Nishant (ACVD) 01 March 2012

Builder cheated

Hi ,

I bought a property and got that registered with an absolute sales deed last year in May.

But now all of a sudden bank gave me a notice saying they have a sales agreement from Aug 2008 which was between builder and third party and bank gave loan to the third party. Now due to some dispute or some conspiracy purchaser stopped paying loan installment and now builders is also not picking up banks phone as he is staying in Singapore but he visits India. Now bank tells me that this property would be legally banks property as per sales agreement signed by builder and the third party, but since builder eventually sold it to us and we have a registry of the property as well.

Can you please advise what should be the best course of action. Shall I go to civil or criminal court ?

And also having just a sales agreement is bank justified that they have right on the property since we're legally the owner as we have the sales deed/registry of the flat.

Please advise asap. Thanks a lot in advance.

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3 Replies

SANJAY GUPTA (Advocate) 02 March 2012

Whether the Banks Agreement for sale is registered or not?

Bharatkumar (ADVOCATE ) 02 March 2012

Any document registered between bank, builder and third party at registrar office. Now the possession of this property in your hand or u r owner or u r stay there. If u r excute a registered sale deed at registrar office and the builder give a possession of this property with title so u r absolute owner of this property. U contact local lawyer and meet him/her with property documents.

Nishant (ACVD) 02 March 2012

@Sanjay and Bharat : I am not sure if sales agreement is registered or not. But what I know while we were registering our lawyer had checked encrumbrance certificate and also made sure their is no absolute sales deed registered for that flat in local registrar office. Now we are staying in the flat and we have absolute sales deed or you can say registry of the flat and now I am about to get khata transfer as well in a day or two. Can you please advise what is the best course of action. I mean shall we go for cheating case on builder or shall we send notice to bank saying we're the owners. Many thanks in advance.