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Lost Property Documents- Procedure for getting duplicate papers of property when you lose them
Property documents, such as registry papers, title deeds, powers of attorney, and so on, are legal documents that define a person's ownership rights over a specific piece of property. These documents are also required for a variety of other purposes, such as property transfer (selling), gifting, or mortgaging. Missing documents are especially important in the sale and purchase of real estate. It is difficult to sell a property with a missing paper. In the event of a lost document, you will need to obtain a duplicate as well as pay additional fees. Here are the steps to obtaining duplicate documents for your property:
1. File a police complaint immediately
After discovering that certain documents are missing, you must file a police report as soon as possible. Only the owner of the house should file the FIR, or first information report, stating that the property papers have been misplaced, lost, or stolen. Take a copy of the FIR and store it safely, as buyers may request it at the time of sale.
2. Publish an advertisement
After filing the FIR, you must publish an advertisement about the loss of property documents in an English daily newspaper and any regional newspaper. Then you must wait 15 days to see if anyone finds it and returns it within that time frame.
3. File an application for share certificate
On the basis of your FIR, you can apply to the housing society for a share certificate. The authorised Resident Welfare Association (RWA) convenes a society meeting and examines your proof of loss (FIR). If your application is approved, the housing society will charge you a fee and issue you a share certificate in exchange. Also, request a NOC (non-objection certificate) from them as it is required for further transactions.
4. Register with the notary
The next step is to prepare an undertaking on stamp paper about the loss of specific property documents, along with the text of the advertisement that was published in the newspaper and the police complaint number. The documents will then be attested and registered with the notary, making your undertaking legally binding.
5. Get the duplicate sale deed
The final step is to obtain a duplicate copy of the sale deed for the property. You must deposit copies of the police complaint, the text of the advertisement, the share certificate, and the undertaking stamped by the notary to the registrar office, as all property transaction records will be kept in that office. Then you must pay the fees and receive a duplicate copy of the sale deed.
Although going through all of these steps will cost you money, the end result will be a legally-certified duplicate copy of your property. Bank loans are not easily granted on such properties, but loans are sanctioned after all documents and the FIR are verified, provided the documents are authentic. Loans are made at the bank's sole discretion in such cases.
Remember that if you keep the documents in the bank and they are misplaced, you can sue the bank for compensation. The bank is responsible for safeguarding your credentials, and they may face penalties if they fail to do so.
