Indemnity bond for resale property
sanket salgaonkar
(Querist) 23 January 2016
This query is : Resolved
I have singed registration for resale property. We are third owner of the property. In our initial talks seller hide the fact that the first agreement i.e. between builder and first seller is missing. We felt like cheated. Still we have accepted this deal as we have already paid him token amount. Now we have applied for loan in Bank. Two Banks have rejected my application of loan because of missing agreement. So I decided to apply for the loan where our seller is having loan. This bank is ready to give us loan but wants to sign Indemnity bond. This bank has already sign indemnity bond with seller when he applied for loan.
My question is that, do I have to again sign indemnity bond with bank?
Anirudh
(Expert) 24 January 2016
There is no law which either says that you should or should not sign indemnity bond.
Answer is simple - if you do not sign the indemnity bond this bank will not give you loan. You have to look for some other bank.
Rajendra K Goyal
(Expert) 24 January 2016
Try to get certified copy of agreement missing. If you are satisfied, you may sign indemnity.
K.S.Srinivas
(Expert) 04 February 2016
If you are interested to take loan, then sign the indemnity bond or else go for alternate bank.
