Bhaskar (Manager) 09 July 2012
I am planning to buy a plot, i approached a bank to get a loan to buy this property. all aspects are fine including title search everything is fine. now a problem arised on documentation, the said plot has changed the ownership three times in last 10 years. as per the bank i have to submit all previous sale deeds. which my vendor doesnot have. The question is cant we avail the loan without original sale deeds. why bankers are insisting on previous sale deeds.
Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 09 July 2012
Bank is right in insisting the production of all sale deeds as a missing link in the chain of title may lead to complications in future. Apply for a certified copy of previous sale deeds if original are missing.
V. VASUDEVAN (LEGAL COUNSEL) 09 July 2012
You can applly to the Registrar of properties to get the certified deeds and also place an advertisement in a local leading news paper.
vasudevan
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