Hi ,
We are in a situation where in a Land had been sold by some one in Early 90s .The Buyer of the land then has not registered the land or obtained sale deed or any thing rather has paid up the entire amount and claims to have prooof for the same .
Later in 2006-7 some guy buy the land unaware of this transaction , he develops the property with a builder .
The builder publishes the details in paper , all banks including SBI,LIC and other provide loan and this apartment now enters a pre-approved loan category in 2009 and later .
by 2011 Dec the buyer who had paid-up (and did not make any presence felt for 20 years - nor reflecting name in EC or anywhere ) appears and says the land belongs to them and files a case in court for compensation as 15% of development fee or typical .
It is very funny to see our system which let the Honourable court has agreed the person's demand to an extrapolated cost . While I still question the system , it is not the fate of the people who bought the apartment unaware of this proceedings that we need to take next steps to secure our hard earned money .
given this situation ,
What should the people do ? It is like some one passing the bug of cheating and we have acquired it unknowingly .
Is there a way we can stop the bug with the builder or above ? Can someone please advice ?
