Respected Senior Counsel,
I am working as Senior Executive in a Public LTD Co. I would like to
buy a property in chennai out of my hard earned money. Following is the
nature of the property:
1.The land is an Unapproved land alloted to females under a Govt scheme.
2.The building is also unapproved(since tne land is unapproved)
3.There is water and Electricity connection in the owners name.
4.The owner also pays Corporation tax for the propery.
5.The owner has applied for Patta by paying the necessay fee and the govt has issued a receipt.
The property owner is willing to sell half the property by giving power
of attorney and promises to register as soon as he gets patta and sale
deed from the govt.
My Question:
1. Is it worth buying the above proerty? If so, What are the legal implications?How to go about it?
2.Is the property owner has a right to give power of attorney and whether such power can be registered.
I shall be grateful to all the members for their valuable answers
Regards
Anees
as the land is alloted by the govt. to the beneficiaries there will be a condition restraining alienation .the govt fixes some period untill a specified period not to alienate the same,if at all any one is making any transactions in the abovesaid period that will not be construed as a legal transfer by any courts,and no rights of ownership will flow out of the same transaction as the transaction is void.
Further you have not specified under which scheme the govt has given it to beneficiaries,and when the beneficearies have recieved the same.
My sinciere advice is to consult a lawyer at your place for further querries only after the advise fo an advocate please go ahead as it is your hardearned earnings.
