If OC is not there & buyer has already paid 90% should He take possession скачать в хорошем качестве

If OC is not there & buyer has already paid 90% should He take possession

If OC is not there & buyer has already paid 90% should He take possession Welcome to our video on whether a buyer should take possession of a property if the occupancy certificate (OC) is not available, despite having already paid 90% of the purchase price! An occupancy certificate is a crucial legal document that certifies that a building has been constructed as per the approved plan and is fit for occupancy. In this video, we'll be discussing the implications of taking possession of a property without an occupancy certificate and the potential risks and consequences involved. We'll explore the significance of the occupancy certificate, why it's essential to have it in place before occupying a property, and what the legal consequences of not having one can be. We'll also discuss the reasons why a builder may not have an occupancy certificate, and the implications of buying a property without one. Furthermore, we'll examine the potential risks and consequences of taking possession of a property without an occupancy certificate, including legal disputes, difficulties in obtaining loans, and difficulties in selling the property. We'll also provide tips on how to verify the authenticity of an occupancy certificate and how to protect yourself legally while buying a property. By the end of this video, you'll have a comprehensive understanding of whether a buyer should take possession of a property without an occupancy certificate, and how to mitigate these risks while buying or selling a property. This knowledge will help you make more informed decisions when buying a property, and avoid any legal hassles in the future. So sit back, relax, and let's explore the world of occupancy certificates together! Whether or not a buyer should take possession of a property without an Occupancy Certificate (OC) depends on the laws of the specific country or state where the property is located. In many countries, it is illegal to occupy a property without an OC because it can be a safety hazard. If the local laws does not allow taking possession without OC, the buyer should avoid doing so. In India, the builder or developer is required to obtain an OC before selling any apartment or flat in the building. Without OC, the flat or apartment is not legally occupied and the buyer may not be able to get possession of the flat. If the buyer has already paid 90% of the purchase price, it's important to review the terms and conditions of the purchase agreement. If the agreement states that the buyer is entitled to take possession of the property upon payment of a certain percentage of the purchase price, then the buyer may have the right to take possession even without an OC. However, it is always best to seek legal advice before making such a decision. It's also worth noting that without an OC, the buyer may face difficulties in obtaining a home loan or mortgage, getting insurance, and selling the property in the future. Additionally, the buyer may be subject to fines or penalties for occupying a property that does not have an OC. It is advisable to avoid taking possession of a property without OC, and instead work with the builder or developer to obtain the OC, or consider postponing the possession until all the legal formalities are completed. real estate ownership property possession homebuying tips real estate legal advice buying a house property investment real estate financing mortgage payment real estate contract property transfer homebuyer rights real estate transaction home closing process title deed transfer property inspection real estate law buyer-seller agreement homebuyer protection property rights real estate due diligence mahasewa news ndtv redlaw legal awareness what happens if there is no occupancy certificate supreme court judgment on possession without occupancy certificate how to check occupancy certificate online how to check if builder has applied for oc can builder give possession without completion certificate is occupancy certificate mandatory for registration possession letter from seller to buyer can society be formed without oc #property #realestate #rera #propertylaw #propertyinvestment #propertyregistration #propertyagent #propertydocumentation #propertydata #propertyexpert #anurodhjalan #flatforsale #ownership #propertyagent #legalrights #flat #landregistration #plot