Legal Question in Real Estate Law in India

Sir,

Recently I have purchased a new build house in Chennai. The Seller of the property was having Power from the Owner issued in 2008.

Before registration I have verified in the SRO and confirmed the Power is valid. But I didnt get any document of proof saying the Owner still exist. I have brought this property through bank loan and they also didnt ask for any document for proof of existance of the Owner.

Is it necessary to get any document from the Owner? Will this cause any problem in future.

Please suggest. Thanks in Advance.

Regards,

Pradeep.


Asked on 3/18/14, 12:59 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

19.03.2014

Dear Pradeep,

Today is Chatrapati Shivaji Maharaj Jayanti !!

Although property sale purchase transactions are directly done from Owner to Owner, the holder of the Power of Attorney has the legal right to execute the sale of the duly verified property.

Regards,

Read more
Answered on 3/18/14, 6:57 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in India