Experience The NoBrokerHood Difference!

Set up a demo for the entire community

Thank You For Submitting The Form
Home / Legal / What is property fraud?
Q.

What is property fraud?

view 90 Views

1 Answers

1 Year

Comment

whatsapp [#222222128] Created with Sketch. Send
0 2023-03-07T15:24:54+00:00
⤺ Reply

Over the years, I have learned that there are many things to consider when it comes to buying or selling a property in India. One of the most important issues to be aware of is property

and mortgage fraud. I will share more details about it below.

Get an answer to all your legal queries from the experts at NoBroker here.

Draft your sale agreement via NoBroker for a hassle-free process.

 What is property fraud?

In simple terms, it is a

type of fraud that can happen when someone tries to steal or manipulate a property or its ownership rights for financial gain. Eg, if someone tries to steal your property to sell it for 10 crore, it will be property fraud. 

Another common type of property fraud in India is

land registry property fraud

. This is when someone tries to register a property in their name, even though the property does not belong to them or they do not have a legal claim to it. Fraudsters make fake documents, forge signatures, or use other illegal methods.

Mortgage fraud is a fraud which takes place when someone misrepresents (lying about their income or assets, or providing false information on their mortgage application) their financial situation in order to obtain a mortgage. 

A buyer or seller needs to protect themselves from property fraud by conducting due diligence on the property. The ownership of the property can be checked and verified by the land registry records. Another method  for protection against

property and mortgage fraud

is conducting a title search for the property and never signing documents without consulting a lawyer or real estate professional.

Read more:

How to check stamp paper is real or fake?

How to check property is legal or not online? 

Shifting, House?

✔

Lowest Price Quote

✔

Safe Relocation

✔

Professional Labour

✔

Timely Pickup & Delivery
inline_cards

Intercity Shifting-Upto 25% Off

Check Prices

inline_cards

Intracity Shifting-Upto 25% Off

Check Prices

inline_cards

City Tempo-Upto 50% Off

Book Now

Most Viewed Questions

I Want My Shop To Be Rented for Bank ATMWhat is the difference between sales agreement and sales registration?What is the Unregistered Sale Agreement Validity Period?How much is stamp duty and registration in Mumbai?Can a Property be Registered in Two Names?How is betterment charges/improvement charges calculated for an apartment? Is it calculated based on UDS or the Built Up area? Is it a one time payment? And if the BC/IC is paid by the builder for land before construction do we need to pay it again for apartment?Can GPA Holder Register Property in His Own Name?What is the difference between the registration of agreement of sale and sale deed?Difference Between Sale and Exchange?What happens when someone dies before completing an agreement to sale an immovable property?See All

Recently Published Questions

Is It Possible to Cancel the Sale and Construction Agreement Done for Property?Is There a Way I could Cancel the Sale of my Property After Entering an Agreement?Purchased Flat from Builder in April 1984 but Registration not done till date in Mumbai. What is the Solution?Is 100 Rupees Stamp Paper Valid for a Sale Agreement of 10 Lakh Rupees?Can registration happen in any registrar office in the same taluk? Or it has to be in the same village's office?Sold plot in Rohini-Delhi..recived 10/- advance(10%)…time of paymnt -4 months…just sent WhatsApp post for deal confirmation…no reciept and byana agreement given…now 2- months are over and the buyer not responding . I sent hand written watsapp note to pay my balance payment..again no response..now what should I do? Can I sell my plot to another part? Can I forfeit advance? Can I claim interest for delay period, Can the buyer claim his advance in future?What are the 5 Must Clause in Sale Agreement of House?What is Penalty Clause in Sale Agreement?What is a Forfeiture Clause in Sale Agreement?Is Sale Agreement Valid after Sale Deed?See All
Flat 25% off on Home Painting
Top Quality Paints | Best Prices | Experienced Partners