Vetting on property documents Related Public Land

The Lawyers & Jurists
M.L.Hotel Tower Ltd,208,Shahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka-1000.
www.lawyersnjurists.com

Our Ref: LJ/PJ/08/2006

Dated: August 21, 2006

Mr. A

Vice President and Manager

Bank 1

Uttara Branch

House 14, Road – 14B

Sector 4, Uttara Model Town

Dhaka – 1230

Dear Sir,

RE:     Vetting on property documents A/c. Company 1

We refer to your letter dated 23.07.2006 and 11.07.2006 on the above subject.

We have perused the documents/papers (all photocopies except otherwise mentioned below) referred to us. Our opinion is as follows:

1. Owner of the property

 : Company 2, Sena Kalyan Bhaban (13th floor), 195, Motijheel Commercial Area, Dhaka.
2. Description of the property : All that piece and parcel of land measuring 06 Katha out of 7.65 acre situated within District Dhaka, P.S.Badda, J.L. No. C.S. 295, S.A. 117, Mouza Kathaldia, under the following khatians and Dags:
C.S. Khatian No. S.A. Khatian No. C.S. and S.A. Dag No. Land

In ajutangsha
87/2 & 87 164 & 162 611/1062 1600
87 162 614 7600
87 162 639 7500
87 162 582 5100
87 162 595 6800
87 162 619 3600
87 162 665 7000
87 162 637 2700
87 162 515/1086 4600
87 162 586 3100
87 162 591 5400
87 162 670 8900
87 162 626 2800
87 162 1046 2600
87 162 585 4400
87 162 623 2800
3. Area : 06 Katha out of 7.65 acre
4. Title Deed Referred : Certified copy of Deed of Sale No. 15844 dated 5.12.2000 executed by (i) Ahammad Ali, (ii) Mst. Monowara Begum, (iii) Masud Alam, (iv) Md. Shah Alam, (v) Md. Humaun Kabir, (vi) Md. Shahidul Islam, (vii) Md. Sultan in favour of Company 2.

Original Deed of Sale No. 15844 dated 5.12.2000 or photocopy of the same should be obtained.
5.

 Bia Deed : Not submitted.
6.

 Mutation

 Not submitted.

Mutation Parcha certified by Assistant Commissioner of Land along with DCR for the land in question in the name of Company 2 to be obtained.
7. Khatian Not submitted.

Bank should obtain C.S. Khatian No. 87, 87/2, S.A. Khatian No. 162 and 164 and relevant R.S. Khatians and Mahanagar Jarip Parcha.
8. Chain of Ownership

 : Without perusing relevant all bia deeds and khatians complete chain of ownership cannot be ascertained. However, upon perusal of Deed of Sale No. 15844 dated 5.12.2000 the following chain of ownership can be drawn:

Rabidas Matbar and Kartik Chandra Mondol were owners of land measuring 7.65 acre under C.S. Khatian 87, 87/2, S.A. Khatian No. 162 and 164 under several dags mentioned above under column 2 under ‘Description of the Property’.

Ahammad Ali purchased some land from Rabidas Matbar and Kartik Chandra Mondol vide Deed of Sale No. 13934 dated 06.12.1993 and Deed of Sale No. 1263 dated 01.02.1990 respectively. Please note that we have not been provided with the said deeds of sale.

Mst. Monowara Begum, Masud Alam, Md. Shah Alam, Md. Humaun Kabir, Md. Shahidul Islam and Md. Sultan purchased some land from Kartik Chandra Mondol vide Deed of Sale Nos. 1261, 1267, 1264, 1266, 1265, 1262 all dated 01.02.1990 respectively.

Company 2 has become owner of the land measuring 7.65 acres by way of purchase from (i) Ahammad Ali, (ii) Mst. Monowara Begum, (iii) Masud Alam, (iv) Md. Shah Alam, (v) Md. Humaun Kabir, (vi) Md. Shahidul Islam and (vii) Md. Sultan vide Deed of Sale No. 15844 dated 5.12.2000.
9. Ground Rent Payment Receipt

 : Not submitted.

Up to dated ground rent receipt showing rent payment for land in question should be obtained.
10. Valuation Certificates

: Not submitted.
11. Non-Encumbrance Certificate

 : Not submitted.

Non-encumbrance certificate for last twelve years to be obtained.
12. Municipal Holding Record : Not submitted.

Up to date municipal tax payment receipt should be obtained, if applicable.
13. Wanting papers/

Documents

 a)          Original Deed of Sale No. 15844 dated 5.12.2000 or photocopy of the same.

b)          Mutation Parcha certified by Assistant Commissioner of Land along with DCR the land in question in the name of Company 2.

c)          C.S. Khatian No. 87, 87/2, S.A. Khatian No. 162 and relevant R.S. Khatians and Mahanagar Jarip Parcha.

d)          Up to dated ground rent receipt showing rent payment for land in question.

e)          Non-encumbrance certificate for last twelve years.

f)            Up to date municipal tax payment receipt
14. Opinion : Upon perusal of the documents/papers (all photocopies), we are of the opinion that Company 2 has acquired prima facie ownership over land in question subject to obtain in it’s name Mutation Parcha certified by Assistant Commissioner of Land. Physical possession over the land should be ascertained through professional surveyor and documents/papers referred in Clause 13 above should be obtained.

Mr. Khalid Iqbal on 23.06.2001 booked 02 Plots under Allotment being No. P2-6718 and P2-6719 to Company 2 to purchase the said plots situated in the project ‘Bashundhara’ Company 2.

39 original money receipts for each Allotment being No. P2-6718 and P2-6719 have been submitted. Company 2 has allotted 02 (two) Plots each measuring 03 Kathas being No. 679 and 680 of Block No. N under Project ‘Bashundhara’ (the ‘Plots’) to Mr. Khalid Iqbal vide Letter of Provisional Allotment of Residential Plot No. EWPD/ALLOT/P2-6719/3961/2006 and EWPD/ALLOT/P2-6718/3961/2006 both dated 05.03.2006.

It appears upon perusal of 02 (two) letters dated 02.04.2006 issued by Company 2 that Mr. Khalid Iqbal has made full payment Company 2 payable for purchase of the Plots. By the letters Company 2 has given their no objection to mortgage the property under the Plots.

Mr. Khalid Iqbal intends to mortgage the property under the Plots against the loan to be availed by Company 1. But until the properties under the Plots have not been transferred to Mr. Khalid Iqbal vide registered deed of sale, he cannot create mortgage over the properties under the plots.

In such situation Bank may accept the property as security of loan and may deed of sale in favour of Mr. Khalid Iqbal and deed of mortgage can be executed consecutively.

Please note that we have provided this opinion on the basis of the documents/papers referred to us. We do not confirm the genuineness of submitted documents or encumbrance of the property. You are requested to verify the genuineness of the documents from the concerned   Sub-Registry or relevant authorities.

Should you have any further query please do not hesitate to revert back to us. All papers/documents referred to us are returned herewith.

Yours faithfully,

(_______________)

Barrister-at-Law
 (_______________)

Advocate

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