Fraudulent sale of immovable property

Murugesan (Querist) 15 March 2017 This query is : Resolved
Sir please help me.
I am a Law student; I will attain the Moot Court competition. That Problem is under here.
I am working in Libya. I send money through bank to my nephew for purchasing immovable property. He was purchased a property in his name. After purchase the property he sold out a third party. I returned from Libya and came to know that the property was sold out. The third party told I am a bonafide purchaser. What can I do? I have bank transaction only. Please send me any relevant citations about this.

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s. ganesan (Expert) 15 March 2017
Regarding the problem. let us assume A is libya and Nephew is B and C is bonafide purchaser. A sent money to B to purchase property. Only details of money receipt is with A. But the B purchased the property in his name. Now the title document rests with B alone. The right of Bonafide purchaser is only restricted to title of the property and deriving of title predecessor in title(devolvement of title). If the C has taken all steps regarding the encumbrance and transfer of title. then the third party's right is not at all affected. The only recourse to A is to seek remedy from the B only by claiming the money only.
citation has to be searched by you as you are a budding new aspirant. clues section 41 of T.P. Act, sec. 3 and 4 of Benami transaction prohibition act