Bank loan issue


I have booked a House in the year 2010 at the construction stage and after a year we got possession and but the sale deed wasn't registered due to some unavoidable reasons.

Now I want to sell the house in the same price and I have already paid the builder the entire amount.

The party to whom I am selling is taking home loan and the builder is ready to cooperate for direct Regstry of saled deed to His name ( whom I am selling).

Now the issue is

1) Builder and the Party to whom I am selling will have to enter into an agreement for processing of Home Loan.

2) Since I can't trust the builder as he will give me back my Money so I don't want to take risk and get him Paid thorugh home loan once more as there is chance that he may delay in returning my money.Pls advise on this as How to process the same.

3) Is there any chance that I can enter into a sale agreement with the party and the partry can take home loan and issue the cheque in my name from bank whereas the sale registry will be done between builder and the party to whom I am selling directly.Pls advise.

4) Is there any protocol is there that bank can issue cheque in the name of the person who is applying for Loan rather than the builder who eneters into an agreement.In that case he can directly take the cheque and pay to me directly from his account.

Pls advise on the same.

Thank you for your cooperation.



Retired employee.

You may contact an advocate and enter into a tripartate agreement and also obtain post dated cheques from builder  and mention such cheque numbers in agreement.  Any advocate can handle the matter .(The agreement should mention of builder's sale first to you, accepting of payment from you, agreeing now to register the same to new party, and agreeing to pay that amount to yo9u immediately on receipt of such amount.)



Your problem can be solved  by entering into a tripartite agreement, however this has got nothing to do with the bank loan. You can avoid doing registration on your name by this.

Consult an advocate in the local, get a tripartite agreement drafted incorporating the conditions you want to impose and other issues and get the job done in an amicable way. 




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