I wanted to sell the flat hence when a person approached me to buy the flat,l agreed to sell it. He said he had the pre-approval of home loan from the bank and needs to submit the registered Sale Deed and other property relevant documents to the bank to get the disbursal of the home loan. He told me that the amount would directly be credited to my account through RTGS or by banker's cheques within 3/4 days. Hence I agreed and entered into registered Sale Deed with him which he took for submission to the bank along with other relevent property documents. Then after a week's time, he told me that the bank had turned down the home loan and he would arrange the home loan from another bank within short time. Since that day onwards he went absconding. So, I filed police complaint and sent legal notice at his address mentioned in the Sale Deed.
This year in May the bank authorities approached me and told me that he had taken a mortgage loan from their bank and he died in December last year. They need to auction the flat to recover their money. I intimated the bank about the cheating and gave them the copy of police complaint and notice I sent. Now this month the bank authorities stuck the possession notice under section 13 (4) of Sarfaesi act. Now what legal remedies are available to cancel the Sale Deed on account of non receipt of the consideration amount under section 52 of transfer of property act and to declare the Sale Deed null and void?
