Legal Question in Real Estate Law in India

Hello Sir/Madam,

I had purchased a flat in Pune in Jan-2011 and borrowed loan from Axis bank. This was a resale and ready possession flat. The first owner sold it and did not furnish me the "Possession Letter" issued by the builder to him. Now, I am shifting my loan from Axis Bank to State Bank of India and have furnished all legal documents to SBI except the "Possession Letter". Unfortunately, the first owner is no more in my contact and also have a strained relationship with the builder as well for so many reasons. SBI is asking to provide the said document to sanction the loan as it is the only document left for the required process. Please suggest how may I collect this document and from whom so that SBI takes-over my loan from Axis Bank. Please note that the process with SBI is at last stage and only this document is awaited for the sanction.

Thanks & regards

Sameer Sinha


Asked on 7/12/13, 8:50 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

13.07.2013

Dear Sameer,

As already advised earlier, you will have to complete the loan transfer process through the Secretary of the Society; and submit the Society's letter as proof of having obtained the possession of the flat.

Regards,

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Answered on 7/13/13, 5:14 am


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