Property law
rajesh kumar
(Querist) 02 October 2013
This query is : Resolved
a property is mortgaged to private company in 2006 original paper is with company and due to defult in payment, award is taken by company in 2010 which is still pending for excution . in between owner has done unregistered notorised byana agreement with other party in march 2012, last date of execution of agreement was sep 2012. but owener has eloped. so what is legal value of this agreement? now if this award/loan is sold by assignment deed by company ,what type of challenges new buyer has to face by holder of this byana agreement?
Phani Kumar. D
(Expert) 03 October 2013
Once the matter is pending in any Civil Court , that court order is final. As per the Limitation Act the limitation for execution is 12 years from the date of order.
If the owner executed any agreement, it is not valid document, even it is notarised. If the original owner has not contested the case before court, he lost his right over the property. In your case the court has pronounced the order in the year 2010 and the onwer executed the agreement in the year 2012. It means after court order, he executed agreement, on this point also the agreement is invalid.
rajesh kumar
(Querist) 06 October 2013
now if this award/loan is sold by assignment deed by company ,what type of challenges new buyer has to face by holder of this byana agreement?
rajesh kumar
(Querist) 07 October 2013
dear sirs ,please clear 2nd part ,
rajesh kumar
(Querist) 07 October 2013
please clear the new quiry thanks
Rajendra K Goyal
(Expert) 08 October 2013
What the author want to convey by ;
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author need to clarify.
V R SHROFF
(Expert) 08 October 2013
r u concerned with the deal??????
