Registry through gpa

 

(Querist)
14 September 2018

I'm buying a property in Greenfield, Faridabad from 3 partners who are registered GPA holders of that property along with GPA they hold Will and Registered Agreement to sale also carried out between 3 people and the person they took the property from.Registered GPA and agreement was done in SUB Registrar pancham office in Ghaziabad. They said that sale deed can be carried out on the basis of GPA, is it true?. None of the banks are giving home loan on GPA basis. Only NBFC might give loan. I want to know what are the risks involved with buying a property from a GPA holder. ? Can the previous seller who has sale deed on her name can she create any trouble in the future after the registry is done on my name ? The current sellers are holding the original documents of Property chain along with registered GPA, WIll and Agreement to sale for that property. Please guide.


N.J.S.Rajkumar alias narasimha (Expert)
14 September 2018

When the GPA is Registered and all the Original documents are with the GPA holder there is nothing to worry. Apply for Encumbrance Certificate with concerned Registrar for 25 years and verify and also check the property whether it is free to occupy with out any possession by any one. Then you cou could very well proceed. Keep a local Advocate for your assistance till the Registration formalities are completed and the possession comes to you. If at all you are very much worried you could issue an 15 days Notice in local News Paper regarding your Purchase please.

Shray Narula (Querist)
14 September 2018

Hi Sir, Thanks for your reply. I already have the possession of that property. It belongs to my friends who are GPA holder. I'm already staying in that flat and now applied for Homeloan.I Will get the sale deed done on my name via GPA once loan is approved. I was only worried that if that lady on whose name Sale deed exists and she gave the possession of that property via GPA to by friends can she cause any trouble in the future?

kavksatyanarayana (Expert)
14 September 2018

The GPA was executed by her and registered. It is sufficient.

Dr J C Vashista (Expert)
15 September 2018

Show the document of GPA to a local prudent lawyer to ascertain whether the attorney is authorised to sell the property or not? Otherwise, GPA is not the titleholder (owner) but caretaker during the pleasure of the grantor of the attorney and can not sell the property.

Shray Narula (Querist)
17 September 2018

Thanks for your reply. I have gone through the GPA document and it clearly states that any kind of deed can be carried out by the GPA holders. They also hold Agreemnt to sell and WIll of that lady where she has given all sort of rights/access of that property to these people. My concern is can that lady revoke the registered GPA without telling them or issue another GPA to 3rd person without the current GPA holder knowing ? Will that cause any trouble to me as I'm buying that property from current GPA holder.



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