Property Due Diligence to Minimize Risks
Before investing in a property, it is highly recommended to get a due diligence conducted of the property to minimize risks. LawWagon can assist in conducting due diligence of the property through expert diligence professionals.
Types of Due Diligence
Depending upon the nature of the transaction and the property involved, due diligence can be either:
1. Full Search (tenure of search is usually between past 30 years to 99 years)
Recommended for sale, resale, long term lease transactions and transactions that involve obtaining financial loans against the property.
2. Limited Search (tenure of search is restricted to past 15 years)
Recommended for short term rental/lease transactions.
The diligence for both the methods involves a rigorous search of all components of a real estate property and carried out comprehensively. The only difference being the tenure for which the search is done.
Once you send in a request, our representative will get in touch with you to understand your requirements.
As per your requirements, we will connect you to an expert property diligence professional.
The assigned professional will examine the following aspects during due diligence:
Due Diligence Report
After completion of the process, we will provide you with a Due Diligence report.
Legal Heir Certificate
When a family member passes away, the legal heir of the deceased can apply for a legal heir certificate. The certificate is used for inheriting property left behind by the deceased. It is also used for claims of insurance, retirement benefit, pension, gratuity and provident fund. LawWagon will help you obtain legal heir certificate through an expert lawyer.
We will provide you with a checklist of documents and a questionnaire regarding your relationship with the deceased and other details.
Drafting of Application
Based upon your responses, the lawyer will draft and share application for grant of legal heir certificate.
Finalization of Documentation
You will meet the lawyer at the office of district revenue officer to finalize documentation. You will be required to carry the documents mentioned in the checklist.
Filing of Application
After attestation and finalization of documents and payment of prescribed fees, the application will be filed at the office of the district revenue officer or court.
The Administrative Officer and Revenue Inspector or court will conduct due enquiry based on the information provided in the application.
Grant of Legal Heir Certificate
Upon satisfaction of the district revenue officer, the Legal Heir Certificate will be granted to you within 15-20 days.