Recently there had been some Frauds about Houses Sold on which Seller had already taken heavy Bank loan. I am not sure what is mechanism and how to avoid this Fraud. As most of societies/Patwar Khans easily issue Duplicate Papers. So even if seller have deposited original papers in Bank still he can apply for duplicate. Can any Banker explain how one can check this issue. When a property is Pledged by Bank then what happens. Doe Bank take possession of Property if not then how to make sure that loan has been not taken on Property. Does most of Banks have same procedure or there is some difference in that.
Ahmad Raza replied on Wednesday, January 13, 2010 05:13 PM
Best way is to give an advertisement in newspapers that u r buying House#x, street#y, z-housing society.....and write that if any one has claim or objection, then he suld contact you at you via phone#abc within 15 or 20 or 30 days.
Then save those newspapers for any future problems to show in court. It might help but i dont know exactly how much help these ads can give in court especially if you have not bouht from original owner. You must contact some lawyer for detailed info. |
