• Buyer Seller Agreement Lost by Owner

I am planning to to buy a 1 year old apartment in Gurgaon. Buyer has lost originals of Bulider-Buyer Agreement (BBA) and Allotment letter (AL). Owner has provided me only Conveyance deed between Builder and Owner, and Possession Letter. Payment details are part of Coveyance deed. Is it advisable to buy such property without such documents? Or what is the solution if I am still interested in property?
Asked 5 years ago in Property Law
Religion: Hindu

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16 Answers

Conveyance deed supersedes BBA 

 

2) since he has original conveyance deed you can  purchase the property 

 

3) certified copy of BBA / allotment letter can be obtained from builder 

 

Ajay Sethi
Advocate, Mumbai
94713 Answers
7530 Consultations

5.0 on 5.0

You can only proceed to buy the property after you have got the due diligence of all the documents provided to you by the seller by an advocate.

 

you can proceed to buy the property without builder buyer agreement and allotment letter provided the title is free of any defects.

Siddharth Jain
Advocate, New Delhi
6303 Answers
102 Consultations

5.0 on 5.0

FIR is lodged only in case of loss of original sale deed etc.

In the present facts and circumstances of the case filing of FIR and publishing is optional.

Siddharth Jain
Advocate, New Delhi
6303 Answers
102 Consultations

5.0 on 5.0

Indemnity bond can be executed by seller to indemnity you in case any claims are made by third party 

 

in alternative sale deed can contain indemnity clause 

 

seller can lodge FIR that original BBA has been lost 

 

issue public notice that BBA dated x executed by builder in favour of seller has been lost 

Ajay Sethi
Advocate, Mumbai
94713 Answers
7530 Consultations

5.0 on 5.0

Dear Client,

Property is just one year old, Lost documents can be arranged, ask buyer to arrange missing complain, Get the certify copy with you. and certified copy of BBA/AL.

Yogendra Singh Rajawat
Advocate, Jaipur
22633 Answers
31 Consultations

4.4 on 5.0

Hello, 

1)  You can still buy the property. Ask the original buyer to apply for a duplicate copy from the office of the sub registrar of the BBA. He needs to lodge an FIR first about the loss. 

2) Additionally you need tho get a property search conducted to ensure what were the transactions till voice regarding the property. 

3)  The absence of the original original allotment letter cannot hurt much. You can proceed once due diligence is taken as advised. 

S J Mathew
Advocate, Mumbai
3547 Answers
175 Consultations

5.0 on 5.0

Future complications will arise and only public sector banks raises question. Private banks provides laon after some adjustment.

Yogendra Singh Rajawat
Advocate, Jaipur
22633 Answers
31 Consultations

4.4 on 5.0

You can buy the property after a proper search ensuring that the current seller is the present lawful owner of the property.

Ask the seller to lodge FIR and publish in the newspaper for lost documents. As a prospective buyer you can also publish the same in the newspaper with the consent of the seller.

Certified copies are as good as original. However it depends on particular banks loan sanctioning procedure and norms.

 

 

 

 

Kallol Majumdar
Advocate, Kolkata
2837 Answers
14 Consultations

5.0 on 5.0

if FIR is filed about loss of originals , public notice is issued bank loan can be sanctioned 

Ajay Sethi
Advocate, Mumbai
94713 Answers
7530 Consultations

5.0 on 5.0

It is not advisable without Compete documents. But if you can take risk then you can do the same. Also execute an indemnity bond with him that if any loss occurs he will indemnify the same

Prashant Nayak
Advocate, Mumbai
31949 Answers
179 Consultations

4.1 on 5.0

For the format of public ad, you can check free press journal newspaper which contains many such ads

Yusuf Rampurawala
Advocate, Mumbai
7510 Answers
79 Consultations

5.0 on 5.0

1)The Builder-buyer agreement is the most important document as it gives you rights in the property you are buying. 

2)It would be better for you to take proper legal guidelines by showing complete files of your case to an Property advocate so that you can take a right path to handle your issues

 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

  1. As per the information mentioned in the present query, makes it clear that you need to know whether you should go ahead and buy the property in question or not and if yes then whay precautions should be there to protect your case.
  2. Yes, you can go ahead and buy the flat, but before that just make an inquery about the dispute over the property from the local police station as well as from the registrar’s office.
  3. Complaint now can be made online, put the details of the document that he has lost, and try to put the date of last few days and if not then also it’s absolutely fine.
  4. Then get the details published in the new paper one local and one national stating the details of the complaint number which you would be getting after registering it online.

Sanjay Baniwal
Advocate, South Delhi
5474 Answers
13 Consultations

5.0 on 5.0

It is not advisable to buy the property with incomplete documents.

The documents of BBA and Allotment letter are some of the vital documents, the vendor is supposed to provide the same or he has to give a convincing explanation that why he could not provide them.

It is suggested that you take a legal opinion from a local advocate before proceeding with the proposal to buy this property.

T Kalaiselvan
Advocate, Vellore
84914 Answers
2195 Consultations

5.0 on 5.0

You are right in your understanding about the procedures to be followed in this regard.

You do not have to provide any format for newspaper publication for issuing a public notice.

A local notary public will be able to guide you on this correct format based on the affidavit the vendor shall make it before the notary public in this regard.

T Kalaiselvan
Advocate, Vellore
84914 Answers
2195 Consultations

5.0 on 5.0

The bank may not be able to sanction loan without the essential documents which are related to this property.

However the procedures followed up for obtaining the certified copies, if legally correct, then you do not have to be worried about the bank loan or selling the property.

 

T Kalaiselvan
Advocate, Vellore
84914 Answers
2195 Consultations

5.0 on 5.0

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