Katha in karnataka
C.J.Sriram
(Querist) 25 March 2013
This query is : Resolved
What would be the situation of an investor who has the UDS registered in Sale Deed and awaiting the Possession/occupancy of the House and not having the Katha obtained by the Promoter, due to delay in construction for reasons beyond his control.
Is having the UDS Katha Mandatory to prove the Legal Title and insisted upon for a Loan by Banks in Takeover cases.
What is the Legal position in Karnataka.
Raj Kumar Makkad
(Expert) 26 March 2013
It depends upon the bank to advance loan without katha entry or not because the ownership of an individual gets established by way of conveyance deed but if the previous owner has still not ownership rights then the subsequent occupancy rights do not provide ownership right even in favour of the individual subsequent buyer.
