Hi all, I purchased an apartment in Ghaziabad in 2012 with my hard earned money so that this could become my abode after retirement.The possession of the apartment was given to me 2015 & subsequently registery of the said apartment was done in Ghaziabad court in June 2015.Because of my job commitments i used to remain out of town.Recently i was informed that some finance company has pasted a notice on the door of apartment stating that some Mr X had taken a loan from them in 2009 & has failed to repay The finance company had declared the account of Mr X as NPA in 2014.It is very clear that our builder & Mr X might had entered in some sought of sale agreement against which the finance company had given loan to Mr X for the purchase of the apartment which was subsequently sold by the builder to me in 2012 & registery of the said apartment was done in Ghaziabad court in June 2015.Why the finance company choose to remain silent for 4 years because account of Mr X was declared NPA by them in 2014.The builder is absconding since last 2 years & has been declared proclaimed offender by law enforcing authorities.He has various FIR's lodged against him besides numerous court cases. I request all to please guide me as to what course of action i have to adopt. Regards
Dear Client,
Nothing to panic, you are actual owner, finance company can`t do anything against the property. No ownership transfers through sale agreement, so if loan in given on the basis of sale agreement, comapny has made a fault.
Relax. If it`s not court notice than torn it and if court notice than appear on next date and submit your response.
file civil suit immediately and take injunction order.
file cheating case U/S 420 468 against builder.
Sue the builder to recover your money with interest
2) also file Police complaint of cheating, criminal breach of trust against the builder
Sir if it is possession notice under the SARFESI act then in that case they have stick the notice of possession then an appeal can be filed against them in DRT further since you are bonefide purchaser and the builder has cheated you finance company has not made any encumbrance neither disclosed in 4 years and you have registered the flat in your name you have right over the property.
Further kindly tell the contents of the notice based on that course of legal proceedings can be seen.
Hello,
Lodging an FIR and filing a suit for recovery of the money from the builder is the only option you are left with.
Also, law casts the duty upon you to check the title of the land before purchasing and therefore you were required to check the title of the land before purchasing the same.
I understand the difficulty that you are facing, but there is no option apart from approaching the court of law.
Regards
1. first of all check from the registration department if there is any registered agreement between the builder and X
2. in absence of a registered agreement, the finance company could not have accepted the flat as security towards its loan repayment by X
3. No lender lends money to a borrower without a proper registered title document in the name of the borrower
4. if there is no registered document between builder and X, then it would mean that X got possession of the flat from the builder without a registered agreement and he mortgaged the flat with the lender - so ask the lender company to produce all the relevant documents submitted to it by X for the loan and what all documents were executed pursuant to sanction of loan by lender in favour of X
5. Also before you bought this flat, did you carry out a search from the registration department and issued public notice in newspapers of your intention to buy this flat from the builder? if you have done that exercise and you did not receive any objections pursuant to your public notice or did not find any adverse entry in the search report pertaining to your flat, then you become a 'bonafide purchaser for value without notice'
You need not to worry about this but you have to inform police about this notice pasted on your door as you are the legitimate and legal owner of the property which is registered in your name and all the property tax and everything has been paid by you only nobody can take possession of your property on the basis of a fake notice.
In case you face any subsequent problem you can file a mandamus writ petition in the High Court at Allahabad to get direction
1. A prospective buyer should conduct vigorous due diligence before purchasing the property to ascertain that the title of it is free and marketable, which you seem to have miserably failed to do. Had you conducted due diligence the defect in the title would have come to your knowledge. Nobody can pass a title better than his own title.
2. If the property is mortgaged then a prior charge is created in favour of the mortgagee. The finance company has taken constructive possession of the property and can now proceed to take the actual possession of the property under SARFAESI Act and auction it to recover the loan due.
3. Finance company must have sent notices under SARFAESI Act to the borrower.
4. The only remedy for you is to go to DRT against finance company and seek a stay on the taking of possession.
5. Also lodge a FIR under Section 420 IPC for cheating against the builder.
You have to fight it out legally on the basis of the registered sale deed on your name.
You have the original sale deed along with the EC taken before buying this property.
No doubt if the finance company produces the copies of the documents by which they claim this property then you may not have any grounds to defend your interest.
You an also lodge a criminal complaint from your side against the builder.
