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Vivek (XYZ)     11 October 2014

Sell agreement issue while transfering loan

Dear Members,

I am vivek, from Ahmedabad Gujarat, i have purchased a flat from my builder in around 2012 and also did a sell agreement and sale deed for the property, i am currently having loan from axis bank and because of xyz reason i am transferring the same to ICICI bank and when ICICI bank has searched for title clear and reports they told me that there was a sell agreement on this property before you. they have asked me to check with builder and confirm them, but at the time of buying property sell agreement was between me and builder. now i am worried that there is sale agreement of other person on my property, how i can get solution and how i can remove that person's name.  i don't know why axis bank has not informed me at the time of loan sanction.

awaiting for your reply.



Learning

 1 Replies

Adv Akhtar Ali Sheikh (Property Law Consultant)     11 October 2014

Find out nature of first sale agreement and whether it was registered? if so your agreement is illegal and you have 0 title over your flat. In all likelihood it is registered otherwise ICICI bank won't be able to find out.

This is the fraud by your builder take him to task for 420 criminal breach of trust etc.


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