Registration of bank auctioned property
Hello Sir/Madam, We recently bought a property through bank auction. We paid 25% of auction amount and took a mortgage for 74% through the same bank. We paid 1% TDS on the property with our name. Now when we want to complete the registration process... we got to know there is a civil case(cheque bounce) pending on that property previous owner and the sub registrar is saying they cannot allow the registration to happen unless the civil case is settled. Bank is saying that the case is not related to the property, but it would take some time to get the order from court to go ahead with the registration. And they gave us the keys to the property and told us to occupy it and not wait for the registration. We are not sure if it is okay to occupy the property without completing the registration as the bank is claiming and would like to get a legal opinion on this.
Share on
×