Property stayed at DRT after receiving sales certificate

Question

I purchased a property through auction from a bank. The Sales certificate was issued by the bank after full payment. While approaching DRT to receive the property documents, I got to know that the borrower has filed for a stay order. (1) What steps I need to take to ensure that I get the property (2) How long does it usually takes to resolve such matters with DRT (3) In worst case, will I be able to receive my payments made to the bank and how long would this usually takes?

sridhar.a.srinivasan@outlook.com 1 Answer 81 views
0

Answer ( 1 )

  1. instalegal
    0
    2023-04-05T04:59:41+05:30
    Reply

    If for any reason the sale is set aside then you are entitled to entire refund as per the terms and conditions of the auction and sale deed.
    If the defaulter has approached the DRT for stay order however no stay is granted to the defaulter then documents will be released but if stay is granted, it may take around 6-12 months for entire dispute to settle because the defaulter will have to make good the money he has defaulted upon.

Leave an answer

Sorry, you do not have permission to answer to this question .