Proporty bought in auction from drt
Querist :
Anonymous
(Querist) 08 January 2012
This query is : Resolved
sir,I bought a property in public auction in the year 2005.As it came very cheap I bought it for the sake of investment. On full payment I was given sale certificate and mother document of that vacant land which is about 4500 sq.ft. Now after six years when I tried sell the property I was told that the mutation has not taken place,and I have to get the sale executed.But I have a registered sale certificate with parent document what else does a buyers advocate expect from me ? . The value of the plot has increased manifold in the past six years. Moreever when I approached the concerned DRT they said registration of sale certificate results in mutation of property and no other deed of transfer is required .I am 75 years old and dont know what to do in this cash crunch situation. Please help me out.
Raj Kumar Makkad
(Expert) 08 January 2012
The legal position told to you by DRT officials as well as by the lawyer of the buyer is accurate. You are required to first get the property mutated in your favour and then to sale it as this is the legal requirement.
So far as your cash crunch situation in this old age is concerned, it shall be better to get the desire amount as advance from the prospective buyer and get the property mutated by way of that amount and then to get the registered sale deed executed in favour of buyer by getting rest of the money.
Querist :
Anonymous
(Querist) 08 January 2012
First of all I would like to thank Mr.Makkad for answering my query. The proposed buyer is not prepared to pay even few lakh rupees against my title as advance.He says I do not have title at all and getting sale executed in my favor is a cumbersome process as the previous owner of that property had died much before my purchase,and whereabouts of legal heirs of previous owner are not known. I would be grateful if someone could arrange bank loan against my property. I am from coimbatore,Tamilnadu.Can I raise bank loan against my property?
DEFENSE ADVOCATE.-firmaction@g
(Expert) 08 January 2012
Those were old days now things are not that simple and that is why new amendment is coming which now before the parliament giving more clear provisions in such situations.
You have to apply to the civil court for getting property transffered in your name.
M/s. Y-not legal services
(Expert) 08 January 2012
where is your property located at coimbatore sir., one of my friend working as a branch manager in i.o.b
if you need mean you can take his help., i will give ref.,
-tom-
Querist :
Anonymous
(Querist) 08 January 2012
sir I did not understand your reply.You mean to say that by invoking the provisions of amendment I could get my property transferred in my name absolutely. If that, be the case when these amendments are coming into force,please let me know.Thanking you in advance.
Raj Kumar Makkad
(Expert) 08 January 2012
You have no need to trace out the previous owners rather bank has to get the mutation entered in your favour. It is bank who was earlier owner of the property which made auction so you have no relation with the previous owner. The said bank can also advance you loan if you require even without getting mutation. You approach that bank and observe their response.
Your title over the property is perfect. No one can challenge it.
