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I want to purchase a flat from a promoter. The promoter swears that his title to the property is good, unencumbered, clear, marketable and has produced a title certificate from his advocate.  Whether I can rely on this title certificate?

- by Sreedharan, Mandya

The promoters/Builders obtain title certificate from their advocate on production of title documents.  Generally purchasers will rely on such title certificates, which are based on documents produced at some particular time, but not updated. As per the Karnataka Apartment ownership Flats Act 1972, the title certificate should be by an advocate having minimum seven years standing.

You may have the title verified independently from your advocate.  Promoter is bound to provide photocopies of related documents, plans; encumbrance certificate on payment of some fee. You may independently obtain upto date encumbrance certificates, or verify in jurisdictional courts for any pending cases.

Importantly verify whether the promoters has the property mortgaged to any financial institution, the terms of such mortgage and whether any no objection certificate is required.

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These are all the legal questions answered by Advocate S.Selvakumar in various magazines, in various occasion including realestate reporter monthly.

QUESTIONS

Q:- I am residing in the flats in which there are two NTC and one Co-op society. Now one new NTC has been formed for maintaining the flats (for Maintenance Charges) and all the members of the above flats are members of new NTC. I want to know whether in this New NTC any person who is living in the flat with power of Attorney i.e. the actual owner of the flat is ABC and XYZ is living in that flat by virtue of having power of attorney for the flat. Now this XYZ can become a office bearer i.e. Secretary or Chairman or Joint Secretary or any other post in the above New NTC.

Q:- I intend to buy an apartment in Banasavadi, Bangalore.  This apartment was originally booked by an NRI residing in U.K. The proposed sale is from the GPA holder of the said NRI. Upon finalization of deal, the property will be registered by the builder in my name directly as per the agreement between the builder and GPA holder. Please let me know whether should I proceed in the matter? Will there be any legal hurdle upon purchase of this apartment in the manner stated above?

Q:- As our builder failed to construct the parking area, we the allottees have contributed equally and completed it. Now, there is a problem of allocating the parking lot since more than one of us have desire to have a particular parking lot. How should we proceed?

Q:-
Recently my cousin purchased an apartment costing Rs. 21/- lakh.  Out of this, Rs. 6/- lakh was invested by his mother and remaining Rs. 15/- lakh is though Bank loan. When he applied for the loan he made his wife as co-applicant, even though she is not paying her share of EMI. The property is registered in his name. His wife is showing lot of instability in their relationship. He now fears that they might get separated. He doesn’t want the property to go to his wife.
Please advise what he should do so that the property would not go to his wife?


Q:- I am planning to buy an apartment in Brook-field which comes under Mahadevapura CMC. My builder has got the approval for apartment as well as he has paid betterment charges in July 2005. But my builder says they do not have BDA release note and my lawyer is telling if the builder does not have it then don’t buy the apartments. With this circumstance can I be able to register apartment in my name. If yes, how should I go ahead? Please help in this regard.