New Delhi, June 30 -- While buying a property one not only uses all his past savings but also commits his substantial future savings, in the form of EMI (Equated monthly instalment) if a home loan is taken. For most of us this is a once in a lifetime investment having lifelong implications. The laws applicable for property transactions are very complicated and are sometimes beyond comprehension of a well-informed person.

Let us discuss why taking legal advice while buying a property makes sense even when the lender engages his lawyer to carry out its part of due diligence.

The banks/housing finance companies appoint a lawyer to carry out the due diligence of property with limited scope of ascertaining that the seller has clear legal tit...