I wish to purchase a residential flat in Kandivali. The building is 20 years old , society is not yet registered. As informed by the owner of the flat, adhoc committee is formed and the members have initiated the society registration process. Moreover, the society registration is delayed as one of the members is abroad. Therefore his consent is yet to be obtained. The seller has all registered agreements with him. The adhoc committee members informed me that the building has received CC and OC and they are ready to provide NOC to the Bank to mortgage the said flat. Therefore I won't face any problem while getting my loan sanctioned from the Bank. Since title is clear. Kindly guide me if there will be any legal difficulties to get the clear title of the flat. Is it possible to get such flat transferred in my name without any legal complications
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Dear Sir.....
As you that property is 20 years old..and when the party come back from abroad..take all the legal papers...and pleas check all the basic requirement of sale and purchase.....if the bank loan was sanctioned..then it i s fill up by the first party or not....
Regards.
Mob-no-[deleted]
1) if builder has obtained OC and CC for building constructed by him then you can go ahead and purchase the flat
2) apply for loan from bank
3) if you so desire wait for formation of society and then purchase the flat
4) contact a local lawyer
My concern is what precautions should I take before purchasing a flat in proposed Co. Op housing society where building is 20 years old and builder is not available to issue NOC. Can adhoc committee issue valid NOC. Moreover, as informed by committee members , the registration process of society is delayed coz though majority members are ready to register society, 1 or 2 members are abroad. The society will be formed only after thier consent is obtained. It may take more than 1 year. Is it true. As per my understanding if majority of members are ready. They can form society without waiting for few members who are not available. Will i get clear title of the flat in such circumstances. Please guide me in this matter.
The adhoc committee members informed me that the building has received CC and OC and they are ready to provide NOC to the Bank to mortgage the said flat. Therefore I won't face any problem while getting my loan sanctioned from the Bank. Since title is clear. Kindly guide me if there will be any legal difficulties to get the clear title of the flat. Is it possible to get such flat transferred in my name without any legal complications
Whatever you have written here in this post are quite convincing and appears that the property is genuine for purchase.
However there can be any hidden danger in this property which cannot be seen by the expert lawyers since they do not have a chance to scrutinise the property documetns or its title link documents or the encumbrance certificate.
Therefore it is advisable that you consult a local lawyer by producing all the relevant property papers before him, have his opinion about the property and its papers and then proceed if cleared by the lawyer.
NOC from society is not necessary for sale of flat
2) you would get clear and marketable title to flat even if society is not formed of the flat owners