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Resale of a flat - sale deed between builder and 1 buyer is missing.

(Querist) 27 April 2015 This query is : Resolved 
Dear Sir,
I Am recently in a process of buying a Resale flat where i will be second Buyer of the said property. All the documents are well in place excepts the Sale deed between 1 Buyer and Builder. 1Buyer have accidently missplaced it lost it during shifting as he moved from 1 country to another country frequently due to his/her JOb nature.

upon mutual understanding we have taken below steps
1. 1'th buyer have filed an FIR for the missing of the Sale Deed. Received fir copy with Police station Stamp and Autherized Police incharge signature.
2. Published a papaer notice in Leading English National Newspapaer and in local paper.
3. Also filed an affidavit of missing documents along with the paper publish notice and FIR copy attached in it.
4. Received the certified copy of Missing deed from the sub registerar Office.


We have furnished all releavent documents to one of the leading National bank and after detailed ispection through their own panle advecate they have clear title this property.

With all this procedure wanted your input is it safe ato go ahed with the deal and will ll this efforts make our title clear so there will be no risk in future in case if i would wish to sell it.

Regards
Praveen

Guest (Expert) 27 April 2015
Dear Praveen,

Although the panel of advocates of the bank has cleared the case in your favour, but for your own safeside, it would be better to get an indemnity bond also from the seller to indemnify your claim and to refund the money in case of any other claim arises any time in future against the property. Keep that with you, while you need not give that copy to the bank.
Kumar Doab (Expert) 27 April 2015
Agreed with Shri P.S.Dhingra.

Prefer the ID Proof of seller as Passport with page having visa stamps and try to get certified copy of bank's verification reports.
Kumar Doab (Expert) 27 April 2015
Agreed with Shri P.S.Dhingra.

Prefer the ID Proof of seller as Passport with page having visa stamps and try to get certified copy of bank's verification reports.
praveen (Querist) 27 April 2015
Thanks to All the experts and Mr.PS Dhingra Sir for providing your valueble advice on this case.

Will get in touch with the Lawyer and get this ideminity bond done ASAP.

Will also request for the certified title search copy from my bank.

Just a curoiuse thought in case if bank dont give the certifiied search copy will it make any issue in future keeping the fact in mind that title is clar and locked with bank.
Guest (Expert) 27 April 2015
You are welcome.

However, your supplementary query, "Just a curoiuse thought in case if bank dont give the certifiied search copy will it make any issue in future keeping the fact in mind that title is clar and locked with bank," is quite premature, as there is no place in law for hypothesis. All depends upon the nature and characteristics of the problem. You may get your doubt cleared only if and when something happens in reality.
Rajendra K Goyal (Expert) 27 April 2015
Well advised, agree with the expert PS Dhingra ji.
praveen (Querist) 27 April 2015
Thanks so much sir for your advice its certainly helpful for me and people like us going through such transaction of a life time.


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