Purchase of property which was earlier gon through AGPA
Raj
(Querist) 16 October 2015
This query is : Resolved
i want to buy a property in hyderabad. In this regard, I mate a property owner and I asked him to give registration documents of property. Then he gave me copy of his registered Sale deed. While going through the sales deed, i found out that the person who is selling me the property has purchased it from the person registered under Agreement of sale cum GPA. The sale deed also contains a line that the vendor further declares that the principal of the GPA is alive and the GPA is still in force and not cancelled either fully or partly as on the date of this instrument.
I am requesting you to please guide me.
Wether current seller can sale this property?
Wether his title is clear?
If not then what should i do
Should I get the loan for this property?
I will wait for reply, please.
Anirudh
(Expert) 16 October 2015
Dear Mr. Raj,
Are you getting this property for FREE?
Are you not going to invest your hard earned money in buying this property?
If so, don't you consider it prudent to approach a lawyer in your locality who deals with property matters, show him the documents that you have in your hand and to take his views on all your above queries?
Have you applied for and obtained Encumbrance Certificate from the Sub-Registrar's office to be sure that the property is free from any trouble?
Have you applied for and obtained certificate from:
Central Registry of Securitisation Asset Reconstruction and Security Interest of India,
5th Floor, MTNL Telephone Exchange Building,
8, Bhikaji Cama Place, New Delhi – 110066 (Email: helpdesk@cersai.org.in)
to know that the property in question has not been mortgaged (Equitable mortgage by deposit of title deeds of the property) with any Financial Institution?
Sitting at one corner, without seeing the documents in person, and simply going by what you say, do not expect any answer from us which will be 100% perfect - because the answer given here would only be based on what you reveal/say. If there is any deficiency in your understanding of the document then the answer will go wrong.
Therefore, you will be advised to spend some money on the lawyer fee initially to save you from trouble later.
Raj
(Querist) 16 October 2015
Thank you for valuable reply.
Sir, i have downloaded EC through online portal of Telangana property registration site and the history of deeds and agreements done for this property and it is showing the sales deed is happened as the document given by the seller mentioning that the earlier seller is representative under agreement of sale cum GPA, however as you suggested i am going to appoint lawyer for due diligence, if you have any reference please share. As I am new in hyderabad.
P. Venu
(Expert) 16 October 2015
From the facts stated, the present holder can sell the property.
As regards whether title to the property is clearand other aspects, further inquiry may be required.
Rajendra K Goyal
(Expert) 16 October 2015
Get all the documents checked by your lawyer.
K.S.Srinivas
(Expert) 20 October 2015
Agreed with Sri Anirudh.
T. Kalaiselvan, Advocate
(Expert) 21 October 2015
From your contents it can be noted that the vendor has marketable title and he can sell the property to you and you may even obtain bank loan for it. However it is always advisable to obtain a proper legal opinion to trace the title and other issues from an expert lawyer in the local.
