Purchased Non Existing Property On Bank Loan

792 votes

Sir, you can issue a notice against the seller to return back the money and cancellation of registration of sale deed. If no response within 15 days, you can file a case against him within the jurisdiction. You should pay the loan, if you don't pay the loan bank can recover the loan through attachment of the same property.

Advocate Savitha Savi LawRato

543 votes

I need to take a look at the Documents that has been given to you. Firstly you must file a PCR against the builder and other accused (If bank also has played any role). For the purpose of attchment again i need to see the properties listed in the schedule of Mortgage agreement.

Advocate Jamal Sait LawRato

808 votes

If you obtained a bank loan for purchase of the property, that is, it's a housing loan, then the Bank would also have done a Due Diligence. Banks are very strict and don't grant loans without proper documentation. So chances are that the property might exist. How did you find out that the property is non existent? Track the previous owner and find out. Secondly have you registered the property? Even for registration or agreement to sale the seller has to provide property documents such as original sale deed, encumbrance certificate, khata certificate and tax paid receipt. These documents can also help you trace the property.

LawRato LawRato