Dear Sirs,
I am planning to buy a residential property in Mumbai. As per the documents of the property shared by the seller, the property was owned by Mr. X ( a Hindu) . On his death the property was transferred in the society records in the name of Mrs X.( a Hindu)
In 2010 , the society went into redevelopment . The documents shown indicate a tripartite agreement between the society, the developers and by virtue of which Mrs X will be given a flat in the redeveloped building.
Mrs X died in 2011 . She had made a will ,but it was not registered.She is survived by 2 sons and 1 daughter while she had one more umarried son who had died in 2004.In the will she had transferred the residential property in the name of Mr. Y who is one of the 2 surviving sons.Since the will was not registered and since this was an inherited property ,the 2 surviving brothers and the surviving sister agreed to discard the will.They requested the society to transfer the fal in the name of Mr.Y. The society took signed affidavits from the 3 heirs and gave a notice in news papers to invite objections and then made Mr. Y a member in the society in 2012. This is evidenced by an entry on the reverse of the share certificate signed and stamped by the society chairman.
Now on completion of the redevlopment , in jan 2013 Mr.Y has given an offer to sale which I have accepted.While making an agreement for transfer of sale, i was advised by my propert consultant who is a lwayer to make a sale agreement with Mr.Y and make the other two surviving heirs as the consenting party in the agreement.He has also advised all the 3 heirs to given a signed indemnity bond on a Rs.200 stamp paper declaring that they will indemnify any claims made on this property , and also indemnify any other claims if any claims are made or any interest is claimed by anyone in the property.This will also be registered with the registrar along with the sale documents and indemnity bond. All the 3 heirs have agreed to do this.
No succession certificate was taken either at the time of death of Mr. X or Mrs X. Also no other government records were updated to show that the property is now in name of Mr. Y .
Based on the above mentioned details,I would like to know the following .
1) Can the society refuse to give an NOC to Mr Y for the sale of this property .
2) I intent to take a bank loan, will i face any issues in getting a bank loan
3) Can the registrar office refuse to register the transfer of sale of the property in my name citing any issues.
4) As a buyer will my interest in the property be secured if I follow the procedure as advised by my property consultant.
5)Consequent to the sale and registration of the property ,Can the society refuse to transfer the flat in my name in the share certificate and society records as the owner of this property .
5) What additional steps should i take to protect my interest in the property and to avoid any hassles at the time of sale of this property in the future.
