Sarfeasi act, 2002

Querist : Anonymous (Querist) 17 January 2012 This query is : Resolved
BANK HAS SOLD PROPERTY IN MY CLIENTS FAVOUR BY PUBLIC AUCTION IN EXERCISE OF POWER UNDER SARFEASI ACT 2002. KINDLY SUGGEST ME WHETHER REGISTRATION OF DEED OF CONVEYANCE BY BANK IS COMPULSORY.IF THE SUCESSFUL PURCHASER SELL THE PROPERTY TO ANY THIRD PARTY BY SALE DEED WITHOUT EXECUTING DEED OF CONVEYANANCE FROM THE BANK WHAT DIFFICULTY MAY ARISE IN FUTURE?

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DEFENSE ADVOCATE.-firmaction@g (Expert) 17 January 2012
without sale deed nothing is legal.

Advocate. Arunagiri (Expert) 17 January 2012
Title should be transferred to the buyer. Then only he can sell to a third party.

Deepak Nair (Expert) 17 January 2012
Your friend will become the absolute owner of the property only after the execution of the conveyance deed.
Without the conveyance deed he is legally not entitled to transfer the property to any other party.

ajay sethi (Expert) 17 January 2012
agree with experts that title has to be passed on to buyer

Raj Kumar Makkad (Expert) 17 January 2012
Sale certificate provided by bank in favour of your client after confirmation of sale in favour of your client indicates only his ownership in the books of bank for all purposes but for the sake of all other purposes and ownership in the eyes of law, you client shall have to got registered his conveyance deed from that bank.