I’m looking to buy a flat in a society that has received all necessary approvals and is almost ready to be formed. Many residents already live there, having bought their flats with loans from reputable banks. However, one major bank has refused to finance the property due to a pending legal case related to the title ownership. Should I still invest, considering the society’s approvals and the fact that people are already living there? Would the winner of the legal case have the right to evict the residents who bought their flats legitimately?

Apni Law
Apni Law
Law Forum › Category: Property › I’m looking to buy a flat in a society that has received all necessary approvals and is almost ready to be formed. Many residents already live there, having bought their flats with loans from reputable banks. However, one major bank has refused to finance the property due to a pending legal case related to the title ownership. Should I still invest, considering the society’s approvals and the fact that people are already living there? Would the winner of the legal case have the right to evict the residents who bought their flats legitimately?
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Apni Law Staff asked 1 year ago

I’m looking to buy a flat in a society that has received all necessary approvals and is almost ready to be formed. Many residents already live there, having bought their flats with loans from reputable banks. However, one major bank has refused to finance the property due to a pending legal case related to the title ownership. Should I still invest, considering the society’s approvals and the fact that people are already living there? Would the winner of the legal case have the right to evict the residents who bought their flats legitimately?

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Best Answer

Apni Law Staff answered 1 year ago

The pending legal case raises a significant risk to your investment. Even with society approvals and residents living there, the outcome of the case could affect title ownership, potentially leading to eviction. You should consult a lawyer specializing in real estate law to understand the implications of the case and its potential impact on your investment.

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