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Author Topic: Purchase of Property without OC  (Read 691 times)

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Offline anandanand

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Purchase of Property without OC
« on: November 28, 2014, 01:29:27 PM »
Dear Sir,

We are interested in buying an 8 year old property as a 4th owner in Mira Road, Thane area of Maharashtra State.
This property doesnt have an OC, however, has changed hands since its construction 3 times till date.
A bank loan of a co-operative bank is going on via the last owner who wants to sell the property, similar properties of this type are already been sold in the same area and which have loans through ICICI and LIC india too.

Please let me know if its safe to buy such a property, if yes, what are the pre requisites for the same.

The society claims to have applied for an OC in recent time and are awaiting the approval or rejection of the same.

Offline advkhanna

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Re: Purchase of Property without OC
« Reply #1 on: November 28, 2014, 09:52:42 PM »
if a loan is going on in the property you should visit along with the seller the particular bank and clear all matters before purchase. you need a lawyer for this one, hire a good property lawyer to get this sale done properly.

you mentioned " similar properties of this type are already been sold in the same area and which have loans through ICICI and LIC india too" - this is no justification. God has given you grey matter use it.... you are not a sheep that you follow the herd

Offline anandanand

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Re: Purchase of Property without OC
« Reply #2 on: November 29, 2014, 12:48:05 AM »
Thx u for your valuable answer.

Also, if i were to follow herd mentality, would not have posted a query here. The said statement was for ur perusal, so that u get to know what i meant, as i m not good in law language, which you may be in.

 8)

About the property lawyer, I will def take one along with, however, the point of no OC will still stand and in future if there is any issue about non OC property, will the lawyer be able to get me n my property out of it.

I mean in case someone wants to break it, which may happen in a Non OC property case?


 

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