• Copy of property documents

Is it ok/safe to give a copy of property documents to a prospective buyer of my property?
If not, what if he insists? 
Will he need the copy for taking a bank loan?
Pls guide me on how to handle this situation.
Thank you.
Asked 5 years ago in Property Law
Religion: Hindu

4 answers received in 10 minutes.

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19 Answers

It's not a issue to give a photocopy with an endorsement  on it and a received endorsement from him that property documents photocopy was strictly given for their reference purpose only. 

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

Hi, you can give a photocopy of the sale deed with crossing on the each page ...The bank loan can be obtained only after you have an agreement with the seller 

Hemant Chaudhary
Advocate, Gurgaon
4632 Answers
67 Consultations

No one can take loan from a copy of your property documents. But to be on safe side you can give the same to prospective buyer after crossing the same. 

Nikhil Gupta
Advocate, Yamunanagar
146 Answers
1 Consultation

You can furnish him inspection of the original documents 

 

copy would be needed for applying for bank loan 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Dear sir, 

It is safe to give a photocopy of the documents. The buyer may need it for several reasons such as bank loan, drafting sale deed, conducting due diligence etc. 

If you want to be extra cautious, you can send the scanned copy on his email specifically mentioning that these are only for this.. this.. and this purpose.

Agam Sharma
Advocate, New Delhi
617 Answers
6 Consultations

Yes he will need it to avail loan.

Swarupananda Neogi
Advocate, Kolkata
2993 Answers
6 Consultations

Yes you can give photo copy to buyer without make it true copy.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

Dear Sir/Madam,

You are suggested to give only the photocopy for reference of the buyer and nothing else. 

Ganesh Singh
Advocate, New Delhi
7169 Answers
16 Consultations

Hello,

  1. There is no concern about providing the copy of the property documents to the prospective buyer of your property as mere access to the copy cannot lead to any possible claims.
  2. Yes, he may need it for loan as the bank will need it to find out if there are any encumbrances on it before they can provide loan.
  3. If you have serious apprehensions about any misuse, you may write on the copy that you provide that it is being provided only for the purpose of valuation/assessment.

S J Mathew
Advocate, Mumbai
3619 Answers
175 Consultations

Copy with a mark over it like "cannot be used for any course of work"can be given. He may want to check the documents so it is ok to to give a copy with pages crossed 

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

It is okay to provide copy of property documents to prospective buyers:- 

Provided you endorse on copy the purpose of delivering the copy to prospective buyers, date month and year,place and signed by you and prospective buyers. 

The prospective buyers may misuse the property documents copy for any legal or illegal activities which may go against you such as he may procure SIM card from any cellular service provider who may be a terrorist which would land you in trouble or may obtain loan from Bank in connivance with Bank Manager etc.

So be careful and act wisely. 

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

Give a copy to the  prospective buyer by striking off each page with endorsement "for bank loan purposes only".

Dalip Singh
Advocate, New Delhi
1096 Answers
36 Consultations

Yes it is okay to give copy of documents to prospective buyer because he may need to get the documents verified from bank for purpose of loan.

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

- Yes, you give a copy of your property documents to the buyer , it will not harm you legally.

- He cannot take loan only on the photo copy of the documents , as it has no value in the eye of law. 

- However, if you having doubt over the buyer , then you can give him copy after just put a cross . 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

Yes, it will require by buyer for title check, search report in case of bank loan.

 

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

Dear Client,

You dont not to need to give Original Documents before entering into an agreement. You may give him only Copies of the sale deed. If any one wants to have a loan, the bank demands Original Sale Deed or  certified copy of the same.

Jaswant Singh
Advocate, Gurugram
930 Answers
2 Consultations

If you apprehend any misuse, you may exercise caution while handing over photocopy of the title documents.

Do not handover the attested copy;

Make an endorsement in the corner of the document stating this photocopy is given for the purpose of just reference only.

 

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

Cancel the documents and then give the property papers to him.


He needs to show it to the bank so that the bank grants him loan if the property papers are in order.

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

1. It is always advisable to give xerox copy or certified photocopy.

 

2. If the buyer asking only for orginal mother deed then I suggest you to get him signed on an agreement.

 

3. You may get in touch with local lawyer on the same.

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

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