Manohar Moopanar (Manager) 26 December 2011

1st sale deed missind in chain of titles from 3rd owner

I am planning to buy a re-sale apartment in Mumbai from the 3rd owner. The 1st agreement between builder and 1st owner (1979) is missing from the chain of agreement but society's share certificate shows the chain and society letters (noc & transfer) states the 3rd owner as current owner.

The Bank states the Title search report is clear is ready to sanction the loan if I provide Indemnity for missing 1st agreement which was signed between builder and the 1st owner in 1979

Rest all the documents are present.

I require guidance on below:

1. Does society's letter and title search suffice for missing document from 1st owner? Title search by the bank is clear.

2. In future when I have to sell the property would I have any legal issues selling it?

3. Any other liablity which could arise in my interest.

4. Does issuing legal notice, getting indemnity from 3rd owner and filing of FIR reduce my liablity?

5. Should I proceed with this sale or cancel this offer?

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4 Replies

Rohit (Attorney) 11 January 2012

Whether the land / flat is title clearned or not can be confirmed only after going through the documents however if the main sale agreement/deed is lost/misplaced then go for police complain and after this publish the public notice in 2 newspapers (1 english and 1 local language therein) and keep the record with you.

Let me know for any further guidance.

Regards,

Rohit

wasim (Manager) 25 June 2013

If i want to get home loan for the property in similar situation, what are ways to do the same. kindly suggest

2BHelpfull (Other) 25 June 2013

u can approach the Registrar and ask for the copy of original agreement.

such duplicate copy from registrar with its seal /notary is valid.

kindly appoint the lawyer / agent while making application to registrar.

otherwise u have to go to long route of filing FIR, notice in newspaper.......................................which will be time consumming

wasim (Manager) 26 June 2013

One of my relative is knowing the builder . Hence can i get some document from builder stating he is not having any rights on this property. My main purpose is to get eligibility for Home laon on this property.

Thanks for earlier reply