Loss of original document by owner before submission to bank
Dear sir/madam, I purchase a flat in navi mumbai through agent. Before purchasing i clear to owner & agent that i shall take a home loan. On request agent provide me a photocopies of all original documents and i submit it in SBI bank for verification. When i received a clearance from BANK i deal with owner through agent. As per agreement i already issue a cheqe of 50% amount. After some documentation process i received sale agreement between me and owner, paid cidco transfer charges, received mortgage NOC from society and CIDCO. At the time of submission of original document in bank, we observed that following documents was not present 1) original allotment letter 2) INDEX 02 3) Original Payment receipt because of this lack of documents i hold the cheq and asked owner to submit all above document. After few days i received a call from owner that they lost the documents. So please revert back your suggestion what to do in this case,
Asked 2 years ago in Property Law from Greater Mumbai, Maharashtra
1) has seller lodged police complaint about loss of original documents .
2) if original sale deed between builder and seller is present you may not face any problem .
3) but original payment receipt is necessary as it indicates proof of payment .
4) check whether builder can issue duplicate payment receipt to seller .
5) whether bank is willing to disburse loan even in absence of these documents .
6)you can call off the deal if seller does not have original documents
1. It will be highly risky to further proceed on the matter,
2. The owner could have deposited the original documents with some Bank to create mortgage over it to take loan,
3. The lending Bank may take steps to take possession of the said property after few years if the said loan is not paid,
4. In such case you will have no other legal recourse,
5. Do not go for this property without the original documents.
This property is a resale CIDCO property and i am a second owner. In case if owner refuge to file a complain or if he apply for a duplicate copy to CIDCO of above mention documents then how much it will work.
Asked 2 years ago
1) owner has to file FIR for loss of originals
2) on basis of police complaint he can seek duplicate documents .
3) if bank is also sanctioning loan then you have to take call whether you should purchase flat or not
1. Why do you people pay the advance amount before the sale agreement?
2. Has the occupation certificate been shown to you? If the sale deed, mutation certificate and the occupation certificate exist in favour of the present owner then the property may be purchased safely.
3. Original Payment receipt loses any significance if the sale deed and mutation certificate exist in favour of the seller i.e the current owner.
4. Also verify that the property is not the subject matter of a pending litigation in a court of law.
5. It should also be ascertained that the property tax has been paid by the current owner.
1. It is not unnatural to loose documents,
2. it is also not a crime to loose documents,
3. But the fact is that from our experience we lern that property documents are hardly lost by anybody and where ever such cases of loses are reported, in most of the cases it has been found that the said lost documents have been used some where else,
4. I am worried about the fact that the said document might have been deposited with some Bank to create mortgage thereupon while taking huge loan,
5. You shall have to protect yourself fro the above misuse of the documents o cheat you,
6. You never know how those documents will be misused since there is no standard operating procedure for cheating,
7. We Indians are very inovative in this field.
Hi, all these documents are not mother deed better lodge a police complaint through the vendor and also make paper publication in two news paper and you can go ahead with the transaction.
Thank you all of you
Now kindly suggest how i can cancel the deal and how i can get my money back i already submit following documents to bank
1) Sale agreement between owner and me
2) Receipt of CIDCO transfer charges
3) CIDCO NOC to mortgage flat
4) INDEX 02 (between owner and me)
5) SOCIETY NOC to mortgage flat to BANK
I can send a request letter to BANK to return the above documents, but how i can get my money back from owner. I purchase this flat through property agent.
Asked 2 years ago
1) you should have taken inspection of originals before entering into sale agreement .
2) has agreement for sale or sale deed been registered ?
3) you have already paid Cidco transfer charges .
4) inform the owner that since he dose not have all original documents you would like to cancel the deal . to refund the payment already made
1. If you wish to cancel the deal then send a lawyer's notice through your lawyer to the owner. The cancellation can take place only within the periphery of the agreement itself.
2. If the owner does not return the amount even after the notice from your lawyer then move to court and file a lawsuit for recovery.
1. You should have checked the original documents before releasing payment to him,
2. However, first ask for the refund of the advance amount paid since he could not provide the required original documents,
3. If he refuses, lodge a police complaint against him bringing the charge of cheating,
4. Also file a complaint case before your local District Consumer Dispute Redressal Forum alleging deficiency in service and unfair trade practice claiming refund of the advance amount paid with interest, damage and cost.