Sale Deed missind in chain of titles
Querist :
Anonymous
(Querist) 14 May 2010
This query is : Resolved
Dear Sir,
We have bought a property and have got the agreement to sell registered, our sale deed will be executed after the home loan is sanction from the bank. We are the 4th buyer, the bank has informed us that the one of Sale deed in missing in chain of titles, we came to know after that only that the 2nd buyer did not get the sale deed made, ther is a copy of registered greement to sale with all the payments clear by this 2nd buyer as copies of cheques, receipts & DD are available. The 3rd buyer have given public notice and also made an indemnity bond for the missing document, what legal procedure should we follow as the 4th buyer to make our purchase clean and submit to the bank so that we can avail the loan. Waiting for your reply.
R.R. KRISHNAA
(Expert) 14 May 2010
Dear anonymous,
Since you say that the 2nd buyer has not made the sale deed and only has sale agreement there is no title per se conferred on the 2nd buyer and all further transactions (sales) made therewith are null and void. (a sale agreement will not confer title on any buyer).
The 3rd buyer having given public notice and indemnity body is of no avail to claim title from the 2nd buyer.
No amount / No act in the absence of sale deed in name of 2nd buyer will confer title to the subsequent purchasers and hence the property does not hold good title. Defective title confers no right..,
It is advisable for you not to proceed with purchase (in the absence of sale deed in the name of 2nd buyer or any previous title holder of the property).
Best regards...
Querist :
Anonymous
(Querist) 11 June 2010
Thanks for various feedbacks, I am grateful. We have got responses to cancel the deal. Just wanted to know that should'nt there be some law for rectification.
A person who did not prepare a sale deed and expired now. There are agreement to sell registered and all other papers in place, with copies of DD's and Cheque showing that the payment was made. His wife is in Solapur but not tracebale as informed by their neighbours. We have indemnity bond of the other buyer (3rd) in the chain of documents stating that the property title is clear & public notice. Can we prepare some legal paper to clear the title. Is there no way out, any law of rectification??? Curious to now the feedback
