smeet (gfd) 12 January 2013

Cancelled agreement is part of the chain of agreement?

I would like to ask something regarding the property documents.

I have booked a resale flat in Mira rd, Thane. And i would be the "4th owner". I have applied for the Loan in SBI and there a issue regarding the chain of aggrement papers. Bank is asking for the 2 more documents i.e "original agreement (registered)" and the "original canellation deed (registered)", which happened between the "2nd Owner" and "Person XYZ" but due to some reason it did nt happened. And after the cancellation he sold it to "3rd Owner". "2nd Owner" provided all the original documents to the "3rd Owner" except those 2 documents.

The "3rd Owner" purchased this flat on Cash and less bothered about the Papers/Documentations. Now he is selling his flat, to me, and my bank is asking for those documents, he approached "2nd Owner" and came to know that the "Sale of agreement" was submitted to registrar's office to make the "Deed of cancellation". And when he asked for the "Deed of Cancellation" the "2nd Owner" clearly refused to handover it to the "3rd Owner" by saying that it does not comes under the "Chain of Agreement" and it belongs to him as it is cancelled.

"2nd Owner" is a lawyer by profession.

The "3rd Owner" tried to find out some truth in the registrar's office and came to me with the finding that the "cancelled sale of agreement" & "deed of cancellation" does not belongs to the "Chain of agreement" and asked me to convince the bank about that.

Could you draw some attention here please?

Thanks
Smeet Sinha

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1 Replies

prakash vathore ( lawyer) 19 January 2013

we ensure the owenrship right by looking in to the chain of agreements. if the present owner is lawful owner and in between any agreement was entered and subsequently cancled then it doest affact the right of the present owner. and bank would only see whether the tittle is clear or not and is there any loan outstanding on the same.

i dont think your bank is really need that agreement which was subsequently cancelled. more over u can apply for the certified copies of the said agreement in concerned sub registrar's office.