Whenever you buy a house or a property, some rights are associated with buying it and they get automatically transferred to you.
Buying a house is an expensive affair and you feel protected towards it. But, if you are buying a house for the first time, it’s pretty normal that you won’t know anything about the rules and regulations. The rights associated with you purchasing the property and being the owner.
Before buying a house, you mu
st know about the rules and regulations framed by the government. You must know your rights as the owner of the house, such as the right of using the property, the right of owning the house, the right of exclusion, selling rights etc.
Your Rights as the owner:
Are you worried as you are a first-time buyer and buying the property for the first time, you have no idea about your rights as the owner? Have no more worries because we have got your back! We have prepared a list of your ownership rights that might help you and provide you with some clarity and better understanding.
Here’s Your Rights As the Owner:
1) Right of possession/ownership:
When you pay for the property and buy it, you immediately get the right of possession/ownership for that property. Right of possession/ownership means that the property is now registered in your name and you are entitled to receive all the rights associated with it. It is physically yours. It means that now you are the owner of that property. It is all yours now. You must always collect your ownership documents from the seller, even if you have paid the half amount or the whole amount. You can get your title document immediately to avoid any confusion in the future.
2) Rights of the Using the property:
Once you have bought the property and paid for it, no one can stop you from living on that property. It’s legally yours. You have all the right to use it the way you want. You can use it to live with your family, or you can rent it as well. You can generate some more income by renting it.
3) Right to Exclude:
Sometimes, other people may try to use or claim your property as theirs. So, the right to exclude helps you to restrain others from using your property. It is the right of the owner that he/she can restrain others to come to their property. It helps in maintaining the privacy of the owner and it gives you the choice to allow who you want to enter at your place or not.
4) Selling rights:
Selling the house means transferring your home in the name of the other person who’s buying it. The owner has the full right to sell the house according to his own will. If you want to move to another place, you don’t want to spend more time in that house. You have the full right of selling it according to your needs. Or you can rent it as well. It’s up to you.
5) Right to enjoy:
The owner has the right to enjoy the house and no one can stop him. You can host as many gatherings as you want. You can invite anyone. You can do anything but within limits and without harming your neighbours. Such as playing loud music at night or making a lot of noises. These things are against the social norms and you must not do that.
6) Rights to insure your title:
It is a new law that has come in India and, only some companies offer this law. It helps against the unfair claims on the house when it changes its ownership. It helps in providing security to the homeowners and safeguards them from this illegal activity.
Owning a home is a dream of every person and, when you get a chance to buy it, it’s like a dream-come-true moment. But some people try to spoil this dream. To safeguard this dream there are some rights that owners have and can use for their best. The owner can use any of these rights if he has the owner title.
Looking for a real estate company that guides you and suggests what’s best for you? Look no further than Hirola Infra as it helps you to buy your dream house without any trouble. You will get the best offers and deals for your dream house. You will get a house you love and which matches your personality. Get in touch or drop an email. Our team will contact you.
Thank you!