Construction agreement lost
Lakshmi
(Querist) 22 June 2012
This query is : Resolved
Dear Sir,
I am in the process of buying a 5 year old flat. While the original sale deed is available for the undivided portion of land, the seller has only xerox of Memorandum of Agreement for the flat. How should I go about this issue?
1. The seller says we can go ahead with registration and he will handover when original is found.
2. As this is second sale, the construction agreement and undivided share is anyway clubbed in my sale deed. Would it suffice the need even without the original MOA?
Devajyoti Barman
(Expert) 22 June 2012
The property might be mortgaged by deposit if title deed.
It is not advisable to buy a property in absence of original title deed.
SAINATH DEVALLA
(Expert) 22 June 2012
Buying property without original documents,you will uneccessarily landing into legal problems.My response will be not to go for it.
Khaleel Ahmed Mohammed
(Expert) 22 June 2012
If it is registered agreement you can get certified copy from the registration department.Further you are advised to check EC. You can proceed with the sale if EC is clear . Issue public notice before registration.
Shonee Kapoor
(Expert) 22 June 2012
Not advisable to buy such property.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
K.K.Ganguly
(Expert) 25 June 2012
Be careful. It is a widely practiced method by unscrupulous vendors to sell same property multiple times, once with original deed and rest with certified copies. It is also a practice to mortgage the property to a Bank with the original deed after taking high value loan, then selling off the same property to others. You may come to know about the mortgage after several years when the Bank will start SARFAESI proceedings & take possession of the property since the loan account has become NPA.
Purchase not advised.
