How many types of NOCs are there in property transfer?
- NOC from legal heirs: In the event of the demise of a property owner, the legal heir’s NOC has to be procured to enable transfer of the property. The certificate is a must to ensure all the legal heirs have no objection to the conditions mentioned in the property transfer document.
- NOC from developer or society: In case of an apartment, an NOC from the housing society denotes that there are no outstanding dues or balance payments on the part of the tenant/resident. Under this ambit may come property taxes and CAM charges.
- NOC from authorities: Sometimes, you might need NOCs from local authorities like the fire or the electricity departments. The certificate will mention that the property has met statutory standards.
- NOC from bank: If you have taken out a bank loan in the name of the property, it has to be repaid in full before the property can be transferred.
There are multiple steps to obtaining a no-objection certificate for a property transfer, including identification of the issuing authority, making an application for NOC, gathering all the required documents, payment of fees and issuance of the NOC.
Documents required for NOC
- Identity proof
- Property ownership proof
- Sale deed
- Encumbrance certificate
- Building approval plan
- No-dues certificate from local authorities
- Affidavit by the applicant
NOCs are vital documents required to make sure that the transfer of ownership of the property is smooth and legitimate. It gives you peace of mind when you know that the property you are investing in is free from outstanding dues, legal disputes or encumbrances. This assurance is necessary for both buyer and seller.
Whether it is a mortgaged or leasehold property, a valid NOC ensures that there are no obstacles in the transfer and that the property is free from any illegal hold. Hence knowledge on the relevance and types of NOC required, on behalf of both parties, is now an integral part of property transaction.
In case you need any property transfer-related legal advice, our experienced team at Pioneer Property is ready to guide you.
Disclaimer :
Information contained and transmitted by us are for information purposes only. All views and/or recommendations are those of the concerned author personally and made purely for information purposes. Nothing contained in the articles should be construed as business, legal, tax, accounting, investment or other advice or as an advertisement or promotion of any project or developer or locality. Pioneer Property Management Ltd. does not offer any such advice. No warranties, guarantees, promises and/or representations of any kind, express or implied, are given as to (a) the nature, standard, quality, reliability, accuracy or otherwise of the information and views provided in (and other contents of) the articles or (b) the suitability, applicability or otherwise of such information, views, or other contents for any person’s circumstances.
We shall not be liable nor shall be held responsible in any manner for any action taken based on the published information (whether in law, contract, tort, by negligence, products liability or otherwise) for any losses, injury or damage (whether direct or indirect, special, incidental or consequential) suffered by such person as a result of anyone applying the information (or any other contents) in these articles or making any investment decision on the basis of such information (or any such contents), or otherwise. The users should exercise due caution and/or seek independent advice before they make any decision or take any action on the basis of such information or other contents.
.png)
Contact Us
Get Direction