Purchase of property
Shiva Shankara R Shetty
(Querist) 04 December 2015
This query is : Resolved
Mr. A owns one shop in commercial complex located at Koramangala, Bangalore for Rs. 12.5 lacs.
Subsequently, he borrowed Rs. 12.5 lacs from Mr. B by pledging the shop original sale deed.
Mr. A and Mr. B both are residents of Tirunelveli, Tamil Nadu.
Mr. A signed on Rs. 100 bond paper which executed in Tirunelveli, Tamil Nadu in respect of such pledge and signed by both the parties in front of 2 witnessess.
After that, Mr. A has not paid interest as well as principal both. Now, he is absconded without paying interest as well as principal both. Mr B don't know where is Mr. A.
Presently, Mr. B possess the shop and the shop given for rent and such rent collecting and enjoying by Mr. B. Now, Mr. B want sell such property.
As per the information provided to us, no power of attorney executed in the favour of Mr. B in respect of such shop.
Now, my question is that, can I buy such property?
Is any provision that, Mr. B transfer such property? Can I get valid title?
Is any other ways to solve the present problem?
Ksreddyacs
(Expert) 05 December 2015
Consult Local Advocate..
Dr J C Vashista
(Expert) 06 December 2015
B is a mortgagor and not the title holder, he cannot sell it out. Donot buy it.
Consult a local prudent lawyer for proper analyses, guidance and advise.
Rajendra K Goyal
(Expert) 06 December 2015
Consult local lawyer, show all related documents and discuss.
K.S.Srinivas
(Expert) 10 December 2015
B is not the title holder of the property. If you buy that property, you will get defective title.
