Land purchase through sarfaesi

ARVIND KUMAR SHAW (Querist) 31 March 2013 This query is : Resolved
I WANTED TO PURCHASE A LAND WHICH WILL BE AUCTIONED IN KOLKATA BY UCO BANK IN APRIL 2013 BUT THE PROBLEM IS THAT ON THAT LAND THE BORROWER STAYS AND HAS TWO TENANTS .. IF I PURCHASE IT FROM BANK AND THE BORROWER IS NOT READY TO VACANT THE LAND WHAT WILL I DO ???

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ajay sethi (Expert) 31 March 2013
property must be sold on as is where is basis . avoid purchasing said property

prabhakar singh (Expert) 31 March 2013
Unless bank gives you clear vacant possession DO NOT BUY.They should first get it vacated and then should take possession and then should auction.

Devajyoti Barman (Expert) 31 March 2013
Encumbered property is not advisable to purchase/
However after the auction of PROPERTY ON THE ORDER OF DRT, the tenant shall have no right of defence,

ARVIND KUMAR SHAW (Querist) 31 March 2013
THE PROPERTY IS JUST NEXT TO MY HOUSE AND I WAS VERY MUCH INTERESTED IN PURCHASING IT BUT THE ONLY PROBLEM IS THERE WOULD BE PROBLEM IN MAKING THE LAND VACANT .............ISN'T THERE ANY WAY AFTER PURCHASE FROM BANK I CUD GET THAT LAND VACANT ????

Devajyoti Barman (Expert) 31 March 2013
After purchase you need to file eviction suit only to get it vacated.

Raj Kumar Makkad (Expert) 03 April 2013
If you want to purchase a problem instead of property out of your own hard earned money because it exists adjacent to your house then you are free to go ahead.

The litigation may take years to get your entry therein and it is even not necessary that you become successful in auction.

ARVIND KUMAR SHAW (Querist) 04 April 2013
Thanks every one for your valuable suggestion
and i have decided not to go for purchasing that land in auction.

Raj Kumar Makkad (Expert) 04 April 2013
Most welcome from your side. Your decision is mature in the light of the facts attached with the property.

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