Loan Legal Advice for Missing chain documents

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February 19, 2025 at 6:18 pm

Need Loan Legal Advice on Buying a Flat in Pune – Missing Chain Documents

I’m planning to buy a 16-year-old flat in Pune for 1Cr+. Here’s the situation:

1. Ownership History:

• Builder → Owner 1 → Owner 2 (current seller) → Me (potential buyer)

2. Documents :
Missing Documents
• The chain documents from the builder to Owner 1 are missing.

Present Documents
• Documents from Owner 1 to Owner 2 are present

3. Loan Option:

• Loan agent suggested a “registered mortgage” to resolve the issue.

4. Bank Preference:

• I plan to opt for loans from PSU banks ONLY (Bank of Maharashtra or SBI).

Questions:

• What are my options for proceeding with this purchase?

• Will the missing builder-to-Owner-1 chain be an issue when applying for a loan?

• How can I avoid potential risks, such as disputes or claims on the property later?

• Is the registered mortgage solution safe?

Any advice or experience would be much appreciated. I want to make an informed decision before going ahead with this purchase.

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