The joy of owning a home is as immense as being on cloud nine. But, this joy can turn into sorrow if you are not aware of certain rights. Of course, as a home buyer several responsibilities come on to you by default but, some obligations might be unheard of. So, here in this blog we let homeowners know your rights so that nothing can ruin their dream of living a joyful life in a happy home.
Feeling connected with the newly owned property is an obvious thing, as you must have made a lot of effort to make such a big investment. Hence, it is pivotal for you to know the legal rights of homeowners’ including the right of possession, right of disposition, right to have the property appraised fairly, right to dispose of the waste, and the right of exclusion. If you a neophyte in the realty market and unaware of these fundamental rights, then continue reading to know more as we have explained rights in detail.
1. Right of Possession
A title deed is the most important document that states the name of the homeowner. The Title Deed is kept with the financial lender in case you have borrowed a loan to buy a home. The lender has the right to move legally against you or forfeit the property if you fail to repay the loan amount.
However, the same deed is handed over to you immediately, if you have paid the entire amount and cleared all the outstanding dues from the lender. This is the maiden thing to discuss when it comes to Homeowners’ know their rights.
2. Title Insurance
This insurance is a shield from any fraudulent person claiming it at the time of title transfer. Title insurance offers protection to developers and homebuyers against losses or flaws in the title that can come up from third party.
Although, Title Insurance is a new thing in the Indian real estate sector and only a handful of companies are offering it. Hence, it is pivotal for Homeowners’ to know their rights.
3. Right to Sell
The property owner is free to decide when he/she feels is the correct time to sell the property. The ownership of the respective property gives the person the right to sell, rent or lease the premises as per his/her wish.
However, you cannot sell the property before clearing the outstanding dues and the loan amount. This is one important thing to consider as homeowners’ know their rights properly to stay away from any hassle.
4. Right to Exclude
As the homeowner, a person has the complete right to security and privacy amid his/her property. The title holder of a property can deny entry to any person(s) he/she feels should not enter into the property. Similarly, a homeowner has the right to permit entry to whomsoever he/she wants to welcome into the home.
Homeowners know your rights also list that you can prohibit anyone’s entry other than the law enforcement authorities with a valid warrant.
5. Decent Living Attitude
Homeowners’ have the right to live in any manner they wish to. Despite this freedom, homeowners have to abide by the rules laid by the RWA (Resident Welfare Association). The stringent rules framed by the RWA apply to all residents living within their vicinity. Also, the residents can raise a complaint against you on the RWA platform.
Conclusion
As a part of the Homeowners’ know their rights list, you can raise any discrimination or infringement issue with the law enforcement authorities/court. Also, keep a note that the concerned authority can cease the property if you are found to be a defaulter for not paying the property tax and other necessary taxes.
