Alok (Manager) 15 August 2012

Family tree required for self accquired property

HI,

I am planning to buy a house from the present owner who was alloted this house from LIC housin f finance limited in the draw. The owner had paid partly from cash and rest through Loan . The Loan is closed now and The allotement letter , EC , Khata Certificate are all in te present owner name.

Is this property will be considered a self accquired property and can he sell this to me witout taking consent from is wife , sons and daugther.

Once it is registered in my name can his family have any claim on the property later. Should I ask for family tree from the owmer.

Please advice on what should I do to protect my right for future

Also I am going with a notarized sale agreement . Sale deed will be registered after 2 months once I pay full amount.

Is Notarized sale agrrement valid in court of law in case of any dispute ?

Regards,
Alok

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2 Replies

surjit singh (Assistant) 15 August 2012

First seen the agreemnet of the Housing finance, whether the allottee can sell the flat if he can after what time after payment of all the instalment. So far having notarised agreement is concerned it is valid in law although it is directly not enforceable in law by way of specific performance act.

Alok (Manager) 15 August 2012

HI ,

Thanks for your reply . As per the alotment letter he can sell the house after 5 years and this condition is already satisfied.

So he an sell the house. To you reply if the Sale agreement is valid , so in case of any dispute or if the owner fails to get the sale deed executed , how my advance amount will be protected.

Can I go to court and ask for the refund in case the owner fails to perform his duty as per agreement which is signed by him and notarized ?