Forum members:

Have got a few questions regarding resale transaction from a buyers perspective.

If a flat that I am intending to buy has been earlier bought and sold by 3/4 people and I am going to be the fifth owner of it; then should I be seeking original registration documents of all the previous transactions on that flat. Is it a normal practice?

Considering that practicality of the situation, if entire chain of registration in original is not available, then is there any chance I could be in jeopardy in any which way?

Could there be a chance of legal quagmire for me, if any of the earlier owners of the same flat, have got loan/entered into deal of any kind by pledging registration documents of this flat while he was owner of the flat/or after he has sold the flat?

Just getting original registration documents confirms that property has not been pledged for any kind of dealing? Or any thing more is required to be done to that effect?

Provided that chain of documents is not available, then what is the other possible way out? Affidavit + Indemnity bond from all the previous owners help here?

I think many resale transactions happen wherein one flat has seen several owners, and hence am curious to know what other fellow members experience has been in such a situation?

Appreciate if someone could throw light on this matter.

Thx,
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  • Very Good Post

    One of best Post I came across..
    Experts please help..
    RealAcres waiting for your reply :)
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  • Following documents needs to be examined
    1. Chain of agreements
    2. Share certificate in current owners name.
    3. Society maintenance bill in current owner
    4. NOC from society
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  • It's better to hire a lawyer for about 2k to do the title search on the property. He will provide all the data about the history of the flat. Tha agreements will be generally in 50s or 100s of pages, so expecting a bunch of past agreements kept together, and then going through every one of them is a tedious task. Better to spend a little and have a piece of mind.
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  • Posession Letter in favour of Alottee
    Allotment Letter in favour of Alottee

    Originally Posted by lucky_123
    Following documents needs to be examined
    1. Chain of agreements
    2. Share certificate in current owners name.
    3. Society maintenance bill in current owner
    4. NOC from society
    CommentQuote
  • Originally Posted by Akash1
    Posession Letter in favour of Alottee
    Allotment Letter in favour of Alottee


    Hmmm..is there any specific format for this.

    BTW all those who replied, I am asking these questions when I am having share cert/maintenance receipt etc. My questions are specific in relation to the chain of agreement originals and not xerox copies.

    Thanks,
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  • Check out the pm.
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