Hi, I have purchased a property in an e auction. The sale certificate has been issued and it has been registered as well.
I have inspected the property and it was vacated and locked. I thought it has been already taken over by bank but ideallt it was not.
Bank has clearly mentioned that physical pocession of the property has been handed over to me in the sale deed.
The borrower has filed a case on bank in DRT and DRT has not reacted on the case since it is already registerd and the time to comply has been dimissed by DRT but case has not been completed.
Bank says I have to wait till the case is over and it is not responsible for giving the pocession. Since the proeprty was
vacated one year ago I just informed the police that I will be taking the pocession and completed the formality myself
I captured the videao and photos of opening the house using key maker and took over the pocession. I have submitted the same
to the police station and they have given me a document which states how the procedure has taken place in case if court requires it. I have started the construction of second floor and almost going to complete it. This was done to bear my Emis by getting rent since I have taken loan in another bank. There was no valuables in the house since it was vacated very long back and there was some useless stuff which previuos owner has left as he didnt wanted those useless items.
So Is this is problem for me and what should be done to safe guard myself. I have invested lot of money and bank finally ditched me syaing pocession is my problem. I have consulted many lawyers and they asked me to take the pocession and continue as the case is not subjected to you.
They also told that the one who is in pocession will always have the advantage. So just wanted to know taking the pocession myself has any issues.
Please do help me.