Hi ,
I bought a property and got that registered with an absolute sales deed last year in May.
But now all of a sudden bank gave me a notice saying they have a sales agreement from Aug 2008 which was between builder and third party and bank gave loan to the third party. Now due to some dispute or some conspiracy purchaser stopped paying loan installment and now builders is also not picking up banks phone as he is staying in Singapore but he visits India. Now bank tells me that this property would be legally banks property as per sales agreement signed by builder and the third party, but since builder eventually sold it to us and we have a registry of the property as well.
Can you please advise what should be the best course of action. Shall I go to civil or criminal court ?
And also having just a sales agreement is bank justified that they have right on the property since we're legally the owner as we have the sales deed/registry of the flat.
Please advise asap. Thanks a lot in advance.
