The resale process of an unregistered property where the seller has not yet taken possession and has outstanding payments to the builder involves several steps and considerations:
- Verification
: Ensure that the seller has a valid agreement with the builder and that all dues are clear.
- Due Diligence
: Conduct thorough due diligence on the property’s legal status, including checking for any encumbrances or legal disputes.
- Agreement
: Draft a resale agreement that outlines the terms and conditions of the sale, including the transfer of any outstanding payments to the builder.
- Registration
: It is crucial to have the property registered to complete the resale process legally.
Regarding obtaining a bank loan for such a property, it is generally challenging as banks require proper registration of property to approve loans. You will need to provide a sale agreement, NOC from the society, and the property’s previous chain of ownership documents.
Get your legal woes resolved by experts at NoBroker. Fill in your details to get a seamless property investment experience.Your Feedback Matters! How was this Answer?
Renting a House? Draft a Rental Agreement Now !
✔
Legally Valid✔
Govt. Registered✔
One-Day Delivery✔
Lowest Prices
Upload your Draft
DRAFT NOW
E-Stamped Agreement
DRAFT NOW
Paperless Rent Agreement with Aadhar E-Sign
DRAFT NOW
Rent Agreement + Police Intimation (MH)
DRAFT NOW
Rent Agreement with Biometric (MH)
DRAFT NOW
Rent Agreement with E-Stamp & Notary (MH)
DRAFT NOW
If your house owner is not returning the deposit, you can take the following steps:
Send a legal notice to the owner asking for the return of the security deposit.
If the owner still does not return the deposit, you can file a case in the civil court for the recovery of the security deposit.
Alternatively, you can file a summary suit under Order XXXVII of CPC for recovery of the security deposit with interest.
If necessary, you can also file a criminal complaint of cheating and criminal breach of trust against the flat owner.
Another option is to file a case against the landlord in your state’s consumer court, which fast-tracks cases related to deficiency of services.
My House Owner is Not Returning the Deposit. What Should I Do?
Ramakrishna
34 Views
2
11 months
2024-06-10T11:04:43+00:00 2024-06-10T11:04:44+00:00Comment
Share