Legal Question in Real Estate Law in India

Hello Sir,
"A" has a developer and make a residential scheme and "B" has decided to purchase flat and registered a Agreement for Sale in Registrar Office thereafter Bank give a loan on said flat and give a checque on developer name thereafter "B" has decided to resell the said flat Mr. "C" now my question is :-
(1) "A" has cancel the Registered Agreement for sale?
(2) It is necessary first bank give a NOC/No Due Certificate and thereafter "A" cancel the said Agreement for Sale?
(3) Mr. "C" has also approach the other bank for loan on said flat but when he put his file in Bank?
(4) After all these formalities complete "A" has registered a new Agreement for Sale in Mr. "C" name? further it is necessary to inform Mr. "C" that this a resale property?
State - Gujarat (India)

Asked on 9/20/10, 1:32 am

Shrichand Nahar S.V.Nahar, Advocate

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1. There could be either a cancellation and fresh deed between A and C Or an assignment deed between A, B & C.

2. As long as mortgage/charge of Bank is there, A can not either opt for cancellation or assignment.

3. C can process his loan before hand. For processing a loan, nothing is required, except processing fees.

Answered on 10/08/10, 10:27 pm

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