land purchase deal

Manoj (Querist) 05 February 2013 This query is : Resolved
Sir,
Can I purchase flat from a
wife whose husband is
bankrupt & filed insolvency
petition.In Agreement
instead of mentioning her as
wife of IP it was mentioned
as daughter of xxxx

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ajay sethi (Expert) 05 February 2013
avoid pruchasing the property . dont know whether wife has given guarantees of loans . find out whether flat is mortgaged or not .contact a local lawyer . check whether wife has original documents of property

R.K Nanda (Expert) 05 February 2013
no, it is risky.

Raj Kumar Makkad (Expert) 13 February 2013
In case the property is free from all types of encumbrances then there is no legal hurdle to purchase such property.

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