Confirmation deed required from 1st seller
krishna rao
(Querist) 20 March 2014
This query is : Resolved
Hi Team,
i am planning to buy a old house in Bangalore near KR Puram. i applied for Bank loan, as well i have given all property documents to personnel lawyer.
Personnel lawyer verified and signed everything OK. but Bank legal team said, we require a confirmation deed from 1st seller.
i am buying from 3rd owner
example
( Person A sold to--> Person B) with registered GPA and sale deed.
(Person B sold to --> Person C) with register GPA and sale deed.
(Person C sold to --> Person D) with registered GPA and sale deed.
Now i am trying to buy from person D. i got all previous GPA and sale deeds.
But Bank saying that they require confirmation deed from Person A.
At present we are not able to trace Peron A. if i trace him, what type of confirmation deed do i need to get from person A.
Though i requested BANK many times and other details, every time they are saying confirmation deed, confirmation deed, not giving much information.
Any suggestions how to proceed further?
Regards,
krishna Rao
Devajyoti Barman
(Expert) 21 March 2014
Bank may be wanting to check whether A had the GPA still subsisting in favour of B.
Since all these proprieties were transferred through GPA only, it would be better if you make A conforming party to your sale deed.
uttamtibrewal@yahoo.com
(Expert) 22 March 2014
dear client....
if its possible then get the confirmation deed otherwise move to another bank ... ur bank is not interested to provide loan.. for any query reply back or contact me
T. Kalaiselvan, Advocate
(Expert) 23 March 2014
The bankers are right in asking you to furnish the confirmation deed by the original vendor due to the nature of transaction done by GPA only. The original vendor A should execute a ratification deed ratifying the action of his GPA agent .
krishna rao
(Querist) 23 March 2014
HI All,
Thanks a lot for your response. apart from GPA , i have agreement of Sale as well Affidavit saying
point 1) i have sold to Person B(with site details in 1981 year)
point 2) i have executed GPA registered no.
point 3) i agree to execute sale deed to Person B
now, we can't trace the person A. so, please let me know your suggestion.
Thank you
krishna mohan
(Expert) 27 March 2014
All are fine but your banker wants it. You have option to either approach another bank or from the address details of the original owner who executed GPA in the cited sale deed as well as GPA, try to establish contact and get the process completed in your own interest.
