How do I buy a property without a parent document from the recent owner?
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how do I buy a property without a parent document from the recent owner?
India, tamilnadu, Coimbatore. I would like to buy a property in coimbatore. The owner is not having parent document of the property which was registered 1974. that property was pledged on 1992 and the first owner sold it down to the recent owner by said that the original document was missed. But actually that original document was kept in a bank as a surity for his machinary loans and the company was winded up and the case was closed. Now i am going to buy this property after 14 years from the recent owner who has already bought this property on 1994.
Please suggest some advice
How do I buy a property without a parent document from the recent owner?First of all, get in touch with the bank and see whether the loan is closed and the banker's rght is relinquished. The recent owner would have bought this property when the property was mortgaged with the bank. Without he himself getting the title of the property , he cannot pass it on to you.
1. Get in touch with the bank and enquire whether the right is relinquished.
2. if the documents are lost, then a Public notice should be published in newspapers (one in English and the other one in local vernacular) in this regard and the purpose of the advertisement (that you intend to buy if there is no objection from any body)
Exercise caution or better avoid the deal. In India, a civil case does not close quickly , thanks to the black ro(b)bers.
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