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Inquire regarding SARFAESI Act property
3 years ago
Want to buy loan defaulted property from housing finance company .the property or flat is seized by fiance company under sarfaesi act.need guidance on what all aspect to check or verify before purchasing it.
A.Hi,
As the property is acquired under law, most of the procedural and technical aspects should be in order. All you'll have to check for is that the company is in actual possession of the property and it is not occupied by someone else. You can also check whether there are any disputed claims with respect to the property, as this can become a problem for you after your purchase.
As the property is acquired under law, most of the procedural and technical aspects should be in order. All you'll have to check for is that the company is in actual possession of the property and it is not occupied by someone else. You can also check whether there are any disputed claims with respect to the property, as this can become a problem for you after your purchase.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
As the property is acquired under law, most of the procedural and technical aspects should be in order. All you'll have to check for is that the company is in actual possession of the property and it is not occupied by someone else. You can also check whether there are any disputed claims with respect to the property, as this can become a problem for you after your purchase.
As the property is acquired under law, most of the procedural and technical aspects should be in order. All you'll have to check for is that the company is in actual possession of the property and it is not occupied by someone else. You can also check whether there are any disputed claims with respect to the property, as this can become a problem for you after your purchase.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.property seized by fiance company is safe because it follows legal process.
you have to check for physical possession.
no tenant should be there in the property.
Hope this clarifies,
Advocate Ankur Goel
you have to check for physical possession.
no tenant should be there in the property.
Hope this clarifies,
Advocate Ankur Goel
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