Law

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What is your Query   Mr Arun Lawyer !

I want to understand as to what does it mean when it is stated for sale of immoveable property in the column "Details of encumberances to which the property is liable" - "Property will be sold on "as is where is basis" with Tenancy rights." (The words with tenancy rights i am not able to follow) Does it mean its not ownership... actually the building is ownership and the sale is by auction sale of a debt ridden company.... pls reply

In an auction sale of a property... the earnest money was deposited, our bid was the highest and the same was closed and 25% of amount to be paid within 7 days of the order of the court.  However, party failed to do so.  but instead after 10 days they paid the balance amount which was accepted by O.L.'s office and also on the same day the 25% amount was paid.  Two days later O.L sent a letter stating the order will have to be obtained from H.C. since 25% after earnest money paid was not made ..... what is the law of auction...??