Legal Question in Real Estate Law in India

Re: Bank auction of immovable property

1. you are required to be causious whether the orginial owner has earlier not made the sale or mortgagethe proeprty to any third or fourth party.

2. normally the banks do not bother after the auction of the property to put the auction purchaser in the possession although they are legally liable to? in some cases , the bank auction the proeprty , but they fail to put the purchaser in possession as their might be some other person in possession.

3. you do not require the signatures of original owner.

Re: Bank auction of immovable property

Since it is a commercial transaction involving complicated questions of facts, you may want to personally contact an Advocate alongwith all the documents and engage him for appropriate guidance.

Re: Bank auction of immovable property

Generally bank offer the property in auction on "as is where is" basis without any responsibility towards title and other issues.

Further, the defaulting borrower generally keep creating some hurdles.

Be careful and thoroughly investigate and be satisfied about marketability of title, pendency of any litigation and peaceful use, occupation, possession and enjoyment of the property.