Jaggi (analyst) 04 February 2014

Seller bt case in resale of flat

Hello freinds,

I have one query. I have purchased one flat in ghaziabad on which I have taken 25 lakhs loan.I have taken loan from HDFC bank.I have purchaased the flat in october 2012.I have now sold the flat to somebody in 38 Lakhs.The purchaser is taking loan from DHFL bank.He has paid me 13 lakhs in black.Purchaser is saying that first on the basis of photocopy of my sale deed and entire property chain,He will get the sale deed executed in tehsil and then on the same day DHFL lawyer will go with me to HDFC and close my loan.DHFL will pay HDFC 21 lakhs and 4 alkhs cheque they will issue in my name which i will get from them when I will take original papers from HDFC and submit in DHFL.is this method legally correct ?Can the sale deed be executed without getting original papers from HDFC?kindly advise,specially ghazibad & UP lawyers-Please let me know your views

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Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 04 February 2014

the sale deed would require the seller to certify that the property under sale is free from any encumbrance and without any lien.

If there is an existing loan taken against the property the seller should settle the loan and then only execute the sale deed. However, it is always better for the buyer to check this with the local registrar's office.