12.5% ges - title clear property or not
Satish
(Querist) 29 May 2013
This query is : Resolved
I am Buying a Property in Koperkhaine,Navi Mumbai Sector 19, which is in 12.5% GES and having 50% 50% land with builder and Land owner, I am buying from the 1st owner and society is yet not formed The following documents are available with 1st owner.
-Sale agreement with stamp duty paid with builder & 1st owner.
-Lease deed with Cidco & Landowner
-Cidco giving Deed of Confirmation
-Power of Attorney given by Landowner to Builder
-Registered Development Agreement by Builder
-Title clearance certificate by Advocate
-Occupancy Certificate
As per 1st owner the Triparty Agreement is not done and this is 6 year old building .
Please guide me is this property title is clear to buy and i am buying on Loan will bank provide me loan on the existing documents and which bank.
arunprakaash.m.
(Expert) 29 May 2013
1st owner has already given his power and authority to sell the property to the builder. based on that power and authority only builder sold that flat to you. when cidco has eecuted lease deed there in no necessary for tripartiate agreement.
Raj Kumar Makkad
(Expert) 29 May 2013
The title seems clear as per details provided by you but it shall further be safer side if you obtain the legal opinion on the basis of those documents from a local lawyer.
Satish
(Querist) 30 May 2013
Thanks for an answers
.
I have even discussed with the local lawyer about this property documents. according to them, its clear property title.
But the bank are insisting for Triparty agreement only, without which loan will not be processed.
.
What should i do?
