What Are Your Rights As A Home Buyer: Know Your Rights
Buying a home is a big decision and one of the best long-term investments, they say. Not only
this, it is an emotional decision as well. Owning a home often comes with the joy of settling in a
place and building a life around it.
However, owning a home also comes with a lot of paperwork and understanding of the important
jargon or terminology associated with buying a home. In these jargons of real estate, a home
buyer also comes across their legal rights as a homeowner.
Not only are these legal rights a statement of your ownership of your home, but these legal rights
also extend to tell you what are you allowed to do with your property, legally. These legal rights
give you the power to sale, rent, accept and deny any option that you get to make a profit from
the property, which in this case, is your home.
To help you learn more about these laws in a little depth, here is a short article on the topic of
legal rights that you must know about when you buy a home.
Legal Rights of Homeowners
- Right of Possession
The right of possession is the title document that an owner receives after paying for a
house in full or after clearing a loan acquired to buy the house in the first place. This
gives the legal ownership of the house completely over to the buyer but only comes into
action when all the dues are paid on the home, including the property tax and any other
dues. - Exclusion Rights
The owner of the property has every right with the choice of people they wish to allow to
enter the house. This means that anyone trying to gain access to your property can be
denied entry if you so wish, except when law enforcement authorities come with a valid
warrant. - Control and Enjoyment Right
Control and Enjoyment right allows a homeowner, or just about any property owner to
make use of their property as they wish. However, this right is subject to the restrictions
and limitations issued by the local authorities and welfare societies. For example,
building your house higher than the neighbours, thus blocking their sunlight or window
access is subject to local welfare society rules. This also applies to people who host
frequent parties in their homes. Your right must not encroach on the rights of others. - Disposition or Selling Rights
Transferring the ownership or selling out the property is well within an owner’s right.
They can make the decision of selling, leasing, or renting their property as per their will.
However, in case of a loan, the dues must be cleared before selling the property. - Rent and Lease Laws
While the lessee has the right to enjoyment and the right to transfer leasehold rights, the
owner of the property has revisionary rights to the property. This means that the owner
can take possession of the property at the expiry or the termination of the lease contract.
Renters are protected by the rent act while the lessees are not. - Title Insurance
When a property changes hands, there are a number of frivolous claims that can be made
against the sale. This can cause loss or defects in the title of the property. Title insurance
is a basic right of a home buyer or a property buyer to protect themselves and their
money against frivolous claims made by a third party.
These rights are the most important and sacred part of the field of real estate as it protects the
owners and buyers against a lot of damage. These rights are fundamental to every property buyer and owner, whether you buy a flat or a residential plot in Jaipur or any other place. It is our duty to make you aware of your basic rights in real estate as a trusted service provider operating in the industry. If you have any questions about Real Estate and anything related to the legal side of it, you can get in touch with one of our experts today.
