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Venkatasubramanian P   25 October 2017

Flat purchase

I purchased a flat and have it registered. the promoter of the apartments have availed a pro a ject loan and have given to the lending banker the documents of the project site as collateral He has executed MOTD. the promoter has given other securities as well. Neither the lending banker nor the promoter has disclosed this fact. The promoter has defaulted and the bank er may initiate action. The banker avers that the there should be a three party agreement .in my case I have not availed any loan and I have paid my consideration to the promoter through cheque. I have registered my sale deed for UDS and construction agreement for the building .I have moved into the flat and is living there. Will the banker enforce my flat as security for the loasn amount from the builder.Please clarify how safe is my property


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Venkatasubramanian P   08 January 2018

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