What to do if your property documents are lost?

Wondering what to do if your property documents are lost? Go no further because, in this context, you are going to find out the detailed solution regarding this. Stay tuned.

Introduction

The sale deed or the property document is the one and only official evidence of your ownership of your property. No single property-related transaction can not be taken place if there is no property document of title deed. It is mandatory to keep your papers very carefully to protect them from all kinds of hazards. Well, in case you lost it somehow, there are a few steps you need to follow.

You may know that getting a housing loan can fulfill your dream of a good house, but there are a lot of steps before availing the loan. It is a specific step. The loan can be of different types like land purchase, construction, renovation, or a home loan for women, etc., but to avail of any one of these, you need to showcase your paperwork. Apart from loans related to your property, title deeds are also crucial for property buying and property selling steps. It will be too challenging to sell or buy a property if there are no proper property documents. 

So, title deeds or property documents are so crucial, but what if your property documents are misplaced or lost? What can be your next step?

In case you do not know the proper steps when your property deeds are lost, keep reading this piece of context. You will find the right way if your property deeds are lost. Along with that, you will also learn how to get property papers if lost and also registration of lost property process is also available here.

As a first step, you need to stay calm. Do not panic while this situation is present. As soon as you get that the documents related to your property are lost, you should not panic because if you are not calm, you can not think further to resolve the problem. So, you need to think correctly about your papers, and further steps should be followed with consciousness.

Here we will guide you through those steps.

Important property documents

Property documents are associated with land or a constructed building. It includes a lot of paperwork that validates your ownership of the property. Some of the significant property documents are 

• Agreement to sell
• Absolute sale deed and title deed
• Title search and report
• Khata certificates
• Receipt of property tax
• Encumbrance certificate
• Occupancy certificate
• Statement from the bank if the loan outstanding
• Non-objection certificates
• Sanctioned building plan by statutory authority
• Possession letter
• Completion certificate
• Power of Attorney

All of these documents or papers are known as property documents which are a must-have to get a loan sanctioned or to buy or sell a property. 

Steps you require to follow in case of property documents are lost.

Here is the detailed list that can help you to resolve property document loss. Keep reading for the details.

• File an FIR (first information report)

When you realize that your property documents are lost, or those are misplaced, head to the nearest police station. You need to file an FIR, i.e., the first information report. Your FIR will include a lot of specific facts like what was the actual scenario after not finding the document, any sign of loss, theft, location of the incident, etc. When you are done with filing the complaint, the police station will receive a copy of the FIR. In case your property is mortgaged, or if the bank misplaced your property document, you have to file the FIR as a first step. As an owner, you have to keep a copy of the FIR complaint for further use.

If you are a buyer and your sellers lost the property document, make sure to ask for a copy of the FIR. Depending on the copy of the police complaint, you can apply to the housing society or the builder to provide you with a duplicate share certificate. If you stay in a gated community or a housing community, the decision to give the same share certificate can be accepted in a society meeting. If the application of your duplicate share certificate is accepted, you may need to pay the fee for the copy of the share certificate for further use. 

• Advertisements in the newspaper

When you are done with the police complaint, as a next step, you should post your property document lost advertisement in a prominent newspaper. The newspaper should be in English, and you have to publish the ad in any regional newspaper. In case your property document is found by someone or in some scenario, your advertising should include a notice that will mention the details of the property, lost documents, and contact information. You can wait for a time duration of 15 days to check whether there is any news or if somebody finds and returns your title deeds. Locating original documents is also a crucial part of this step. This process actually helps a lot to return the documents to the rightful owners. Also, the advertisement will raise awareness about any theft or loss.

The No Objection Certificate or NOC is also mandatory. This No Objection Certificate can be collected from the housing society. With this step, the buyer can present at the time of property claims within 15 days of the notice or advertisement published in the newspaper. 

• Apply for a duplicate share certificate

In case your property belongs to a housing society or a community, you have to keep in touch with the Resident Welfare Association or RAW so that you can quickly obtain your duplicate share certificate. You have to fill out a proper format of the application form. Later submit the application form along with the FIR and the newspaper advertisement to the Resident Welfare Association. After receiving your application, the association will organize a meeting. The association holds all the right to check and verify your documents. These documents, like advertisements, FIR, etc., will work as your proof of loss or theft. When all the verifications are done, you will be charged a few, and the housing society will offer you a share certificate. Also, do not ignore asking for a No Objection Certificate or NOC. The No Objection Certificate will work in further transactions.

• Get the registration with the Notary public.

As the next stage, you need to prepare an undertaking on official stamp paper, which will concern the loss of the title deeds or property documents. In this stage also, you need to showcase your newspaper advertisement and a copy of the FIR number. The full details of the newspaper advertisement should be outlined. The police complaint number is also essential to make your proof strong. Apart from this, the details of your property documents in the newspaper should be valid. When you submit all of these documents, the notary will evaluate and verify all of those documents. If the records are approved, then the pledge will be legally bound.

• Obtain a duplicate selling deed or property document

Now here is the final or last step where you need to acquire your duplicate selling deed or property papers. In this step, you need to file copies of FIR, newspaper advertisement, share certificate, undertaking stamp by the notary (notarised agreement), etc., to the registrar’s office. All of those property transactions take place in the registrar’s office. You have to pay the fee, and you will get your duplicate copy of the property deed. If your property is older, it is also essential to acquire a title report of the documents so that it makes sure that it is free of encumbrances.

Few crucial notes for buyers

When you collect duplicate papers of your lost property document, it will require some price and time. But keep in mind it is worthwhile taking time because, in the end, you will be provided with the legally certified copy of your property documents or title deed. 

Any bank generally does not provide or hesitate to give loans to those owners who have lost property documents. But if there is an authentic duplicate property certificate, it will be easier to get a loan sanctioned easily. 

Though the loan approval is solely the discretion of the bank, you have to keep your property paperwork safe always. 

Some significant points to keep in mind

Some points you need to keep in mind are here.

• In case you put your property papers in a bank for safe keeping but, by chance, your documents are misplaced by the bank, then the bank will compensate you. 
• Some places may require the online filing of missing documents. This will save you time.
• Only the property owner will be present in person while claiming an FIR for the property papers. No one can ever go on behalf of the owner for these official works.

Summing up the details

These days, the problem of losing property documents is common, but the solution should be known to all. No one should take the loss of property documents as a light matter. It is definitely a serious concern. Also, losing property documents can lead to face issues in getting house loans, selling or buying properties, etc. It may also cause title disputes. So when you get to know that your property document is lost, take immediate and strict action. This situation will be resolved with a step-by-step guide. 

Frequently Asked Questions (FAQs)

1. What should I do if I lose my property documents?

You need to take a few steps immediately after losing your property documents. Those steps are: 

1. File a police complaints
2. Publish an advertisement in the newspaper
3. Register with the notary
4. Get a duplicate sale deed

2. What can I do if the bank loses my property documents?

If you have had a house loan previously, you need to submit your property documents. In case the bank loses your property document, you have to file an official police complaint immediately. Also, submit that FIR copy to the bank. You will get an acknowledgment paper from the bank too.

3. What is an affidavit of loss?

An affidavit of loss is a document declaring the loss of security, usually through theft or destruction. It will include all the detailed information regarding the failure. 

4. Can anyone get a home loan if the original property documents are mission?

Unfortunately, the answer is no. No one can go for a home loan if the original document is not there. 

5. What are the critical steps for an online title deed search?

Navigate to the Ministry of Land and Physical Planning and pick the land search option. Input the title number of the property under search and finish the online land search form.

6. How do I get my deeds from the bank?

You can usually do this via internet banking, a CHAPS payment, in a branch, or even with a cheque. Your solicitor will organize the title deeds, which will either be held electronically with the Land Registry or your lender will send them to you.