Seller Identity for buying property

What to Know About Seller Identity for buying property

Posted: 4 July, 2022
Author: Zainab Khalifa
Time to Read: 2 Min
No. of Words: 401

Everything you need to know about a Seller Identity before buying Property

Buying a property is a huge deal but you can claim the ownership only when the owner’s title deed is transferred to you. Just like you scrutinize the information about the property, you need to verify the seller’s identity and ability to sell the property too. Let’s take a look at different types of sellers and the respective documents required.

 

  • What are the procedures if the property is owned by an individual?

Check his/her residency status and nationality. In addition to this, make sure whether the sale of the property requires the consent of government authority or not.

 

  • What are the procedures if the Property is Jointly held by owners:

Verify the identity of each owner and make sure that all owners have given consent to sell the property.

 

  • What if the Property is owned by a Company, Trust, Partnership, etc.?

The respective entity’s constitutional documents need to be examined to make sure that they have the right to own and transfer property. Moreover, verify whether the person executing and registering the sales agreement is duly authorized.

 

  • Can a person with an unsound mind or a Minor sell their property?

 

You should get orders from a competent court, which states that the Minor or Person with an unsound mind is allowed to sell but with the help of a guardian. 

 

If you have done a thorough examination of the property along with the respective seller’s identity and ability to sell, you can peacefully go ahead with the sales agreement. Managing the property sale alone would be a tiring task. That is why we have experienced realtors here at House Me, who can help you through the process with a breeze.

 

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Summary:

 

  • If the property is owned by an individual, check residency status, nationality and verify if property sale requires consent of government authority or not
  • If the Property is jointly held by owners, verify the identity of each owner and if all owners have given consent to sell the property
  • If the Property is owned by a Company, Trust, Partnership, etc., examine the respective entity’s constitutional documents and if the person executing the sales agreement is duly authorized
  • If a Minor or the person with unsound mind is selling their property, get orders from a competent court, stating that the person is allowed to sell with the help of a Guardian

 

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