Builder defaults, bank asking to vacate apartment
Ravneet
(Querist) 24 July 2015
This query is : Resolved
We purchased a flat some years back. Full amount was paid to the builder and registry was obtained but the builder defaulted and did not pay to the bank. Now the bank has issued notice to vacate the apartment. Kindly guide what can be done.
Kumar Doab
(Expert) 24 July 2015
Approach an able lawyer specializing in property/revenue/civil matters ASAP with all documents and check the moves of the Bank now.
Your lawyer would advise you the the appropriate actions after examining your docs on record.
Ravneet
(Querist) 24 July 2015
Thanks. We do not have NOC from bank but we do have sales agreement and registry. A lawyer suggested us to go for out of court settlement with bank.
Advocate Kappil Cchandna
(Expert) 24 July 2015
Sir,
I mean how can the registry be done on your name if the bank has not got the money?
I feel its a case of Criminal Breach of Trust on the part of the builder to take the money and keep that money with him and not paying the same to the bank on time.
Case of cheating as well.
Warm Regards
Kapil Chandna Advocate
09899011450
Ravneet
(Querist) 24 July 2015
Correct Sir, The builder was arrested. He has taken money from us but not paid to bank. Now the bank has asked to vacate. What options do We have now ?
Advocate Kappil Cchandna
(Expert) 24 July 2015
Sir,
Write the bank through the lawyer that since the property has been registered and the same has been registered after paying the complete amount, and also them that if they have not received money that point of time then they should raised the objection that point of time.
Tell them to get the property vacated through the court and tell them that you are not vacating it.
Warm Regards
Kapil Chandna Advocate
9899011450
Kumar Doab
(Expert) 24 July 2015
Has the bank demanded in writing or verbally?
It is suggested that before you start writing on your own consult your lawyer specializing in property/revenue/civil matters ASAP with all documents and check the moves of the Bank now.
Your lawyer would advise you the appropriate actions after examining your docs on record and your inputs, given in person.
Rajendra K Goyal
(Expert) 25 July 2015
Consult local lawyer and show him all the documents.
Ravneet
(Querist) 26 July 2015
thanks all
T. Kalaiselvan, Advocate
(Expert) 31 July 2015
What is the status of loan, whether the builder mortgaged your property to bank or whether you have given the builder the money for the loan you have borrowed?
