Lost sale deed
anil chinn
(Querist) 31 October 2009
This query is : Resolved
Sir,
I hv made an agreement with a party for purchasing a piece of land with half constructed house. My intention was to obtain a loan from SBI. After verifying the docs which have been already morgaged with Syndicate bank, a handome advance amnt was paid to the Seller. However, SBI has turned down my loan application saying one of the previouse sale deeds is not the original one(They go after 20 yrs flow). On inspection it is found that a previouse saled deed is lost by the seller and in place of it he got certified true copy; bais on which he secured the loan from syndicate bank. But, the SBI is not ready of accept the certfied true copy. However, PVT banks come forward to give me the loan. My query is : Is there any harm (legally) if i go ahead with purchase?. shall i get any legal immunity, if at all the lost one resurfaces tomorrow by any means (eg fradulent activities)?.If the orginal might be morgaged elsewhere, should i be liable for legal actions as teh present custodian of the property?.
However, the party has the original one which he has got in his name. Another old one is also there in original.
Looking forward for a response.
regards
anil
Sachin Bhatia
(Expert) 31 October 2009
You have to take a copy of FIR loged by the previous owner for lost of sale deed along with an affidavit declaring that sale deed was lost by him.
adv. rajeev ( rajoo )
(Expert) 31 October 2009
It is mortgaged to syndicate bank, always encumbrance goes with the property. First insist the seller to clear the syndicate bank loan, then you pruchase it or take over the loan of the syndicate bank by deducting the amount due to the syndicate bank.
If the due is not cleared by the seller then bank authorities may auction the property to recover the due from the original owner, in such case you will be the sufferer
adv. rajeev ( rajoo )
(Expert) 31 October 2009
before purchasing the any property it is necessary to verify the 15 years encumbrance certificate issued by the sub registrar of the concerned taluka.
If you are interested to purchase the same property then obtain the encumbrance certificate.
A V Vishal
(Expert) 31 October 2009
The legal guys at SBI & its associate banks are over cautious. Cannot help that even I faced such a problem being an advocate myself.
Raj Kumar Makkad
(Expert) 31 October 2009
Untill and unless th property already mortgaged by seller with Syndicate Bank is not redeemed, no other bank can remortgage it and thus no loan thereon can be granted to you. So get the first loan clear first and obtain clearance certificate from Syndicate bank.
So far as loss of one of old sale-deed is concerned, it is not required original one and its true copy can be produced but you say SBI is adamant not to accept it so better lodge a complaint through seller about the loss of sale deed and no miuse of this sale-deed can be made by anyone in case it is found at any later stage.
yogesh
(Expert) 31 October 2009
may get the new one from the Registrar office if it is registered by paying requisite fees
n.k.sarin
(Expert) 31 October 2009
agree with Mr Makkad
niranjan
(Expert) 31 October 2009
Makkadsir's reply is very clear.I agree fully.
Y V Vishweshwar Rao
(Expert) 01 November 2009
Dear Anil !
Take following steps through Vendor only !
1- File police complaint and get a Certificate form Police
2 Paper publication be made calling objections from other banks and Genral Public , regarding ,or , againt the lost original sale deed & property
3- Select a bank which can take over the loan from Sydicate Bank and can advance the Hosue loan to you - after satisfying all the above foramalities
4- In each and every case link doucment need not be original - it defers from case to cae -depending on the facts, extent of the proerty under link docuement and the property sold out of it , and with whom the original link document to be -
i.e;- out of an 1000 square yards covered under original Sale deed ( Link Doct. ) , a part of 100 square yards is sold and the said 100 square yards susbsequently sold several times during the course of time and after 20 years the present purchaser -owner need not prodeuce the orignal Link document of 1000 square yards - depends on the facts of each case !
Arul Kumar
(Expert) 03 November 2009
The answer given by Mr. Rao is good.
