This is a very complex case. I had purchased a property in in Gurgaon. I had given 20% of the amount to the seller. The seller has shown me a copy of the original conveyance deed and seemed like a decent man. On the day of the registry, the banker from whom I was taking home loan arrived a little late. We ended up doing the registry using the bankers draft no and the draft no we were using to pay balance by ourselves. The registry was done. Now when the banker came, the seller mentioned that the original conveyance deed is with the builder. The builder later said he doesn't have the deed and he gave it to this seller. So basically now the registry is in the buyers name after paying 25%. The seller does not have the conveyance deed and the bank has refused to give the loan due to sellers inability to give complete papers. Please suggest on ownership of property. Also is it safe for buyer to go ahead with transaction after seller has filed an FIR for the lost conveyance deed.
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1) you should request seller to execute indemnity bond to indemnify you in case any claims are made
2) also public notice has to be issued about loss of original documents
3) If bank is not willing to grant loan you can cancel the deal and seek refund of money paid by you
4) deed of cancellation can be executed with mutual consent
Dear Sir,
You have not mentioned whether you had agreement to sell and what were the contents.Whose account the advance being deposited etc.
Need to have a detailed knowledge before coming to any conclusion.
The original sale deed which was shown to you are the same or duplicate copy.
Now you can have duplicate copy from sub registrar and on that basis you can register the new sale deed attached the FIR copy in it which mentioned original sale deed is lost.
If you bank accept this then they can reimburse balance amount to seller.
There was agreement to sell. Advanced deposited in selllers account. In case if cancellation, do I get a refund of the stamp duty I paid?
You can claim refund of stamp duty paid by you in case of cancellation of agreement of sale
No, ypu will not get the refund of the stamp duty.
You also file a complaint against the seller for 406,420IPC
Hi, a certified copy of the conveyance deed can be obtained from the registrar office ..Every conveyance deed has a registration no. even if he is having a photocopy
Well, if this is the state of affairs then back off from the deal and don't purchase the property. It may be disputed.
No, you won't get stamp duty amount once paid to govt at any cost. only you can ask seller repay you back the stamp duty amount because it his fault and fraud transaction done when he was knowing that he do not have the original sale deed with him then why he went to perform sale deed transaction with you.
SIr
Get the Titile checked from the sub registrars office and get the certified copy of the same.
if the details match then proceed by asking the sellar to put an add regarding the lost documents.
if not, then you have the right to file a criminal complaint on the grounds of cheating and fraud.
the registry will not refund the amount till you have a formal order from the court. for that file a suit for cancellation of the said document.
1. first apply for a certified copy of the conveyance from the sub-registrar's office
2. since seller has already lodged the FIR for lost document, you can request him to issue a public notice in newspapers as well informing the public about the lost document
3. if the document is genuinely lost, that does not mean that the seller's title is defective.
4. it only implies that no bank will give you a loan since banks insist for deposit of original title deeds with it
5. so you may have to self fund the purchase
6. if you dont have the finances,then you can tell the seller that you want to register a cancellation deed and ask him to refund your advance.
7. you can apply to the stamp duty authority for refund of SD [In Maharashtra if the cancellation deed is registered within one year of the registration of sale deed, then the authority gives refund of stamp duty. I am sure that in Delhi too a similar provision will be there]
You are entitle to full refund with interest + amount paid on stamp duty. Not delivering original chain of documents is biggest fault on seller.
Sale deed is registered, title duly transfer. Now hold the payment and take possesio till seller do not provide all originals or full refund
Missing report is way out but seller should have disclosed about missing document at the time ATS.
Now either demand full refund or decrease the price of property and missing report.
Hi
Since there is a default from the seller side, you are entitled to cancel the agreement to sell and also claim
1) Full refund of monies paid and
2) Also claim reimbursement of stamp duty from the seller.
The buyer should wait till there is clarity on who is having possession of title deed as it appears that either the
a) Seller and/or
b) Builder
are playing fraud on the buyers
In all probability one of them must have mortgaged the property to a bank and obtained monies for purpose of construction and hence they are now claiming loss of original conveyance deed.
Even if the Seller/Builder claim to have genuinely lost the title deeds, they should apply to the courts for issue of duplicate title deeds by filing Copies of FIR, Encumbrance certificates and Non traceable report by police. After court order, the buyer can proceed to buy the properties.
Hope this information is useful
Hello,
Dear querist,
In such case, the first thing to do is to as the seller to give the indemnity bond in case any claim is made later to be on the safer side. If the public documents are lost a public notice is to be issued by the seller in one national newspaper and 2 regional newspapers. You can ask for refund of money if bank is not willing to grant loan any further and seek cancellation of the loan agreement. If nothing is going your way, a registered deed of cancellation is the best recourse to do.
In case if there is cancellation of the agreement to sell. You are entitled to the refund of the bayana amount and any stamp duty, if paid.
Regards,
YUGANSHU SHARMA
DELHI HIGH COURT
ADVOCATE
The papers need to be given from builders. If the same is lost by filing FIR a confirmation deed can be executed to the said effect.
In case of cancellation you are liable to sue for the damages in which stamp duty can also be included
1. IT can be safe to buy, PROVIDED the Seller has registered Police Report about the losses AND ALSO gives you a Indemnity Bond signed by him & family, THAT original sale deed is lost /misplaced and that he has not mortgaged property to anybody and with other strategic clauses to indemnify you against any losses, legal litigation, claims etc....
2. IF you decide to cancel the registry, THEN you & seller are required to give declaration affidavit and cancel and THEN you are entitled to claim back the Stamp Duty AFTER cancellation.
The immovable property cannot be sold by the vendor without possessing the original registered sale deed.
You say that the vendor showed you the original registered sale deed earlier but why is turning the plate now on the builder that the same is held with the builder.
This clearly indicates the vendor is upto some mischief in this.
However the vendor will be at loss now because he cannot cancel the registration of sale deed on your name.
The vendor has to fall behind you to get the balance sale consideration amount which has not been disbursed by bank owing to the said reasons.
Besides a complaint with the police, the builder has got to publish the loss of original sale deed in local newspaper and also has to provide an indemnity bond to indemnify you against the losses due to this in future.
There are lot of legal formalities involved in this.
Hence it is advised that you take the guidance of an advocate in the local at least now and avoid taking any hasty step to prevent more losses in this regard.
The loss may by money or time and even energy due to legal dispute that may arise in future at a later stage when you would like to sell the property.
You can get the refund of stamp duty if you cancel the registered document on which you have paid the stamp duty.
You may have to follow the procedure laid down for this process.
Property deals need not always culminate in the execution and registration of an agreement. Sometimes, the deal may not go through and may be abandoned halfway, after the payment of token money or even after some of the payments have been made. The deal may be cancelled by either the seller or the buyer, for any reason.
In Maharashtra:
In case of cancellation of a deal for the purchase of a property and for which the agreements have already been registered, the Maharashtra government allows a longer period of two years from the date of the agreement, for claiming the refund of the stamp duty, subject to certain conditions. This refund is allowed, only if the developer fails to hand over possession of the property booked and this fact, as the reason for cancellation of the deal, is mentioned in the cancellation deed. The rules also provide that the cancellation agreement should be registered.
The buyer of the property can get a refund of 98% of the stamp duty, if an application is made for a refund of the stamp duty. With the refund application, you are required to attach the original agreement, as well as the original cancellation deed, with both the documents being registered. However, you will not get a refund of the registration charges.
1. Why did you not take a copy of the conveyance deed before entering into agreement to sell? It is most unwise on the part of a prospective buyer to buy a property without taking copies of all documents which form an integral part of the chain of title. Not a penny should be paid to the seller for taking copies of documents.
2. If the original has been lost then certified copy of it can be obtained from the office of sub-registrar.
3. It is not advisable to buy a property without first being supplied with the copies of all documents.
4. If you go for cancellation then you cannot be charged cancellation charges if cancellation is necessitated due to failure of seller to supply documents of title.
you can file an FIR against the seller for fraud and cheating And simulatenously, fuile a suit for cancellation of sale deed and seek refund of money along with interest.
issue a legal notice to the seller for cancellation of the agreement and seek damages.
Dear sir,
The correct position regarding the property can be confirmed from the registrar's office.
1. You can stop the proceedings of purchase until seller is ready to provide complete documents of property as it was due to his fault bank is refusing to disburse the loan amount.
2. You can make application for refund of stamp duty but chances that you will get refund are not very good so in case of cancellation of sales agreement send legal notice to seller for recovery of losses you suffered due to his fault.
- Since the registration has already done in your favour , hence legally you become the owner of the said property , and the balance payment to the owner has been stopped due to his mistakes , for which you are not responsible for the same.
- Further , let the seller approach the court to take possession from you , and further the seller can also take certified copy from the office of the registrar , if the original is missing.
- Further, no offence made against you for the fault of seller , as your intention was not to cheat the seller , and your said draft number was ready for the payment to the seller , and further a case made out against the seller as well for breach of trust and cheating due to not producing the original documents before the bank.
- If, you want to proceed further to complete the transaction , then publish in the news paper a public notice that you have entered into sale deed with the seller .
- Yes, in case of cancellation of sale deed , you have right to get refund with interest and also the stamp duty .
Yes you should demand it. This kind of a deal cannot be upheld by any court.