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How to verify real estate ownership before buying a property
Buying a property, regardless of its nature, whether residential, commercial or industrial, means spending a large sum of money, and this sum may be all you own, so it is important to verify it legally, and the most important point is its real estate ownership so that you do not get yourself involved in legal problems and lawsuits that will be a difficult experience, and you may lose this sum and other sums.
So, in order to protect your money and investments, we have written this article for you.
Article Content:
- Steps to verify real estate ownership before buying a property.
- Real estate legal terms.
- How to avoid real estate fraud?
First: Steps to verify real estate ownership before purchasing a property:
هناك There are many steps you can take to verify real estate ownership, and that you are investing your money in a legally verified property. However, you cannot verify all aspects, but there is basic information that can be known by requesting some information and documents such as:
- Verifying the title deed: The title deed is one of the important papers in proving ownership of a property, because when the ownership of the property changes, the ownership will be transferred to the new owner. For example, if you buy a legally registered house from someone, your name will appear on the title deed in addition to its privileges after the sale is completed. Make sure that the property ownership has not been transferred several times in a short period of time, as this may indicate that you have been exposed to fraud.
- Verifying that it is not mortgaged to the bank: Obtain a certificate from the real estate registry proving that this property is not mortgaged to the bank and that there is no mortgage loan on it that has not expired. This certificate confirms that the property is legally free and not mortgaged to any party.
- Ensure that the property is licensed and not built on land owned by others: The purpose of this step is to verify that the construction site is not built on land that has been encroached upon or owned by the state, because this will involve you in legal disputes, and in many cases the state may demolish this property without compensating you. Also, make sure that the plans are consistent with reality and the number of floors allowed, and you can request receipts for payment of real estate tax for a number of years, because it will be a good indicator that there are no legal problems around it, and there is no encroachment on state property, and that it is licensed in a regular manner.
- Review the municipality building in the area: Your inquiry about the property in the municipality that represents the Ministry of Local Administration in the area enables you to ensure that this property is legally built and has all the necessary legal approvals..
Second: Real estate legal terms:
Many of us are ignorant of many real estate terms and what each one of them means, so we will explain to you in this paragraph the most important of these terms, so that you are fully aware and do not fall into the trap of manipulating terms by traders or real estate transaction brokers:
- What is meant by real estate registration? It is a document that explains the description of the property, its location, the signs on it, and any modifications that have occurred to it.
- What is the title deed? It is a slightly blue-green box that contains information about the property, the region and governorate in which the property is located, the name of its owner, and the amount of his share, and it is considered proof of real estate ownership.
- Real estate newspaper: It is a newspaper in the real estate registry that contains information showing this person's real estate properties with their numbers and the real estate and administrative region to which it belongs, with a description of this property.
- Ownership sequence document: It is a document that explains the names of the owners who have succeeded each other in this property since its registration until the current owner, and his share in it with the ownership contract number and date, the name of the previous owner, the promotion contract number and date.
- Description statement document: It is a document that shows the description of the property, with all the modifications that have occurred to it, such as adding rooms or balconies or changing the description of the ground floor from shops to a residential apartment and other modifications.
- Survey plan: A detailed document about the property, including real estate ownership, governorate, region, district or village, property number, plan number, property shape and borders, property numbers and area of the surrounding properties, easements on the common sections, and plan scale, specifying the north side.
- Regulatory statement: A document that shows whether this property is inside or outside the regulatory plan.
- Sorting plan: A document that shows the divisions of this property, the number of apartments, and whether they have been transferred to other names, such as a father sorting a building consisting of a group of apartments for his sons, and each apartment is clarified with the name of its owner and its area and given a new number and its descriptions are corrected and any amendments made to it..
- Regulatory plan: A plan that includes information about residential areas, streets, and public property such as gardens, roads, lands, etc., and includes the height of buildings and the percentage built on them, and the shape of the lands, whether they are public property or owned by individuals.
Third: How to avoid real estate fraud?
Real estate fraud has increased recently, so you must protect yourself from the weak-willed, especially since you will pay a large sum to buy this property, and you may have collected it with great difficulty. Therefore, you must be vigilant and look into every detail that guarantees your rights, and here we will explain some important points.
If you intend to buy a property that is still on the plan or under construction, you must verify the accuracy of the information given to you by checking with government institutions and matching this information.
- No matter how much you are in a hurry to pay an advance payment for the purchase, we advise you not to pay anything before verifying the legality of everything and inspecting it on the ground, because they may rush you, especially if they find you easy prey.
- Do not sign a preliminary purchase contract under the pretext that this property has become yours, because when you sign the contract, you will be required to pay an initial amount, keep in mind that you may not like it after inspecting it on the ground, and it will become difficult to recover the amount paid, or you will have a penalty clause in case of withdrawal.
- Verify the identity of the person selling to you, and what his capacity is, whether he is the owner or an agent, with all the necessary documents.
- We advise you to buy from licensed companies or associations, because in the event of a dispute, you can resort to government authorities to resolve the dispute.
- Do not give your personal information to anyone, especially information related to your bank balance or personal data.
- Make sure that the real estate records or interests are the property ownership of the building, and that there are no mortgage or other signs on it. If you are busy, you can assign a real estate lawyer to follow up on the legal papers and verify their validity.
- You may be exposed to fraud by purchasing a property that needs major maintenance work, so request a property inspection service from our company BUILDING RANK, where our engineering team will inspect the building and its systems to assess its condition and efficiency in terms of (structural and architectural - electrical - mechanical - surrounding environment)..
- This way, you can be sure that you are purchasing a property free of defects and you will not have to pay huge sums for its maintenance, and thus you can make an informed decision about the property before purchasing it.
Conclusion:
One of the worst things that can happen is to buy a property and then discover that you have been scammed and that the person who sold it to you is a fraud, and he is not the real owner and does not have the right to dispose of the property, and the papers he showed you are forged, or that it does not match the specifications you want.
Therefore, the first thing to make sure of is the real estate ownership from the real estate interests and that all papers are regular and legal and do not pay any amount before making sure of all legal matters, and that it conforms to the specifications and the regulatory and surveying plan. Make sure that the property is free of problems in terms of (construction and architecture - electrical - mechanical - surrounding environment) through our company BUILDING RANK, which specializes in inspecting properties, and requesting a property inspection service, in this way you protect your investment and money.
