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Satish (Executive)     24 May 2013

Builder not traceable for noc/tripartite agreement

Hi

I am in process in buying a property in navi mumbai, which is 12.5% scheme and having Tripartite agreement mentioned in sale deed. I am buying a property from 2nd owner, as in sale documents of 2nd owner there is no Tripartite Agreement and even in 1st owners documents. As the 2nd owner did not bother to collect the Tripartite Agreement.

As building was built 10 years ago, still Society is not formed and I am buying this property by taking a Home loan from the Nationalised Bank

As the Builder is not traceable to get these documents, as without Tripartite Agreement and NOC Home loan will not be given.

 

What is the remedy to buy this property.

 

Regards

Satish



Learning

 1 Replies

Adv Rohit Dalmia 9324538481 (Lawyer)     25 May 2013

if the builder is not available. you may ask the bank to take your indemnity and undertaking incase any third party claim arises.

 

This way bank interest would be protected. further, you may seek the same indemnity and undertaking bond from the seller too and you need to give advertisement in two local newspaper asking for objections, if any. this way you could ensure that no third party claim arises after you buy the property.

 

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai


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