, you should seriously mull over submitting the FIR online if that option is accessible.
• Only the property owner can submit an FIR claiming that the property papers are missing or lost.

What if the bank loses your property papers?

As of late, the National Consumer Dispute Redressal Commission coordinated the United Bank of India, presently Punjab National Bank, to suffer a consequence of Rs 50.65 lakh over losing a borrower's property documents. The situation of the borrower, one Ashok Kumar Garg who was a worker of the said bank, is shared by many home buyers who buy property through home loans.?

The bank has also accommodated a punishment of Rs 5,000 every day if a bank neglects to return property documents to the borrower within the prescribed timeline.

Can duplicate property document duplicates be contested in court?

Duplicate property documents can be represented in courts, especially if their validity is questioned by any party involved in a lawful dispute. However, there are lawful recourses accessible to make duplicate duplicates substantial:

Verification process

It is fundamental to guarantee that duplicate duplicates are obtained through the appropriate channels, like the Sub-Registrar's office.

Legitimate attestation

A notary public or other approved lawful authority can legally attest to duplicate duplicates to certify their authenticity.

Affidavit

An affidavit can be submitted in court affirming the circumstances under which the duplicate duplicates were obtained and explaining their necessity. This can assist with establishing the documents' validity.

Publication in journal

In some cases, if the original documents are hopelessly lost or obliterated, a notification regarding their misfortune and the issuance of duplicate duplicates might need to be published in official papers or newspapers to give public notification and transparency.

Witness testimony

Testimony from witnesses who can attest to the authenticity of the original documents surrounding their misfortune may also be introduced in court to help the validity of the duplicate duplicates.

Conclusion

Documents generally disappear from banks because of the carelessness on the part of the property holder, or carelessness from the bank.?

If someone with not-so-well-meaning goals finds your lost property papers, you could wind up losing your home. Take severe action and resolve the situation quickly if your banker has carelessly misplaced your documentation.

All things considered is said and done, it is crucial to keep your property documents safe in the first spot.

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