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R   26 May 2022

Buyer asking for chain title deeds.

I am selling my apartment, which I had bought from a builder, to a buyer who is availing a loan. I have provided him all the documents , however he says the bank is asking for Chain Title Deeds, as in Deeds through which the Builder purchased the land for development and all the deeds before that from all the previous owners. Are these documents necessary to acquire loan ? Should I ask the builder from whom I purchased the flat to give me these documents? Should I collect originals from builder or will he provide xerox?


 5 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     26 May 2022

Yes.  You obtain the xerox copy of all the previous documents necessary to sanction the loan as the legal advisor's views are naturally different.

Advocate Bhartesh goyal (advocate)     26 May 2022

You have to obtain zerox copies of chain documents from builder.Bank will not sanction loan on apartment until chain documents of apartment is not provided to them.

Kishor Mehta (CEO)     26 May 2022

Bank has no business asking for title deeds of the purchase of plot from buillder when it is offering a loan for a flat. Bank can demand for a chain of documents pertaining to the flat for which the loan is requested. 

G.L.N. Prasad (Retired employee.)     26 May 2022

First, obtain EC from Registrar's office and inquire with the Society, as they must have kept such builder's documents while taking charge.  Also, inquire with other flat owners as they may be having link documents and at least one might have gone for a Bank loan..  There is nothing wrong in asking for such link documents from Builder and they have to provide such documents. 

Dr J C Vashista (Advocate)     27 May 2022

Undoubtedly you are supposed to satisfy the vendee, if you are interested to complete the transaction.

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