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How to buy a property whose owner is not alive?


17-Dec-2023 (In Property Law)

Dear All, I want to buy a house whose owner is no more alive and the house has outstanding loan on it. Only family member left are owner's wife, a son and a daughter. They want to sell the property in order to fulfill there financial needs and to close the loan as they do not have money to complete the loan. What is the way to buy this kind of property.

Answers (2)

Answer #1
759 votes
1. loan is to be paid and property papers released.
2. Transfer property to family members as per succession laws applicable
3. buy the property.

it can be a long drawn process, provided everything goes smoothly. any blocking by any of the family members can spoil the deal
Answer #2
515 votes
Simple . Repay the entire loan by making registered agreement with the said family that once the said loan is paid and the pay that family the required amount , the said family will handover peaceful possession of the said property

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

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