89+ Lawyers are online 
Husband and Wife Developed a Layout - Only husband registered plots to
03-Apr-2024 (In Property Law)
I am looking to purchase a plot, in a layout of 20 acres wherein
12 acres owned by Husband in Survey No: 1
8 acres owned by Wife in Survey No:2, these are registered separately. However they together went into developing layout Mortgaging plots to HMDA. Then due to Pandemic they decided not to develop layout and sell just plots with road marking.
Here husband alone registered the plots in venture and those plots just fall under survey no:1 . Is it safe to buy those plots?
It's essential to be cautious when buying property from a development that hasn't been fully developed as originally planned. In your case, since the husband and wife own different sections of the land and only the husband's portion is being sold. Ensure the plots for sale legally belong to the husband and that he has the right to sell them. Check the property records and ownership documents carefully. Since the land was mortgaged to HMDA, confirm that any mortgage or lien on the plots you are interested in has been fully cleared. If not, buying a plot might involve taking on the responsibility for those liens. Verify that all necessary approvals, including those from HMDA for selling the plots without full development, are in place. Lack of proper approvals can lead to legal issues later. Since the development plans changed, check if the essential infrastructure, like roads, water, and electricity, is available or will be provided.
Helpful?
Adv. A Murali Mohan
Chittoor | 100+ Answers
CONTACT NOW
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.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
