Created : 11 Jan 2024
Laws worth knowing before buying a second-hand home Buying and selling a house or real estate is a legal transaction between the seller or home owner and the buyer. The process of both parties must have the Land Department take care of the correctness during the purchase and sale. There are 4 main legal precautions as follows:
1. The owner of the house and the owner of the land title deed must be the same person. The buyer should check carefully whether the owner of the land title deed matches or not. This can be verified directly from registration evidence at the Land Office. And you should look at both the front and back of the land title deed.
*The most common problem is In the case where the owner of the house builds a house that is an inheritance or having to build a house on someone else's land or relatives
If we build a house on someone else's land The house will become part of that plot of land. The person who has ownership rights in the house is therefore the owner of said land. Even though the owner of the house is listed as the owner in the civil registration. But there is no ownership of this house or plot of land.
2. The house must not be on public land. This is important because we must ensure that the property is not located on public land or private land donated to the public. because they have the right to be revoked later
3. You should make a contract to buy and sell. This step leads to the buyer's first payment. This will be considered as a deposit that the real estate will be bought and sold within a specified period of time. Once the buyer is able to get a loan, it is now the process of entering into a sales contract. And you should make a purchase and sale contract about 1 month in advance to check the condition of the real estate and various obligations.
4. The sales contract is the most important contract.
Because it will result in the buyer's biggest payout. The period is approximately 1 month after the sales contract is signed. And the contract must be made in front of the Land Department officials only to be legally binding. And you should ask the Land Office to survey the land to check the accuracy of the land title deed.
summarize
Finally, the caveat of the contract in the case of buying a house with land is that it must specify or mention the house or buildings on the land as well. Because the seller who wants to avoid taxes will specify in the contract that it is a land transfer only. And in addition, you should pay attention to the type of contract that you make every time. Whether it is a contract to buy or sell Hire purchase agreement Because they cannot be substituted. and have different effects