Buying an auction property

Amit (Querist) 22 February 2016 This query is : Resolved
I am planning to buy an Auction property.

The title documents is where i ned clarification.

The bank has the previous chain, but the borrowers original receipt is only with them. The borrower agreement was in the registration office, when the bank went to collect it they were told it was taken by the borrower or his lawyer.

The borrower has since died and bank is in possession since the last six years.

The bank wont give a FIR of lost or misplaced document.

How to i clear the title with respect to me wanting to sell the property at a later stage?

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Advocate Kappil Cchandna (Expert) 22 February 2016
Sir,

Auction properties are the safest to buy .

Warm Regards
Kapil Chandna Advocate
9899011450

Guest (Expert) 22 February 2016
Normally, the bank's condition is "as is whereis.' So, you have to satisfy yourself after examining the documents with the bank. Otherwise, you may hire services of some expert on property matters to ensure yourself about the transaction to be safe and lawful.

Adv. Yogen Kakade (Expert) 23 February 2016
Even it is the property available in auction, it is always advisable to check all the property title related documents.

Rajendra K Goyal (Expert) 23 February 2016
Get all the documents checked through your lawyer.

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