Here we explain the process in detail for registering a list of documents for the registration you will need to buy a property in Pakistan.
Table of Contents
- Mother Deed
- Sale Deed
- Encumbrance Certificate
- Approved plan of the property
- Property tax Receipts
- Power of attorney
- Completion Certificate
Several fears and reservations like missing out on the best opportunity, negotiating and dealing, attestation of the documents or very long procedures make a person think many times before investing in real estate.
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Here we explain the process in detail for registering a list of documents you will need to register your property or the house for sale that you bought in Pakistan.
Mother Deed
In real estate, it is essential to have a complete property history in matters of undisputed ownership. This document (Mother Deed) is considered one of the most necessary when buying or selling real estate property. It is a legal document that shows complete information about real estate transactions, the number of times the property has been sold or bought, the number of people involved, and their details. In addition, it also includes full details of previous property owners and individuals who have been involved with the property dealing.
Sale Deed
It is one of the most important documents in the registration process for your home. This deed is significant, especially when buying a home. It contains information about the parties (buyer and seller). This document is required to confirm that you now own the property, and you now get complete ownership. Moreover, it can be used for legal purposes if necessary.
Encumbrance Certificate
This document contains evidence of legally registered real estate transactions against any property, such as transfers of title or mortgages. This certificate is a document certifying that the house for sale that you bought has no mortgage history and no outstanding loans associated with it.
Approved plan of the Property
The ‘anti-encroachment campaign in major cities has made it mandatory to have a document with a property card approved by local authorities. The paper is similar to the statement that the provincial government authorizes the map and design of the property. You can build according to the property plan that has been approved.
Property Tax Receipts
It’s been suggested that you carefully review all property tax receipts. And take all necessary steps to ensure that the home you intend to buy is not responsible. And that all taxes have been paid. If the sellers of your property assure you that the entire amount deducted for real estate taxes has been paid. But refuse to produce a receipt, it’s time to take a closer look at the receipts. Different property taxes are Stamp Duty, Withholding Tax, CGT (Capital Gains Tax), Advance Tax, and CVT (Capital Value Tax).
Power of Attorney
The document’s Power of Attorney gives an individual all the rights to rent or sell property on behalf of the property partner or property owner. If you have signed this document, you get full rights to do anything with the property. And no one can take any legal action against you. This Power of Attorney document must be collected and sent when registering your Pakistani property. Otherwise, the company or the previous owner helping you find your home will not be held liable for any future mishaps.
Completion Certificate
The primary certificate that will be required at the time of registration of your property is the Certificate of Completion. Moreover, this certificate also serves as confirmation that the property is now ready for the dwellers. This document shows that the home’s structure was built according to the plan that was approved. In addition, it also contains information about all the legal property owners.
Every city has its authority that provides the completion certificate to the property owner. For the residents of Lahore, it is LDA; karachiites, it’s SBCA; for the residents of Islamabad, it is CDA, and so on.
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