Purchase of property
satya prakash
(Querist) 07 December 2014
This query is : Resolved
Dear Sir
I intend to purchase a residential house constructed on 90 Sq. Yds of land, presently under GHMC Limits. The seller of the property is in possession of that property since last 15 years which he aquired through an notarised agreement of sale in year 1998. subsequently made some additional constructions on it got it assessed in his name and is paying the property tax since last more than 13 years.
Is it safe to purchase the same basis his continuous peaceful possession, as he will not be having any registered link documents except property tax receipts and electricity bill in his name since last 15-16 years. I understand the notarised agreement of sale by which he purchased the property and was put is possession is of not use.
Please advise.
Sailesh Kumar Shah
(Expert) 07 December 2014
There is no value of notarised agreement in the eye of law for buying property.
So, It is not advisable to purchase property without signature of original seller.
Rajendra K Goyal
(Expert) 08 December 2014
Purchase the property after signature of the original owner. Notarized sale deed is of no value.
Better get all the documents scrutinised through your lawyer. If link documents not available take copies from registrar office.
T. Kalaiselvan, Advocate
(Expert) 11 December 2014
The property was not actually sold to the proposed vendor hence the vendor has no marketable title and will thus render invalid if he ventures into execution of sale deed on the said property. Better to avoid if the original owner is not available.
satya prakash
(Querist) 12 December 2014
Sir,
That the seller is in continuous possession since last 16 years and paying the property tax and electricity bill in his name since last 16 years.
Even he has got patta for the said property in his name.
So is it not proper to purchase the same by way of execution of registered sale deed basis his continuous peaceful possession for last 16 yrs.
Almost all the property in that locality are dealt with in similar manner and once enquired fro concerned SRO, it has been confirmed by SRO that basis pacefull possession since more than 13 yrs, the property can be transacted by way of rgistered sale deed by present owner / seller.
Sailesh Kumar Shah
(Expert) 14 December 2014
you can't purchase good title and banks will not financed. again it is advisable to avoid.
