Property purchase

naresh chamarthy (Querist) 04 October 2012 This query is : Resolved
The Reserve Bank of India has cancelled the licence of Hyderabad-based Charminar Co-operative Urban Bank. The Registrar of Co-operative Societies, Andhra Pradesh State depatment are publish tenders for sell the above bank properties by co-operative act.is this legall procedure to buy the properties from them any problam arise future please advice me

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ajay sethi (Expert) 04 October 2012
read the terms and condions of tender carefully before buying the bank properties . consult a local lawyer if you dont understand the tender wordings

Guest (Expert) 05 October 2012
In addition to Shri Sethi's advice, it would be beneficial for you if you get a non-encumberance certificate for the property from the Tehsildar of the area.

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