The misplacement of property papers is a serious concern as the property papers are critical in the sale and purchase of property transactions. Take it seriously and keep the original documents in place. However, if you misplace or lose any of the property papers, follow the steps to get duplicate copies of the documents, along with payment of an extra amount of money:
1. Rush to file an FIR (First Information Report)
Filing a police complaint should be the first action from your end. The most crucial criterion to file an FIR is you should be the owner of the house. Be clear in your FIR statement whether the papers are lost, misplaced or stolen and which papers and how many papers are missing from the complete property document. You will be handed an FIR copy. Buyers may ask for it during the purchase of your property.
2. The use of newspaper for publishing an advertisement on the loss of your property papers
Once done with the FIR procedure, publish an ad regarding your lost property documents in an English daily newspaper as well as a regional newspaper. This procedure is likely to help you get in touch with the person who might have found your lost papers. Hence, do not forget to share your contact details in the ad.
3. Apply for share certificate to the housing society
After your FIR application, you can also have a word with your housing society. You need to apply for share certificate with the authorities of the housing society. After checking your matter in detail, your application will get approved with a fee charged. Or, the misplacement of the same share certificate can be regained by reapplying and paying extra amount.
4. The process of legalisation with the notary
Be ready with FIR copy, advertisement copy of the newspapers, and share document copy allotted by the housing society. These papers will then be undertaken on stamp paper, attested and registered with the notary at the registrar’s office. Thus, the undertaking of your lost property papers will be legal.
5. How to get the duplicate sale deed
You are required to submit an application to the property registrar along with the following documents:
A copy of FIR
A copy of newspaper advertisement
A copy of the share certificates
A notarised undertaking
The registrar office is where all the records regarding property transactions are kept and it is the same place to obtain duplicate copies of the sale deed. Once the prescribed fee is deposited in the office, you will get the legal duplicate copies for your property.
However, a few points to keep in mind are banks may be hesitant in granting loans in the initial stage on such properties with duplicate copies. Let the banks do the verification of all your documents. If found authentic, loans will be granted.
Another possibility is the misplacement of the submitted property documents by the bank. In such a case, the bank can be penalised for mishandling the important documents as it is purely responsible for preserving your belongings. You can claim your compensation.