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Auction Property bought, possession not yet given by Bank
28-Mar-2025 (In Property Law)
Dear All,
I have bought a property under Auction & emerged at highest bidder. Made complete payment and received the sale certificate. Before registering the property, the Old borrower (defaulter) trespassed & started staying in the property leading to the Bank to lose its possession status.
Bank has filed a FIR & filed for a repossessio petition. We have not yet registered the property as possession not yet given.
Should we register the property or wait till possession given or ask refund
Since you have already made the payment and received the sale certificate, you have legal ownership of the property. However, possession is crucial, and the trespassing by the old borrower complicates the situation.
Wait for Possession
Register the Property
Seek Refund or Alternative Compensation
Helpful?
Adv. Vaibhavi Muthinty
Dombivli | 25+ Answers
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choice of taking possession or not or asking refund depends on ur choice and circumstances as of now. You have to take steps against bank and encroacher. take proper legal advice. for further assistance contact. my office is at fort and ghatkopar
Helpful?
Adv. Krinjal S. Ahuja
Mumbai | 100+ Answers
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