While buying a flat from a Co-operative Society
saves you time and energy, it is necessary to ensure that you
get all the documents right. Below is the list of documents
that needs to be handed over by the Society to a buyer
during a transaction:
- No Objection Certificate: This certificate is obtained from
the building society that reiterates that the property is
free for sale and subsequent occupation.
- Letter of Registration of Society: This is an undertaking that
the Society is registered under the Societies Registration
Act and is valid.
- Copy of The Building Plan: This is the building plan that has
been approved by the competent authorities like fire brigade,
environmentalists' et al.
- Building Completion Certificate: A certificate from authorized
departments stating that the building is complete and ready
for inhabiting.
- Letter of Possession by Society: It ensures that possession
of the said flat is being delivered to the purchaser from
the effective date specified in the letter.
- Letter of Purchaser Obligations: It ensures that all the due
obligations of the buyer have been fulfilled and no other
liabilities remain on the buyers' part. It states that the
due amount ahs been received and the deal is complete.
- Occupation Certificate: An original copy of the Occupation
Certificate by the Municipal Corporation of the locality is
mandatory. It is vital in the sense that this document confirms
the possession to the buyer legally otherwise a mere handing
over of the possession will stand null and void, in case a
dispute arises.
- A Title report for the last 30 years: This report contains
the history of the title over the last thirty years. This
is an attempt to ascertain that the title was and is free
of any litigation issues since a long time.
- Copy of Insurance Cover if already taken.
- Latest tax payments towards the concerned departments.
- Copy of bye-laws of the Society: This copy acquaints the
buyer with the bye-laws of that particular society as each
society is made with a particular objective.
- Copy of the Deed of Assignment between the buyer and the society
is also provided to the buyer.
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