Legal Question in Banking Law in India

sarfaesi act-sale certificate

i purchased property under private treaty of sarfaesi act.it was not a public auction and now bank has issued sale certificate to me.is it a complete deal or i have to get the property registered under registration act.can the borrower file a suit against me for any kind of objection????


Asked on 3/07/09, 12:27 pm

5 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: sarfaesi act-sale certificate

If the Bank has issued sale certificate, it should be got registered. It has to be stamped as per the schedule to the Stamp Act in force in the State in which it is executed. Ask the Bank to have it properly stamped. Of course you have to bear the stamp duty.

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Answered on 3/09/09, 3:02 pm
Homi Maratha N.N. Maratha & Co.-Advocates

Re: sarfaesi act-sale certificate

I agree with the opinion of Mr. Radhakrishnan.

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Answered on 3/13/09, 6:33 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: sarfaesi act-sale certificate

It may be better to get the property registered in your name. Transfer of title from the original owern's to your name may insulate you better.

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Answered on 3/07/09, 3:41 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: sarfaesi act-sale certificate

It may be better to get the property registered in your name. Transfer of title from the original owern's to your name may insulate you better.

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Answered on 3/07/09, 3:42 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: sarfaesi act-sale certificate

consult a banking lawyer.

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Answered on 3/09/09, 5:03 am


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