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RAVI KUMAR (PROPRIETOR)     08 October 2010

LOST DOCUMENT

I intend to buy a property in Bangalore.  The owner is one of the daughter of her father.  All the other sisters and brothers have executed valid release deeds in favour of the current owner.  But the original sale deed of the property is missing.  the owner is not aware of this fact.  I am interested in buying the property.  What are the precautions that I have to take.  Is it harm to buy such property?  What are the problems that could arise later on?  Can you guide me please.

 

regards

 

RAVIKUMAR



Learning

 8 Replies

Daksh (Student)     08 October 2010

Mr.Ravi Kumar,

Either you or the seller/s or on behalf of you your Advocate can insert an Advertisement to the effect stating the fact that original title deed of the property is being misplaced and you have entered into an agreement to buy the property and who so ever is having objection should represent within a period of __ days failing which it shall be presumed that there is no lien title or objection and any concerned person has forfeited his/her right in this regard.

Best Regards

Daksh

Suchitra. S (Advocate)     08 October 2010

I advise not to buy such property until such document duplicate copy is got from the sub registrar's office by the owner. First they have to give a paper publication that the document is lost. Also give a police complaint to that effect and get a receipt. Produce the same at sub registrar's office and get a duplicate copy. Later on you can buy such property.

suresh (Advocate)     08 October 2010

Dear Mr.Ravi Kumar,

You can get the Certified Copy  of the Original Sale Deed from the  concerned sub registrar's office, that document can be verified from your advocate, after that owner’s should  make a complaint in the concerned police station stating that the original sale is lost, there after they should take paper publication to that effect, after these proceedural aspect you can buy such property.

If you need any assistence this regard you can contact me.

Mugundhan (Lawyer)     09 October 2010

In addition to the above precautions suggested by the learned members , you should also verify the Encumbrance Certificate of the property for at least 30 years.

saravanakumar (Lawyer)     09 October 2010

Ravi,

As Suchitra madam said dont buy such property, Giving publication, geting police report non traceable certificate, its not a proper evidence ,We cant say everyone will read newspaper, if they kept for equitable mortgage you cant  verify in Encumbrance Certificate, Now days lot of money lender they will give money by simply pledge the documents and geting signatrue promissory note.,  if you go for bank loan orignal documents is not lost you wont get, my sincere advise please dont buy such property, if you want to buy dress its should be good if you have damages you wont buy like that only ..,

1 Like

RAVI KUMAR (PROPRIETOR)     09 October 2010

Dear Mr.Saravanakumar,

If the document is lot genuinely, and the owners are genuine, can't we purchase the property?  Yes.  I agree it is safe not to buy, but I think considering the people involved, we may purchase the property, by taking suitable indemnity from the seller.  What do you say?

Navaneetha Krishnan (Junior lawyer)     10 October 2010

i accept with suchitra and others suggestions and the next steps you have take is that

 

1. you have to give paper publication that i am going to buy the property and objections if there you can rise

2.then you haave to enter into an indeminity bond

3. you have to get all those release deeds

4. and you have to get in writting from the seller and his legal heirs that they transfer there rights to you

so you can very well purchse theproperty no problem in it

saravanakumar (Lawyer)     11 October 2010

Dear Ravi,

What is in black and white will speak, As a properitor you know , Ok i just want know which year owner bought the property , Let us see the limitation is it covered.


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