Devika Pragati Group : Bargain and Sale Deed

A deed is the written document which transfers title (ownership) or an interest in real estate property from one person to another person. The deed must describe the real estate property, name of the party transferring the property (grantor), name of the party receiving the property (grantee) and be signed and notarized by the grantor.

‘Devika Pragati Group’ understands the value of the hard earned money of our investors which they invest in the real estate properties.  In order to avoid any future inconvenience regarding the ownership claim, buyers must possess the fair knowledge regarding the following deeds:

The ‘Bargain and Sale Deed’ transfers ownership of a property from the seller to the buyer. It generally does not guarantee to the buyer that the seller owns the property free and clear. A bargain and sale deed resembles a quit claim deed, but the property is sold rather than relinquished.

A ‘Warranty Deed’ acts as a guarantee to the buyer that the seller has the right to sell the property, and that the property is free of debt or other liens. It is often used in a real estate deeds. The seller must defend the title against any and all other claims, and compensate the buyer for any unsettled debts or problems. Warranty of title and warranty against encumbrances gets covered under this deed.

‘Quitclaim Deed’ is also referred as non warranty deed as it offers the least amount of protection to the grantee. In this deed Grantor conveys whatever interest they may have in the real estate to the Grantee without any warranty whatsoever. So, if the Grantor has no interest in the property then the Grantee will receive no interest. 

‘Devika Promoters and Builders’ works to safeguards the investment of our customers by providing them information regarding these deeds.

Devika Pragati Group : Preparing homes for tomorrow

With the increasing rate of issues related to real estate, ‘Devika Builders and Promoters’ advise the investors to conduct a thorough verification of the important documents before purchasing the property.

To ensure litigation free real estate transaction, it is necessary to check few factors related to property purchase, such as:

Defect free title

In real estate property, a defective title usually means that the land being sold by a party claiming to have good title is actually owned by someone else. Defective title can have seriously negative effects on a real estate sale transaction. It could cause the title to be declared invalid, which ultimately results in confusion regarding the true owner of the property. A defective title can make a real estate transfer more complicated and can delay the process. In order to avoid these complications, investors must confirm that the title is defect free.

Property encumbrances

An encumbrance is a claim against, limitation on or liability against the real estate property. Encumbrances include liens, deed restrictions, easements, encroachments and licenses. Encumbrance usually impacts the transferability of the property and can restrict its free use until the encumbrances are removed. 

Check for No Objection Certificates (NOC’s)

Before investing in any real estate property, investor must check for the NOC’s from urban land ceiling NOC (if applicable) also NOC from electricity, water and lift authorities have been obtained or not. If property is in a society, then a NOC from the society is also required to check the legal status.

‘Devika Pragati Group’ completely understands the value of the hard earned money which buyers invest for purchasing their dream home. With our projects like ‘Devika Gold Homz’, ‘Devika Skypers’ etc, we have fulfilled our commitment to complete the entire procedure of buying real estate property systematically to reduce the hassles for our valuable customers.