Chain of title complete, but not completely transparent!
Anil Kumar
(Querist) 20 May 2014
This query is : Resolved
I am looking forward to buy a house (on freehold land) in Jaipur, Rajasthan. Please consider the following facts:
1. The patta of the land was made in the name of Mr. A (suppose) in 1945. The land is around 50000 sq. ft. in area, and today around 30-40 houses are built on that land. Patta wasn't transferred to anyone later on.
2. My selected house is one such house on that land. The second document in the chain shows that the sons of Mr. A have sold the land to subsequent buyer, and that document is registered. But there is no document of transfer from Mr. A to his sons (a problem according to bank's lawyer).
3. The fourth buyer was Mr. B (suppose), and after his death, his 3 sons made a notarized declaration that since Mr. B is dead, the property is now in their name, but there is no registry of such declaration. Also, Mr. B had 5 SONS (all are alive currently), and there is no mention of the other 2 sons in any documents!
4. The fifth buyer is the one from whom i am trying to buy. He bought the property in 2003, and took a home loan from PNB bank on the basis of the same documents. But, it might have been easier for him since the manager was a friend of him.
Please advise me whether i should buy this property or not? By the way, the HDFC bank lawyer told me that there is no way i can get a clear title of this house. But, a local high court advocate told me to give a public notice and then no one can claim title to this house in the future.
NOTE: I already own a house in the city and currently living in it. I am so much interested in this particular property, because it will prove to be a good investment and also the rental income will be decent from it.
Please read the complete question before answering, and Thanks in advance, since the experts will reply within very short time, and that is just awesome on their part!
ROHIT SHARMA
(Expert) 20 May 2014
1. The local high court advocate's advsie given to you i.e. to give a public notice and then no one can claim title to this house in the future is the most suggested manner to confirm that such house/land is free from legal encumbrance.
Rajendra K Goyal
(Expert) 20 May 2014
Even after the news paper ad, clear title would not confirm. The Bank may not allow credit . loan on this property.
Anil Kumar
(Querist) 21 May 2014
The expert opinions seem contradicting. I request more experts to answer my query. And please tell me one definite answer by reading and coutering (if necessary) other's suggestions.
Even if i somehow buy this house, will i be able to sell it in the future without any hiccups? Will the future buyer get clear title from me?
ajay sethi
(Expert) 22 May 2014
you should avoid purchasing the property . title is not clear and marketable .
