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Claiming of property title through Indemnity Bond.
01-May-2023 (In Property Law)
X has purchased a property from Y. X asks for an INDEMNITY BOND from Y to indemnify for any claims related to the title of the property. Is this valid and can X claim from Y if some third party disputes the title of the property in a court of law.
Yes, it is valid. Indemnity bond is generally insisted upon to safeguard interests of the purchaser. Since purchaser has paid consideration for purchase of property he needs to safeguard his interests against any claims made by third party.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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