Gpa property
Rajesh Kumar R
(Querist) 14 January 2012
This query is : Resolved
Dear Sir,
I am planning to buy a land in Bangalore. The scenario is as below.
Mr.X own the land site no:1,2.
Gave GPA (Registered and non revoke-able) to Mr.Y and also execute an Affidavit stating that Mr.X sold the land to Mr.Y with the GPA but that the Affidavit is not notarized.
Mr.Y directly sold the Land to Mr.Z and executed an Sale Deed which is registered and I did not found any signature of main owner Mr.X
Mr.Z got the A-Katha from BBMP and has paid the betterment charges and Tax.
I am buying land from Mr.Z and approached to ICICI bank.
When bank gave Legal report, its saying the GPA holder does not have rights to sale the land to Mr.Z as he is only a GPA holder.
And Asking a Sale deed between Mr.X and Mr.Y and I ask the current owner Mr.Z about this he said he has only a GPA.
If Sale deed not there then bank is telling anybody can put a case on this property so dont buy this and we will not give the loan
Please sir help me Can I go head buying this property approaching some other bank.
Or there is a bg risk in buying this land. Please help me out already I have done a Sale agreement wroth of 4L with current owner.
Please help me can I buy this land or not.
Thanks
Rajesh R Kumar
Devajyoti Barman
(Expert) 14 January 2012
If X gives registered GPA to Y authorising him to sell the land to anyone he wishes then the sale by Y is very much valid then you can surely buy the property to Z.
The GPA holder need no sale deed to make the GPA authentic.
Deepak Nair
(Expert) 14 January 2012
Please check the following things regarding GPA:
1. Did X give Y the right to sell the property vide the GPA??
2. Was the GPA properly stamped and registered??
If yes is the answer for both then the sale of propery by Y to Z is legal. Otherwise no.
Rajesh Kumar R
(Querist) 14 January 2012
@Deajyoti & Deepak: Thanks for the replay
these are the clause in registered GPA from Mr.X to Mr.Y
1. To enter into sale agreement with the purchaser on our behalf and collect the sale amount on our behalf.
2. To register the sale deed in the concerned Sub-Registered office on our behalf and collect the the full salw amount on our behalf.
3. To pay tax, get water, get electricity and sanitary or Loan or to file a case if necessary.
4. To act all types of works on our behalf.
Now Please tell me is the clause states that Mr.Y have rights to sell the land to Mr.Z.
Please tell should I but this land.
Thanks
Rajesh R Kumar
Rajesh Kumar R
(Querist) 14 January 2012
GPA is Registered and has Notary.
Raj Kumar Makkad
(Expert) 15 January 2012
Much has already been opined so there seems a futile exercise to repeat.
M/s. Y-not legal services
(Expert) 15 January 2012
yes.. if its registered gpa mean y can sale it to z. its legal., z is the rightful person now..
-tom-
Advocate. Arunagiri
(Expert) 15 January 2012
The GPA is registered.
The GPA was executed.
The sale deed should say that the sale agreement is between X (represented by Y as GPA) and Z. If this is the case, the bank will not object.
If the sale deed says that the sale agreement is between Y and Z, it is invalid.
Deepak Nair
(Expert) 16 January 2012
If the POA is registered after paying requisite stamp, then the sale by Y to Z is valid and you can purchase from Z.
Otherwise the said sale is invalid.
Deepak Nair
(Expert) 16 January 2012
You can purchase the property at your own risk.
