Public Notice property ads has to be placed in newspapers when a prospective buyer or seller wishes to buy or sell a property and intends to know if there is any claim or objection by way of sale, exchange, mortgage, charge, gift, maintenance, inheritance, possession, lease, tenancy, sub tenancy, lien, license, hypothecation, transfer of title or beneficial interest under any trust right of prescription or pre-emption or under any Agreement or other disposition or under any decree. Etc
He mentions the schedule of the Property with complete technical specifications. Usually a 14-day waiting period is mentioned in the ad for the claimants. Issuing a public notice property ad, you propose to purchase in publications is always advisable.
There are other reasons too. Some Transactions are not registered. To check such transactions it is advisable for the purchaser to Publish Public Notice ads in Two News papers and ask for Objections this helps the purchaser advocate to satisfy himself about the title of the property. Claims are invited in the nature of mortgage, lien, charge, lease, easement, gift, trust, or any other claim against the property which is required to be notified to the buyers advocate within a period of 15 Days after which it shall be deemed to have been waived. Such Public Notice supports the buyer’s contention in the case of dispute that he is a bonafide purchaser for value without notice of any claim.
The notice has to be published in a daily having wide circulation in the area where the property is situated. The notice is to be published after the sale agreement is executed.
Notice to the public is only a precautionary measure and it is not binding on anyone having interest in the property. They may ignore the notice, and many might not even see the notice at all. The public notice serves the purpose of qualifying the purchaser as a bona fide purchaser of the property. However, it is one of best methods of scrutinizing a property for double ownership.
Public Notice when Member Dies without making any nomination:
Many a times member of the family dies without making any nomination of the flat. In such circumstances the society requests the heirs of the family to publish a Public notice in 2 newspapers inviting the public against any claim / objection for transfer of Shares and interest of the deceased member in the claims property of the Society. If no claims/objections are received within the period prescribed the Society becomes free to deal with the Shares and the interest of the deceased member in the capital / property of the Society in such manner as is provided under the bye laws of the society.
Public Notice for Claim against legal heirs of the property
A good example in this case can be that the Property is in the name of the Father. he expires and the family has 2 sons and 2 daughters. All the heirs wish to transfer the said flat in the name of one of the Son. They publish a notice ad in 2 newspapers inviting claim or Objection against legal heir of the said property.