Hi,
I have applied for a Home Loan in SBI for the recently purchased property. The legal team of SBI has come up with issue saying the Power Of Attorney is not registered.
The property I am buying is re-sale property. This property was purchased by Mr. X from builder through Special Power Of Attorney to his daughter in year 2011-12. This property was re-purchased by Mr. Y & was sold by Mr. X through General Power Of Attorney to his daughter in the year 2014-15. Now I am purchasing this property from Mr. Y. No home loan was involved in the previous transactions & was done through full cheque.
Now I have already done with agreement of this property from Mr. Y & have paid downpayment & rest of the amount was to be paid through home loan.
The legal team of SBI is not reachable for last 5 days & the answer is still awaited whether this loan can be done or no. I wanted to ask all you legal advisers, Am I in the trouble of purchasing a property which was sold to Mr. Y using non registered PoA? Since the PoA was done by first owner & I won't be able to track him down, how can I proceed with this situation.
Thank You,
Jaydeep Choudhari
