Legal Due Diligence
When we talk about Legal Due Diligence per se Property, we have to keep in mind that we would be acquiring a property whose entire aspects- Title, User, Structure should be examined thoroughly before acquiring the same.
There has been instances when the people acquire the property in a hurry and they finally land up on hot soup due to defect in the property which was supposed to be examined prior to the said acquisition.
In this regard our Firm provides full service for Due Diligence so that our clients could acquire a safe and error free property.
The detailed scope of work in such case would be:-
Due Diligence per se Title:-
We need to examine the Title Chain of the captioned property for a period of 13 years.
This search is being conducted manually from the Office of Registrar of Assurances, and we even submit the original paid receipt and gatepass for the same assignment inorder to establishment its truth to our clients.
We are covering each change in hand being done in the last 13 years of the subject premises in our due diligence.
This search involves almost 15 checklists to be examined by us.
Due Diligence per se User:-
We are examining the exact user (Commercial/ Residential/ Institutional aspect) of the captioned premises from the documents furnished by you and subsequently matching the same with the Office of the concerned Zonal Office of Competent Authority.
This search is quite important as our Northern India is witnessing series of Misuser Cases being booked by different Authorities and the subsequent Sealing of the Properties. Hence we need to be very vigilant in the said issue and our Firm is specialized into this work.
It is pertainant to note that proper verification of User of any property takes almost 5 Working Days and there are almost 20 Checklists to be examined .
Due Diligence per se Structure:-
We are examining the Structure of the Building/ Premises from the Legal angle i.e Presence of appropriate Sanctioned Plan, its present validity, weather the same is still subsisting or not etc.
Our Team of Architects also examine the Structure of the Building/ Premises weather the same has been built exactly as per the Sanction or not. Weather there has been any Deviation to the Building done while constructing or not. This is very important to know the status of the Building and its construction being done exactly as per Sanctioned Plan because the Deviation in the Building can lead to Demolition of that particular portion of Building as per different Municipal Acts.
This search involves almost 8 Checklists.
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