I bid for an auction property from a Bank and was convinced somehow by the Bank Manager to purchase the same.
This without checking & making due deligence. This propety was auctioned with a term "as is where is basis"
After the succesful bid it was found that even the society had raised dues agains this property.
The Property in question has a following history.
The property was purchased by a builders relative on the completion of the Building.
Later he mortgaged this to the Bank. But failed to pay the installment and its interest.
Now this person is obsconding and nowhere to be found.
The property was siezed by the bank and auction notice was processed.
During this process the society was formed and except for this owner everyone contributed to its intitialization funds etc.
This property is at good location but not maintained (both interior and exterior) till date.
Presently, I have purchased this peropty and wish to get membership of the society, get this repaired and also settle the outstanding dues.
But the exhorbitant amount is a deterent for settlment.
Can any learned advocate put some light on the issues as below :
1. What are my rights as purchaser whether I will have to pay the principal and interest till date as levied by the Society
2. Is their any court where i can present my case and get releif from this harassment
3. I have been told that the membership or repair or any connection (both electrical / water) cannnot be given unless I pay the old dues.
4. I am ready to pay the maintenance from the date of my occupation ie. 1 year but they insist to get the old dues too.
5. The Bank has asked to settle the same with mutual understanding as they have sold this property "as is where is"
6. The Soceity till date has not issued any notice to the holder of this property underSection 101 vide amendment to the M C S Act 1960
7. Is there any way I have can settle at the minimum cost.
Please advise or can mail me on sampatmane@yahoo.com / Mobile 8097681958
