Hi ,
I am planing to purchase a Flat in a Housing Soceity . and seeking a financial Assistance from a Bank.
Bank needs an NOC in bank format before they issue a DD sellers name. Once DD issued we will execute the Sale Deed.
When our seller is approaching the Soceity for this NOC in bank format. The Soceity is insisting on him signing the set of COMMON forms which also includes his resignation from the membership. To this the seller is not confortable as per him he cannot submit a resignation untill the Sale Deed is Executed.
Now the sale will be executed once Bank issues DD > Bank will issue DD once NOC is in place.
We are also agreeing to pay the Transfer premiums and other chargs upfront and comlying with all other documents as required mentioned in the byelaws except for this set of Green coloured forms (COMMON).
Please advise if this action of society is valid and legal and accordingly what can be the way out or a solution to this.
Also assuming that out sellers sign the documents on soceitys demand, on what all grounds can the soceity NOT issue an NOC ?
Looking forward for a reply soon. Thanks. !!
