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Possession certificate assures that the possession of a property is transferred from one owner to another successfully. Failing so, might land you in legal trouble. So, being an informed buyer, it is imperative you get this certificate done in your favour when buying a property.
Is possession letter mandatory for home loan?
If you are planning to get a home loan, you will need a possession certificate. Also, the certificate lets you claim income tax deductions. On the other hand, if you dont have this certificate, your possession of the property will be considered illegal by the local municipal party.
How do you write a possession letter?
1) That I am the owner and in possession of property bearing number with the freehold rights of the land thereto and competent to handover the possession of the property. I have already executed the title documents of the said property in favour of the person now taking possession from me pursuant to the same.
What is a possession letter?
A possession letter is a document issued by the developer in favour of the buyer stating the date of possession of the property. It is issued after the developer gets a completion certificate from the designated authority.
letter of possession
possession letter format in wordpossession letter from seller to buyer
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