KISHOR BANTE (DEV.OFFICER) 17 February 2012
Raj Kumar Makkad (Adv P & H High Court Chandigarh) 17 February 2012
A loanee has to fulfil the requirements of the bank so you have no other option but to follow the guidelines of LIC in the given case. The biolder can be asked to get prepared an agreement from his family memmbers qua the land over which proposed building is to be constructed so that the formality may be fulfilled.
KISHOR BANTE (DEV.OFFICER) 18 February 2012
Thank you Raj kumar Sir, But can the agreement be made after 10 years after the building is actually built.
My agreement to sale says "------------ agreement was made on 13.08.2001.(Which is false/mistaken)"
Actually all initiatives to construct the appartment was done after Jan-2011.
KISHOR BANTE (DEV.OFFICER) 18 February 2012
What shall I do if he refuses to make such agreement postfacto?
advocate rajan pandurang joshi (Proprietor) 19 February 2012
Your query seems to be that can the Builder insist to perform your part of contract when he himself is not in a position to furnish the relative documents demanded by the financial institution. If my assessment is correct then my reply is as a Vendor, the Builder would be bound to meet the requirements of the financial institution. If the Builder is not in a position to meet the requirements of the Financial Institution or Banks, as long as he is defaulting, he will not be in a position to terminate your contract and refund your moneys (since prices may have increased since you entered agreement). You have an option to seek specific performance by calling upon him to produce the document, the second option is to move to Consumer Forum and the third option is to terminate the agreement and seek damages besides the amounts paid with interest.
KISHOR BANTE (DEV.OFFICER) 19 February 2012
Thank you Rajan Sir, Thank you so much. You don't know how your words give me the mental support. Thanks a lot.