power of attorney
Querist :
Anonymous
(Querist) 03 July 2011
This query is : Resolved
hi all, plesae help me reagarding this matter, 6 year ago i take a property from a person who has not able to pay his emi( bank loan installment) against his property , so take a property from him by doing a agreement that all the property rights he has given to me and in future all emi paid by me and after complete emi we make registerey to my name,we are make a normal agreement in 50 rs stamp paper in 2005, till a time everything was going a right path, but for precaution in future tell me what can i made further steps so that i completely safe, can i take a power of attorney on my name against property so that in future i can make a transfere property in my name with the help of POA????ALL THE BANK LOAN EMI PAID BY ME , ELECTRICITY IS IN MY NAME, RATION CARD IS IN MY NAME . IN VOTING CARD ALREADY IN MY NAME, EVERYTHING IS IN MY NAME ON THAT PLACE EXCEPT REGISTEREY BECAUSE OF IT IS MORGAGE ON BANK THATS WHU UT CANT BE TRANSFERE MY NAME, SUGGEST ME WHAT CAN I TAKE FURTHER STEPS??
Devajyoti Barman
(Expert) 03 July 2011
First get a sale deed executed and registered in your name.
Whatever you have doe till this date are secondary.
Devajyoti Barman
(Expert) 03 July 2011
You need to obtain only a formal no objection from the Bank.
Querist :
Anonymous
(Querist) 03 July 2011
but registery is not possible, till a date the property has finance by bank , without free i cant make registery , as the bank installment paid by me and i also submitted a copy of agreement to bank. i only need future safe , is any other option which i make more safe????
Devajyoti Barman
(Expert) 03 July 2011
You can definitely register the property in your name by paying off the loan amount directly to the Bank.
prabhakar singh
(Expert) 03 July 2011
get a sale deed registered in your favor, sooner the better,show all emi paid as part of consideration.
it is wrong to understand that sale is not possible during loan. property will pass on you with burden of loan due.
Querist :
Anonymous
(Querist) 03 July 2011
k ,thnx for lovely suggestion and respond my queies.
another thing in my ind which i need ye suggestion , can i make a power of attorney in my favour so that in future when the loan was complete i transfere the property in my name with the help of POA?????????? OR IF IS IT POSSIBLE THEN CAN I TRANSFER THE LOAN IN ANOTHER BANK WITH HELP OF POA IN CURRENT SITITUATION.
