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Litesh Mahakalkar   26 April 2021

Who and in which case can cancel registry of agricultural land in Maharashtra

Hi, I had purchased land in 2020, registry and also transfer of name on 7/12 is done in 2020 itself. Now we realised that there is a small loan outstanding on property which i am ready to pay to bank. but now seller is not ready to sign loan closure form and bank officials are saying we will order to cancell this registry and transfer. what should be done in that case? Can bank cancel the registry of land even after 4 months?


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 6 Replies

Sankaranarayanan (Advocate)     26 April 2021

You queries are need to  be carried clarity  Better to seek a local lawyer advise  and  act accordingly 

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     26 April 2021

1. BEFORE purchasing ANY "immovable property", all related documents "MUST" be duly scrutinized by a Property Lawyer and his "Title Search Report" must be obtained, before executing any agreement.  The mentioned mistakes happen when money is attempted to be saved on legal fees.

2. In the matter instant, file Police FIR against Seller and Bank, for non-disclosure, cheating, misrepresentation, intimidation, fraud, ....

3. Before filing Police FIR, serve a Legal Notice to Seller & Bank, mentioning that you are ready to pay off any & all loans /mortgaged amounts standing against the said land.  AFTER this it will be literally impossible to cancel the Registry or whatever....

Keep Smiling .... Hemant Agarwal 
VISIT:  www.chshelpforum.com

Litesh Mahakalkar   26 April 2021

thank you very much for your valuable inputs.

SHIRISH PAWAR, 7738990900 (Advocate)     26 April 2021

Hello,

Yes, you should have investigated the title of the property before buying from the seller. You must have taken the title report and search report of the property from the advocate. Now you can approach the local police station and file complaint against the seller.

Can bank cancel the registry of land even after 4 months?

Any transaction during the subsistence of loan /mortgage is void. If bank people wish they can take action as and when they get aware of the transaction. 

 

Litesh Mahakalkar   26 April 2021

Bank is now aware about this transaction and they are ok if i payback and close the loan. However its seller who is not willing to sign closure form for bank.

SHIRISH PAWAR, 7738990900 (Advocate)     26 April 2021

In this case, you have to take criminal and civil action against the seller. Contact local advocates and initiate legal action. 


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