Which Documents should I keep as a Homeowner?
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As a homeowner, you do a lot of paper work create or enter into many agreements/documents while buying or constructing your home. You should preserve all the documents, drawings and important papers, which are important for you, your family and heirs. They are all important, though apparently you may ignore or may not feel so.
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From the moment you decide:
- To buy a home or construct a home
- To sell or purchase the property or transfer the property
- To buy home loan
- To get visa
- To take corrective actions during some natural calamities
- To get permission for construction
- You will need all important documents and drawings
Some important documents that a homeowner should preserve permanently are:
01. Land Ownership Documents:
Sanad/Property card from revenue authority, Khata certificate, 7-12, 6-a copy, N.A order (Non-Agriculture Permission), city survey sketch showing your land area, sale seed/conveyance deed including all prior sale deeds pertaining to the property transacted earlier to you bought it.
This will establish a history of ownership of the property over the years. Agreement or Documents about easement rights if any.
02. Sanctioned Copy of Plan:
Approved building plan as well as permission order sanctioned by Building Development Authority without which the construction of the building is illegal under the Municipal Corporation Act.
Completion certificate/occupancy certificate/ conversion certificate from local authority, N.O.C for Fire, Lift, Electrical operator, Home inspector etc.
04. Power of Attorney:
If someone authorised you or either, you authorised someone as your constituted attorney.
05. Tax Paid Certificates:
Receipts of property tax bills. Ensure that taxes for the property are paid up-to-date to the Government/Municipality/supply companies.
06. RTC (Records of Rights)Extracts(Form-6-A):
It is issued by the village Talati or Secretary. It contains all details related to land like survey number, sub-survey number and history of transfers and history ownerships of the property of years together.
07. Insurance Policies:
It is need in Natural calamities like-Earthquake, Flood, Fire, etc.
08. Agreements and Contracts:
Agreement between builder & owner, society and owner, rent agreement, construction contract agreement, etc. as applicable.
09. As-Built Drawings:
The drawings according to which the house has been constructed. If you want to do any addition alterations work or want to repair in future, these drawings are very helpful and must for you.
10. Contractor’s Bill:
When you construct or repair the house, you must save all the contractor’s their bills, which will be needed for
- Getting service against defect liability
- Income tax scrutiny
- To claim warranty /service support for bought out items
Most of the times buyers don’t care to obtain complete property documents at the time of purchase from the builder/seller. Due to lack of documents, one has to struggle at the time of resale or while buying a home loan. We should be vigilant for all our property documents and they should be well preserved and stored as valuables and should be easily available at home anytime. They may be securely kept in bank lockers, too.
All the above listed documents are important and should be stored in the safe place as you preserve your Passport and Aadhar Card and should be easily available at a moment’s notice, which can save you, your family, your time, money and headaches when they are needed.