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Sandesh   27 September 2017

Purchase of flat: from joint owners one of whom is deceased

Dear Sir,

I intend to purchase a property (resale flat)  from a person A.  The Flat is jointly held by the person (A) and his younger brother (B) as per the agreemnet papers. However the first name in the agreement is that of his younger brother (B).  Both A and B used to reside at teh mentioned property along with their parents. 

The loan for the said property was taken by B and has been informed to us that the loan has been cleared. (Loan closure certificate is not available though)

Unforturnately the younger brother (B) who was unmarried had succumed to a chronic diesease in 2013 and his mother (2014) and father (2016) have also expired.  I am told that they were only 2 sibblings and there is no other legal heir to the property mentioned above. 

During the course of time, to meet the expenses of the ailing brother (B) a loan was taken (worth Rs 13 lakhs) where teh property papers and the share certificate were kept as mortage. 

Now the person B who is the elder brother is keen to sell off the property. He has made an indemnity and declared himself as the right legal heir to the property and there is no any legal heir to claim the same. The society has granted NOC to person B for the sale of the flat. 

Assuming all that mentioned is true and in good faith If I intend to purchase the above mentioned property, what would be the most appropriate and nesssary procedures / legal documentation required to safegaurd me against any future trouble related to the property. 

Regards,

 



Learning

 1 Replies

Master Warrior (AOR)     27 September 2017

A notice is required if you don't have the papers for the property. I would approach the bank/lender and get something in writing. If it's paid there must be a certificate or some information on file saying so. Last thing you want is to purchase it and find out there's an outstanding loan.


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