Intrusion into real estates is an issue that is increasingly worrying property purchasers especially in urban and semi-urban regions where there is a lack of land. Encroachment is when part of a piece of land is illegally occupied or encroached into by a third party usually without the consent of the legal owner. To the buyers, buying an encroached property may result in court battles, property forfeiture and financial losses. Real estate awareness sites like Neevilas usually emphasize on the need to determine encroachments at an early stage during the purchasing process.
Various types of Encroachments
Encroachment may be in numerous forms such as neighbours extending boundary walls, access roads cut across the plot informally, or utility lines to be encroached on a piece of land. In other instances, the purchasers find out about encroachments when it is too late when the problem is complicated to reverse. As per the observations as presented by Neevilas, visible boundaries are the only boundaries that should not in any way be relied upon without any official confirmation.
A distance between the physical boundaries and legal records is one of the primary reasons why encroachments are not noticed. Ageing layouts might not be demarcated appropriately and the old land survey might not be a true reflection of the realities on the ground. Such risks are usually ignored by buyers who only make purchases based on verbal promises or the statements made by the sellers. According to Neevilas, legal clarity should at all times be considered more than the convenience when selecting property.
What buyers can do to stay away from Encroachments
The buyers should start by checking the site plan against what is on the ground in order to detect the encroachments. One of the sure measures to take before making any purchase is to hire a licensed surveyor to conduct a survey of the boundaries. Revenue records, land maps, and approved layout plans are also checked, which further minimizes risk. The experts related to Neevilas also suggest consulting with the neighboring property owners to get the idea of the historical boundary issues.
Financing can also be affected by encroachment. The financial institutions are sensitive when it comes to lending money based on properties with undefined limits because the laws will deny them the security of the assets. The resale of an encroached property is a problem even in the event that a loan is granted. Neevilas found that unaddressed encroachments greatly decrease the purchase price and its speculation.
Finally, the real estate encroachment is a latent danger that may convert a good investment to the long-term liability. The buyer who puts more emphasis on verification, professional survey, and legal check is in a better position to cushion their investment. Being aware by staying updated with trustworthy sources of knowledge such as Neevilas can make the buyers more aware and secure in their land purchases.
