Updated: Feb 15, 2021
7.12 extract - The 7/12 extract is an information document prescribing details about a specific piece of land such as survey number, area, date and more particulars about the existing owner's name.
Mutation - Mutation of a property is the transfer or change of title entry in revenue records of the local municipal corporation. The change in title ownership may occur due to a number of reasons like death of the original owner and subsequent transfer of the ownership due to inheritance or succession. In the event of a leased property, the ownership can be transferred through an irrevocable power of attorney.
Survey no - A land survey number is a unique number assigned to a specific piece of land to maintain records. The record contains the information about the location, size, shape, and ownership of the land, and is created by the surveyor.
Debt Coverage Ratio (DCR) - The debt coverage ratio measures the ability to pay the property’s monthly mortgage payments from the cash generated from renting the property. one - Zoning is a method used by local authorities (municipalities) to manage the construction and use of real estate in a specific area.
Sale deed - a sale deed is an agreement to sell a property to a buyer.
Devolution of the title - the transmission of interest in the property from one person to another by operation of law.
Encroachments / Encumbrances - An encumbrance is a claim against a property by a party that is not the owner.