LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Nitish Garg (Student)     11 July 2017

Owner denying to execute sale deed

Respected members,
In november 2016 my father entered into agreement for the purchase of the property(residential building) of Rs. 53 lacs, and as per agreement the date fixed for registry was in January but at that time due to demonetization the whole setup got delayed and both the parties mutually agreed to get the property registered in month of march.Amount of 13 lacs was paid at the time if agreement.We requested for the possession of the property as we wanted to get the renovation work done and owner agreed to the same. after that we paid them 22 lacs more in 2 installments and also spend 27-28 lacs on renovation and finishing work. as the registry date arrived we approached owner for registry but he said to wait for some more time as he said he was busy in some work and will not be able to get the registry done. since that, today the time has came he has not transferred the title yet and now we came to know that the owner don't have the registry with him and the same is deposited with bank as collateral security against the loan taken by him,What remedies are available in this case please suggest.



Learning

 10 Replies

Kumar Doab (FIN)     11 July 2017

 

'Buyer Beware' applies to property deals.

It shall be appropriate to get proper legal opinion from a very able local senior counsel of unshakable repute and integrity specializing in revenue/property/civil matters before signing or making payment.

This may cost some FEE but can defend long term interest and hard earned monies.

 

Kumar Doab (FIN)     11 July 2017

Your own counsel would have revealed the facts to you.

Apparently seller is not unwilling but can't come forward right now.

What is stated in agreement to sell on lien on this property?

 

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     11 July 2017

Immediately approach a good advocate. As per the info provided by you in the query , The owner of the flat cheated you as he did not mention anything  in the agreement regarding the loan availed by him against the flat by keeping it  as collateral security. 

You can file civil and criminal cases against him for his acts. Do not worry your advocate will take care of. The owner will respond once he receives the notice of the advocoate as per your instruction.so Immediately approach a reputed advocate who is well versed in civil and criminal areas of law.

Nitish Garg (Student)     11 July 2017

these are the facts stated by the purchaser to whom i personally know and the actual owner had kept the property paer with bank as security against the loan taken. but in agreement it has been duly stated that there is no such no loan as against the property

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     11 July 2017

OK any way the owner has cheated you do not worry approach the lawyer ASAP or first talk to the owner and warn him that you are going to initiate criminal proceedings against him.

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     11 July 2017

OK any way the owner has cheated you do not worry approach the lawyer ASAP or first talk to the owner and warn him that you are going to initiate criminal proceedings against him.

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     11 July 2017

OK any way the owner has cheated you do not worry approach the lawyer ASAP or first talk to the owner and warn him that you are going to initiate criminal proceedings against him.

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     11 July 2017

OK any way the owner has cheated you do not worry approach the lawyer ASAP or first talk to the owner and warn him that you are going to initiate criminal proceedings against him.

Kumar Doab (FIN)     12 July 2017

Originally posted by : Nitish Garg
these are the facts stated by the purchaser to whom i personally know and the actual owner had kept the property paer with bank as security against the loan taken. but in agreement it has been duly stated that there is no such no loan as against the property

In that case It is clear that seller has concealed and is not trustworthy.

Next action is your call.

{Balu manikantan} SUBRAMANYAM (Practising Advocate)     12 July 2017

OK I have already explained you the same so do what I have suggested asap Subramanyam balu0909@gmail.com

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register