
Need your valuable advise.
I am about to buy a plot near Whitefield inside a gated community that has obtained layout approvals from BDA. But i am presently stuck at few concerns raised by lawyers(of other prospective owners too) about missing documents as part of mother/title deeds. The issues are highlighted as below
Please note, the developer here is not registering the plots in his/her name from the existing owners, they are purely developing the plot and assisting the transfer process transfer of plots from the owner to individual purchasers. The community has been formed by joining lands under 3 survey numbers. While reviewing the title deeds the following information was pointed out missing from one of the survey numbers -
1) Death Certificates, Family status, family tree of few members who are part of the present Land owners property are missing
2) No indemnity bond or clause in the Sale Deed mentioning that the developer will assist in tackling future legals issues(here in this case the possible claims for share that can arise from legal heirs of any of the deceased member ).
So, with the above, what do you all feel about the overall deal ? I understand that NO land purchase comes with 100% risk free premium, but does the above mentioned risk fall under the category to be ignored ?
Appreciate a quick response !!! Thanks in Advance
Regards
Siva