Gurgaon | 23 Oct, 2022 (3 months, 1 week ago)

Property Law

Registry of bank auction sale certificate

Intro: Party A is bank defaulter and bank auctions property which is bought by Party B Bank issues sale certificate to Party B Now Party B does not register that sale certificate with sub-registrar office and sells property to Party C Can Party C purchase, and register the property in his name ? Questions: 1. If yes, will bank become authorized seller here or Party B, I guess bank, as Party B still does not hold the clear title 2. Will bank decline to perform registry, because as per their record Party B not C is purchaser 3. Will sub-registrar office decline registry as Party B is 2nd owner in the chain without the registry (and they’re losing the stamp duty) 4. Will sub-registrar claim that, there were 3 owners of the property hence expect stamp duty 3 times, however if Party C registers directly then they get only 2 times 5. Any other provision of the law or the SARFAESI act, that prevents the registry in this case ?
Answers
23 Oct, 2022 | 09:17

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