Posession letter lost by seller . can i buy the property ?

Sachin Gupta (Querist) 17 August 2021 This query is : Resolved
Hi Experts,

I am interested in buying a property but the seller has lost the orignal posession letter (He has the photocopy ). The convence deed , builder buyer agreement and the orignal allotment letters are present .

Can I buy the property without posession letter (orignal) .

Will I be able to resale it ? Please guide

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Quick Summary

If a seller has lost the original possession letter but possesses the original allotment letter, builder-buyer agreement, and conveyance deed, you can generally still purchase the property. The loss of the possession letter typically has no legal consequence if the seller can hand over physical possession. A bank may require an indemnity bond as a condition for a loan, which is usually advisable to sign.

Dr J C Vashista (Expert) 18 August 2021
What other documents are available with the vendor (seller) ?
However, loss of possession letter has no legal consequence / importance, if seller is in possession of subject property and hands over its possession to vendee (purchaser)

Advocate Bhartesh goyal (Expert) 18 August 2021
When seller has original allotment letter ,and conveyance deed then no legal requirements of other documents.you may purchase property on basis of available documents.

Sachin Gupta (Querist) 18 August 2021
Thank you so much sir for your reply , all the other documents like allotment letter from builder , builder buyer agreement , complete chain of property in available , conveyence / sale deed is also there in orignal .

HDFC Bank has approved the loan only on one condition that I have to give idemnity bond to HDFC for the missing orignal posession letter. Is it advisable to sign the idemnity bond for missing orignal posession letter and buy the property ?

Dr J C Vashista (Expert) 18 August 2021
There is nothing to worry, just execute an indemnity bond, if the Bank is insisting, otherwise, it is legally not required.

kavksatyanarayana (Expert) 18 August 2021

agree with the advice of the above learned experts.

Sachin Gupta (Querist) 19 August 2021
Thank you so much all the experts for your guidance

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