Buying a house involves excitement, fear, joy, and definitely an achievement of accomplishing a lifetime dream. The process is long, not so smooth, involves taking a lot of decisions, and much more paperwork. Keeping everything in line and order is very crucial after getting what you really wanted. So, following the process, let us look into these 5 steps to take on documentation after you buy a house. 

A separate folder 

After finalizing your property, the next step is generating all the documents like sales deed, registration papers, name in the land records, bank loan document and account details of loans, builder-buyer agreements, and more such documents. Ensure the papers are legit and up to the mark and you’ve paid the stamp duty. Make a distinct folder for all of them so that you can keep your property papers handy and up to the mark. 

Get a true copy

“True Copy” is the one that is the Xerox of your original papers. Sometimes a high-value property is being financed with the banks and banks prefer to keep all the original documents with themselves and will be given back to you once the loan is clear from the bank. So, to stay better with it, have a true copy of all the documents with you and keep them safe with you (as your only evidence).

Go for mutation

A mutation is generally updating of the owner of the property with the municipal department of that state like the resale of a property is like a mutation of property. While going for mutation, make sure that you’ve received all the papers related to the property and transfer of ownership. Different states have a different process of mutation to be followed. Also, mutation of property needs to be done before the future dale of property to give clear vision to the next owner about their rights on it & further.

Transfer of utility connection

After the property purchase, the next step is transferring the utilities further. Like the electricity, water, gas and other connections to be transferred to the names of the right owner. Also, check if the previous pays are all clear and nothing is pending in the current times. Transfer all the utility connections and keep a record of it too. 

Make or update the will

A will is the record of all the assets that a person holds. At the time of owning a new property, the individual is required to add the respective property in the will. A will is also a future deposition of assets to the other members of the family or anyone. 

These are the crucial 5 steps to take on while you’re documentation your new house or other property’s papers. Make sure to be very particular about each of the documents that you need while owning a property. 

Happy documenting!