• Indemnity bond for property title

X has purchased a property from Y.   X asks for an INDEMNITY BOND from Y  to indemnify for any claims rleated to the title of the property.  Is this valid and can X claim from Y if some third party disputes the title of the property in a court of law.
Asked 3 years ago in Property Law from Hyderabad, Andhra Pradesh
yes it is valid . indemnity bond is generally insisted upon to safeguard interests of the purchaser . since purchaser has paid consideration for purchase of property he needs to safeguard his interests against any  claims made by third parties
Ajay Sethi
Advocate, Mumbai
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It is valid. On the strength of the indemnity bond the purchaser can bring a legal action against the seller in the event of any third party disputes emanating in respect of the property purchased by him.
Ashish Davessar
Advocate, Jaipur
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447 Consultations
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yes both carry the same level of safety . indemnity clause in sale deed should suffice . it is not necessary to  have separate indemnity bond .
Ajay Sethi
Advocate, Mumbai
23151 Answers
1216 Consultations
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It makes no difference in law. There is no legal obligation to have a separate indemnity bond.
Ashish Davessar
Advocate, Jaipur
18061 Answers
447 Consultations
5.0 on 5.0

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