House sale

krg (Querist) 30 July 2013 This query is : Resolved
SIR
MY FATHER IN LAW AGED 80 YEARS IS SERVOING WITH WIFE AND 2 SON AND A DAUGHTER IN COIMBATORE
TAMIL NADU.HE IN 1960 BE CAME A MEMBER OF A REG CO OPERATIVE BUILDING SOCIETY AND PURCHASED A SITE AND PLEDGE THE SITE TO THE SOCIETY TO CONSTRUCT A HOUSE BY THE SOCIETY
IT IS AGREED BY BOTH THAT THE PRINCIPAL AND INTEREST WILL BE PAID IN 480 INSTALMENTS HE HAS PAID ALL EMI WITH OUT ANY OUTSTANDING WITH HIS OWN SALARY INCOME
AND THE SOCIETY HAS GIVEN NO DUES CERTIFICATE AND ONC TO SELL THE HOUSE
HE WANTS SELL THE HOUSE HIS LAWYER SAYS HE HAS ABSOLUTE POWERS TO SELL THE HOUSE BUT THE LAWYER OF THE BUYER INSISTS THE WIFE AND CHILDREN'S CONSENT BECAUSE THE BUYER IS GOING FOR A BANK LOAN AND SONS ARE NOT WILLING TO SIGN. NOW PL LET US KNOW WHICH LAYER CORRECT

Follow Query

Report Abuse

Guest (Expert) 30 July 2013
The lawyer of your father is correct. Loan or not to the buyer by any finace company, your father is not liable to fulfill the conditions of any third party imposed upon the prospective buyer. Better find another buyer instead of becoming prey of the trap of the buyer's lawyer. Also don't agree to any condition binding your father to the sanction or disbursement of loan to the buyer, as he would neither be able to seel the property to the present buyer until the loan is sanctioned nor be able to find another buyer, if loan is rejected.

Anirudh (Expert) 30 July 2013
I completely agree with the views of Mr. Dhingra.

Your father in law is the absolute owner of the property in question. Therefore he has absolute right to dispose of the property. There is no need for consent, signature etc., of other persons like his wife, son, daughter etc. The stand of the buyer's lawyer is sheer non-sense.

Rajendra K Goyal (Expert) 30 July 2013
Well advised by the experts, nothing more to add.

Raj Kumar Makkad (Expert) 30 July 2013
No more to add.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries