A KARTHIKEYAN 21 October 2019

Auction home

I got a house from SBI auction but after paying full amount we found that the borrower put an agreement with the third party but at the moody and the original documents are in in the bank he wrote the original document is in the bank in the agreement paper. the asset was mortgaged in SBI 2009 but he made an agreement with third party in 2014 September without telling anything to the bank now I am in confusion. why because the experts in the SBI Bank told me to register the property and it will not a big problem but it I have a bigger fear in that. how can the mortgaged property comes with agreement with the third party .so tell me . will the agreement is expired ? with the agreement entry can I register the property ? will it have any problems?

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4 Replies

Adv Deepak Joshi +917017821512 (Advocate) 21 October 2019

mortgaged date is before the agreement there will not be much issue.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 21 October 2019

1. IF you have purchased the Property via a Bank Auction and you are holding possession, THEN the same is legally conclusive and final via the Bank's "Sale Certificate", and any document /agreement /deed that the original owner might have done is legally null & void and the third party has no legal rights on such property. The Sale Certificate must be registered immediately to establish your rights and to avoid any further legal entangles.

2. The third party can file a criminal case and/or a civil suit against the original owner for recovery of his money or whatever, BUT there cannot be any proceedings against you

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

A KARTHIKEYAN 04 November 2019

Sir thank you for your valuable comment. but I have another question about the registration process. if the sales certificate is got. Is there any other problem arise to register the sale certificate and documentation. In Beginning the registration officer asked me to get a letter from the agreement holder to register the property. is it right ? Getting letter from the owner and the agreement holder is not easy but the registration officer said like this told me like this can he say like this? Please kindly reply it would be a great help to me and I am waiting anxiously for your reply

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 05 November 2019

1. Bank's "Sale Certificate" is the "FINAL & LEGAL" and Conclusive document under the Sarfaesi Act,

2. Put the Bank under proper legal notice to come for registering the "Sale Certificate". You CANNOT do it yourself on your own, without the sign + stamp of the Bank.

3. Make a written complaint to IGR office, against the nuisance demand of any documents (which is legally not required), for registering "Sale Certificate".

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com