Property sold to two persons
sahil
(Querist) 03 June 2017
This query is : Resolved
Respected experts,
I bought a flat in may,2014, i registered the sale deed and did mutation in may 2014. also having a bank loan and property is in my possession since may 2014, electricity connection is also in my name.
Now, after 3 years, i got to know somebody earlier then me, came into sale agreement with the builder in march,2013 for 3 flats in project, which also includes my flat (no registration and mutation done by them on any flat) and by triparty agreement they got loan from a bank on my flat in 2013. which builder is paying itself till now, as he is a relative of builder.moreover,1st party never came to me for any claim nor any bank. 1st party recently took possession on rest 2 flats as they were vacant.
moreover,builder is defaulter as he already defaulted in paying the loan on whole project he took loan on whole project in june 2013 (case is already pending in DRT courts)
so my concerns are
1. what should i do?
2. what previous buyer can do against me.
3. what bank of 1st party can do if builder fails to pay(they are in triparty agreement)
4. How my bank can provide loan to me as property is already mortgaged for two times(with 1st party's bank and builder's bank)
please give your valuable inputs, will be very thankful to all of you...
Sudhir Kumar, Advocate
(Expert) 04 June 2017
1. what should i do?
DO AS YOUR LAWYER ADVISES ON SEEING ALL THE PAPERS
2. what previous buyer can do against me.
HE CAN MAKE A SUIT FOR EVICTION BUT BEFORE THAT HE WILL HAVE TO GET THE PROPERTY REGISTERED IN HIS NAME WHICH YOU HAVE ALREADY DONE. FOR THAT HE WILL HAVE TO FILE SUIT FOR TITLE AGAINST YOU.
3. what bank of 1st party can do if builder fails to pay(they are in triparty agreement)
IF THE HOUSE IS HYPOTHECATED TO THE BANK (EVEN IF FRAUDULENTLY AND EVENT IF NOT REFLECTED) THE BANK CAN BRING SUIT FOR AUCTION OF THE HOUSE.
4. How my bank can provide loan to me as property is already mortgaged for two times(with 1st party's bank and builder's bank)
WHEN THE PROPERTY WAS UNENCUMBERED AND NO LIEN WAS MARKED AND HAVING BEEN SETTLED ABOUT YOU GOOD TITLE THEY GAVE THE LOAN. IF YOU ARE DISPOSSES OF THE HOUSE FRAUDULENTLY THE BANK IS NOT BOUND TO IGNORE THE LOAN.
Rajendra K Goyal
(Expert) 04 June 2017
Repeated query:
http://www.lawyersclubindia.com/experts/Property-sold-to-two-persons--643351.asp
Sri Vijayan.A
(Expert) 04 June 2017
I agree with Expert Sudhir Kumar and endorse his views.
krishna mohan
(Expert) 05 June 2017
I agree with the view of Mr.Sudhir Kumar. From the given info. it is noted that Banker is same for you and your builder. Since your title deed is mortgaged with the banker already, I am of the view Bank can not touch your property for any default as in their interest they need to have got the property mortgaged to them and in that case without release order from Bank they can't have sold and registered the property in your favour. Bank would have got a collateral and which you can find out from your banker either personally or under RTI to protect your interest.
sahil
(Querist) 06 June 2017
sir @krishnamohan,i am not getting you exactly, please explain more will be thankfull to you..
krishna mohan
(Expert) 07 June 2017
How my bank can provide loan to me as property is already mortgaged for two times(with 1st party's bank and builder's bank)
your query was answered understanding that at the time of your loan the property was not mortgaged with the Bank who lent the loan. EC also did not reflect such mortage. If this understanding is correct, Bank who had lent loan to the builder including your flat would have got collateral security. If your property is not attached in DRT you need not worry. If attached then you may consult a legal expert of repute specialized in property matters of your region to guide you correctly and protect your interest.
Guest
(Expert) 07 June 2017
Already replied at the other question at:
http://www.lawyersclubindia.com/experts/Property-sold-to-two-persons--643351.asp
sahil
(Querist) 07 June 2017
@krishnamohan property was mortgaged for 2 times earler then me -
1 time mortgaged by 1st party in march 2013 who is claming the ownership prior then me.
2.mortgaged by builder in june 2013 whole project which includes my flat also.
3. I mortgaged in may 2014.
krishna mohan
(Expert) 07 June 2017
From the above it is understood that knowingly you have taken a bank loan and your bank also sanctioned the loan. Bank will have interest and right to the extent of mortgage value. Hence you may consult a legal expert specialized in property matters with all documents including the recent encumbrance certificate applied as on date for right advise to protect your interest.
Guest
(Expert) 07 June 2017
What you are saying, based on that you and the builder can be booked for playing fraud with the bank.
Surrender K Singal
(Expert) 07 June 2017
What are the guarantees in registered sale deed of May 2014 ?
That would define liability on the seller if any encumbrance existed then !
sahil
(Querist) 07 June 2017
@surrender k singal-sir, there is only one registered agreement which is between me and builder, clearly mentioning in sale agreement and deed that property is free from all encumbrances, that is why I trapped in his fraud.
sahil
(Querist) 07 June 2017
@dhingra sir, if I was aware about that why would I buy this property. I already told you many times that not even me our whole society was unaware about builder loan,but in my case he sold it 2 times that is double fraud with me.
Guest
(Expert) 07 June 2017
Mr. Sahil,
You are just stretching the thread unduly, when for the present no problem has yet arisen out of your case of double sale and you are also in possession of the property.
You have already been advised through your other thread, http://www.lawyersclubindia.com/experts/Property-sold-to-two-persons--643351.asp,
as follows:
Even if there is any truth in your story, there is no use of discussing anything on the issue, unless any claim arises against your own interest.
All that will be a premature activity on your part, if you take any initiative at your own, as once you try to do, the onus will shift on you to prove what you say.
However, as matter of precaution, you may show all of your property documents to some local lawyer to get any further advice after his examination.
If you have some real evidence with you about what you say and other members of your society, why don't all of the members of the society launch a criminal case against the builder for his fraud.
QUESTION ARISES, WHEN ALREADY ADVISED, WHAT DIFFICULTY YOU FEEL IN SHOWING YOUR PAPERS ALONG WITH ANY PROOF IN SUPPORT OF YOUR DESCRIPTION OR BELIEF TO SOME LOCAL LAWYER.
I STILL BELIEVE, YOURS IS NOTHING EXCEPT AN ACADEMIC QUERY.
sahil
(Querist) 07 June 2017
sir, I mentioned earlier that builder case is already in DRT courts by all society members, you missed that.
but in between I got a new problem which is only with mine property of dual sale that is why I am so much worried and alredy discussed case with some local lawyer
you are right that no claim from any body, but as if other party stops paying EMI, what I will do at that time against bank please suggest on this if u can.
moreover,after a big fraud I don't want to take any risk and just wanted to have a view from all experts here that is why I write whole story here but inspite we discuss with you I have to prove agan and again that its a real issue not an academic query
Guest
(Expert) 07 June 2017
You say it as a big fraud, but still you stick to casual approach just to have general opinion at this sight without showing your paper as well evidence to any of your lawyer.
You have never stated in any of the two threads that you have already discussed case with some local lawyer. Even if you have discussed with some local lawyer, you have neither discussed, what was his advice to you and why you did not act upon his advice and instead tried to stretch threads just for getting general opinions of experts without getting your papers examined.
Had it been your real issue, you would have immediately hired some very good lawyer to bring the builder, along with his relative, to book by filing a criminal case against them, not have been trying to discuss in such a casual and slipshod manners. By the way, even if builder's case is already in DRT court, what restrains you to file a criminal case against him?
Your instruction for me is quite uncalled for, when you "if u still belive that its a academic query then let it be, don't stop other experts for their view." QUESTION ARISES, DID I ASK ANYONE ELSE NOT TO RESPOND TO YOUR ACADEMIC PROBLEM?
krishna mohan
(Expert) 08 June 2017
You have been advised enough on options open for taking further action to protect your interest.
You are yet to confirm whether you got encumbrance certificate (EC) at the time of loan and registration and updated now after registration to confirm the mortgage of your property? You also say it is sold to two parties. It can not be. Agreement to sell is different than Sale Deed. Once Sale Deed is registered and you enjoy the property, it is the other person to worry about it. Better proceed as advised by your counsel and if not satisfied change the counsel of your choice.
Surrender K Singal
(Expert) 08 June 2017
How are you affected by DRT case against builder ? You have regd. title deed in your favour as also real possession. Has any cause arisen so far ?
