Hi,
I have shortlisted an apartment in Bangalore. There is a small confusion with respect to the sale deed of this property and hence need clarification
This plot was purchased by a person say P1 in 1972. Since she was not able to monitor this property she appointed a GPA say GP1 in 1981.
GP1 sold this property to a new Person P2, by making P2 as GPA in 1986. P2 has been enjoying this property since 1986.
However, P2 wanted to build an apartment complex in 2010. So, she goes back to GP1 and executes a proper sale deed in 2010. In this sale deed, GP1 mentions that he had already sold it to P2 in 1986, but since P2 has requested for a proper sale deed, he is executing it in 2010. He also mentions that this property is free from any litigations/other problems and he will bear the cost if there is any problem ahead
Also, P2 is having Khata in her name and has been paying the taxes regularly. Even the Encumberence shows she is the current owner (have EC of last 15 years)
One of the lawyers I approached has put an objection saying that the GPA will not hold good for such a long period and they need confirmation deed executed by P1 for P2...
When I cross verified with other lawyer and bank they told I need not worry and I can easily get loan for this apartment and go ahead
Also, one of the nationalized banks has approved this project
Since I have both the opinions here, I am in a state of confusion... Kindly help.
