Negotiable Instruments: Exhaustive Coverage by Adv Roma Bhagat. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sale of old house property

(Querist) 15 September 2023 This query is : Resolved 
I am having a Tenament in a co-op housing society. I am intending to sell the property. The purchaser has availed a housing loan from a financial institution. I have provided all the documents to the intending purchaser except Allotment letter of society. He says bank is insisting for Allotment letter and certificate showing my bona fide from the Society for disbursement of the loan. I have submitted possession letter of 1988 and share certificate to the bank. Kindly inform me the legal solution.

kavksatyanarayana (Expert) 15 September 2023
Now, the purchaser shall obtain a possession letter from you and the society for bank purposes. After registration of the flat, the society will levy a transfer fee and the purchaser shall pay the transfer charges.
T. Kalaiselvan, Advocate (Expert) 16 September 2023
What about the allotment letter?
Do you have it or not?
The society will not give you the allotment letter, it should have been given to your vendor by the builder at the time registering the flat to his name?
You ask the vendor about it and obtain that.

Dr. J C Vashista (Expert) 18 September 2023
The allotment letter is an essential document to ascertain your title over the property under sale, hence it has to be provided by you to purchaser.
There is no excuse / pretext to avoid handing over allotment letter.

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now