How To Approach Property Frauds And Recover From It

Real estate has become one of the booming industries that have been attracting lots of investors with good returns and diversifies your portfolio as well. Although compared to other investment options real estate is considered to be safer, however, you can face manipulations, fraud, and forgery in this industry as well.

No matter how many times you have gone through contracts and documents you can still fall into this trap.

Various types of property fraud can occur such as title deception, delay in possessions, selling the property without any authorizations, and fake promises made by the property dealers or real estate agencies. That is why it is always advisable to choose only reliable agencies or dealers.

Let us discuss different steps you can take in approaching a fraud situation which will help in recovering from it.

Approaches

• Go for mutual settlement

if you want to avoid getting into legal hassles, then going for a mutual settlement is a way out. Consulting a real estate lawyer can help you through this process. However, this process is time-consuming and requires spending money in the form of fees. This process requires the deceptive party to pay for all the issues you went through and correct the situation as well.

You can approach the judiciary in case the deceptive party disagrees to settle out of court or go for a mutual settlement. Then you can go ahead and file a case. Consult a lawyer who will assist you in taking all the essential steps required to tackle the fraud that happens with you.

While hiring a lawyer do assure that they are compatible enough to handle your kind of forgery case.

• What to do if your property is sold off to someone else without any consent

This situation occurs when you have signed a contract for buying a property and the dealer sells it off to someone else even after taking the initial amount to block the property for you. You can file a case against the agency or dealer and impose a ban on them. You can consult a lawyer who will help you in sending them a legal notice and allow them to settle this situation without dragging the whole case to court.

• In case your property contract involves fake signatures or stamps

If the contract signed involves fake signs, then an agent or agency can easily dupe you without your awareness. That is why one should always verify the documents and get them proofed by real estate lawyers.

This kind of situation mostly happens when ancestral property or senior citizens are involved. In such a case when you get to know about fake or wrong signatures or stamps, you should file a petition with the court to announce that the deal done between the parties should be considered illegal and invalid.

• Misinterpretations

Sometimes, it may happen that after years of closing the deal, some of the kin or relative claims themselves to be the legal heir of the selling party and can file a legal case against you as a buyer.

In such cases, it is always advisable to consult a lawyer to create a contract and proofread all the documents of both the parties involved.

To sum up

Whenever you are about to be involved in the real estate process, it is essential to keep two things in mind.

Firstly, always choose reliable and trustworthy real estate agents or dealers for your property needs, such as ATS with their exquisite design of their township ATS Rhapsody and ATS Tourmaline that you can go for without any second thoughts.

Secondly, consult a property lawyer who can assist in keeping the whole process safe for you by checking the documents and proofreading the terms and regulations of the contract.

Amisha Lohan