Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Nasiruddeen Alungal (Director)     06 February 2010

Bank sold land to us that not exist

Dear Sir,

We purchased a land of 49 cents from Vijaya Bank thru a public bid. Before purchasing we inspected the land. At that time no problems were found. After registration, when we visited the land a fence was there in the middle of the land. That means an encroachment found in the land and only 19 cents remaining there. We measured the land with the help of Village Office Authorities and found that only 19 cents are available as per the records. The Bank was cheating us by hiding the facts. We approached the Bank to rectify the problem. But, the bank told us that they have no responsibility for the same. They replied us that, they sold the land to us as a "as is what is and as is where is condition" and hence if there is any encroachment the buyer should take necessary steps. In this situation what we should do? Please advise us as early as possible.


Learning

 3 Replies

N.K.Assumi (Advocate)     06 February 2010

Such incidents reminds me of the transactions between the Birtish Government and the German Property dealer, where an elementary mistakes by a junior Government official thirty years ago now 50 years ago had cost the  British Tax payer 40 million pounds, due to some defect in the agreement. The lucky beneficary the german Property dealer. In such transacrions it is always wise for any one to get the title perfect of your intending purchased by an escrow or title investigator.

Lilly rose (n/a)     06 February 2010

Caveat Emptor (Let the buyer beware). You have not purchased land you have purchased problem.

1 Like

Daksh (Student)     19 February 2010

Dear All,

I sincerely concur with the enlightened view of Ms.Lily Rose.

Best Regards

Daksh


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