Legal Question in Real Estate Law in India

Dear Sir,

I think I have not explained you my question clearly in my previous post. (Secret Key: 6NQYUXltbz)

Two weeks before I have purchased a property from a person (Agent) holding Power of attorney. Owner of the property (Principal) issued this power in 2008.

Before registration I have verified with the SRO and confirmed the power is still valid. I received all the originals from the Agent and done the registration.

Since the power was issued 5-6 years before, the Agent don't have any idea about the Principal. I didnt got any document from the Agent saying the Principal is still alive. Bank also didnt ask for any such document.

Question:

1. Incase, if the principal is not alive before my registration, will my registration is still valid?

2. Why in loan verification they didnt ask for this document? My friend took loan with some other bank on this same scenario and he also confirmed they didnt ask for any proof.

Can you please provide your suggestion.

Thanks in advance.

Regards,

Pradeep.


Asked on 3/19/14, 2:14 am

2 Answers from Attorneys
anuradha Dixit +9312411481 dixitlawfirm

This is a continuation of your earlier query???You can ask the agent to furnish you with the information about the principal being alive. Secondly was the power of attorney for a consideration if yes then the same cannot be revoked.The banks act on internal policies. one bank may refuse the loan on a ground which may be allowed by the other bank.

Read more
Answered on 3/19/14, 7:23 am
Fca Prashant Chavan Expert Edge LLP

21.03.2014

Repeat query. Already answered.

Read more
Answered on 3/21/14, 10:32 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India