PROPERTY UNDER BANK COLLATERAL

get the 14 years encumbrance certificate, there you will get about the encumbrance on the property.  And If you want to purchase the property give a public notice in a widely circulated paper calling for the objections form any other person  within a given time.  If no body comes then you can go for it.

The document of sale deed made by Mr. Laxman  to Mr. Kumar in 1965 MUST BE available.  That MAY be a problem.  There will CERTAINLY be a problem if Mr. Laxman had gone for some bank collateral etc,  EVEN IF he had sold it 46 years back. BECAUSE, SALE DEED WILL CERTAINLY BE IN POSSESSION OF BANK by way of Equitable Mortgage. Ask the Bank for NOC etc under RTI Act.

YOU SHOULD NOT proceed with buying this flat without this document / NOC from Bank. 

Regards-N.K.SHARMA

Thank you sir. But, Mr. Laxman has sold to Mr. Kumar about 17 acres of land in 1965.  Mr, Kumar in turn has made it into several plots and has sold it to multiple peoples.  And the flat that we are looking at is about 3 grounds in the 17 acres.  We have the layout of the plots etc.  Even in this case, will it be a problem for all the land owners of the 17 acres plot.

Moreover, we donot know whether he has gone for collateral.  In this case, how do we get a NOC from a bank. 

The EC from 1965 to till date is clear.

The Registrar office pertaining to that locality doesnot have the document as it has been damaged in their records and they could not retrieve it.

In this case how should we proceed

Even in this case, it MAY be a problem for all the land owners of the 17 acres plot. The property DISPUTES MAY GO ON FOR DECADES.

HOWEVER, AS the EC from 1965 to till date is clear, YOU MAY PROCEED.

Give Public Advt. as advised above, deliver a copy to all Deptt. concerned under Acknowledgment and keep all record in safe custody PERMANENTLY.

Thank you sir.  As far as this area is concerned, it has several houses built in this layout.  Understand from the builder that - the legal heirs of Mr. Arun who have made the joint venture with the builder doesn't have the documents, as they came to know about this property only after their father's death ( they are NRI ) .  Hopefully, the neighbours in this layout should have it.  If they do have a copy, can we get it.  If they are not willing to give it, should we give advt. and proceed.  Please advise us .

YOU should NOT proceed BY giving advt. YOU MUST BETTER FIND OTHER PROPERTY WHERE TITLE IS CLEAR. Regards-N.K.SHARMA