The Lawyers & Jurists
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Our Ref.: LJ/PJ/02/2006
Dated: February 20, 2006
Mr. A
SVP & Manager
Bank 1
Kawran Bazar Branch
HRC Bhaban
46, Kawran Bazar Commercial Area
Dhaka
Dear Sir,
RE: VETTING OF PROPERTY DOCUMENTS/PAPERS A/C. COMPANY 1
We refer to your letter dated 14.02.2006 on the above subject.
We have perused the documents/papers (all photocopies) that you have referred to us and our opinion is as follows:
Land under Mohammadpur Housing Estate:
1. | Owners of the property
|
: | 1. Mrs. B wife of Mr. X
2. Mr. C 3. Mr. D 4. Mr. E 5. Mr. F 6. Mr. G 7. Mrs. H (2-7 sons and daughters of Mr. X) 8. Mrs. I wife of Mr. Y 9. Mrs. J 10. Mr. K both son and daughter of Mr. Y all having address at Q/2, Block – 2, Block –D, Nurjahan Road, Mohammadpur, Dhaka. |
2. | Description of the property | : | All that piece and parcel of land measuring 595 square yards or 7.46 Katha situated within District Dhaka, P.S. previously Tejgaon presently Mohamadpur, Sub-Registry Office-Mohammadpur, Mouza Baraba, Plot No. Q/2, of Block No. D of Plan No. 127/1 of 61/62 dated 20.07.1961. |
3. | Area | : | 595 square yards or 7.46 Katha. |
4. |
Title Deed Referred |
: | Indenture of Lease No. 10951 dated 27.07.1963 executed by the then Governor of East Pakistan now Peoples Republic of Bangladesh in favour of Md. Abu Bakar. |
5. |
Bia Deed |
: | Not required. |
6. |
Mutation |
: | Memo No. A, Al-13/63/5200 dated 10.08.2005 issued by Ministry of Housing and Public Works have been submitted from which it appears that the House under Plot No. Q/2, Nurjahan Road, Block-D, Mohammadpur has been mutated in the names of Mrs. B, Mr. C, Mr. D, Mr. E, Mr. F, Mrs. G, Mrs. H, Mrs. I, Mrs. J and Mr. K.
Mutation record with Revenue Authority for the land in question to be obtained. |
7. | Khatian | : | R.S. Khatian No. 7125 and Draft Mahanagar Jarip Parcha No. 7836 has been submitted. |
8. | Chain of Ownership | : | Upon perusal of Indenture of Lease No. 10951 dated 27.07.1963 it appears that the then Governor of East Pakistan now President of Peoples Republic of Bangladesh gave lease of land measuring 595 square yards to Mr. X vide Indenture of Lease No. 10951 dated 27.07.1963.
In the R.S. operation land measuring 12 decimal under Dag No. 7317 was recorded in the name of Mr. X. During his ownership of the land, he died leaving behind wife Mrs. B sons Mr. C, Mr. D, Mr. E, Mr. F, daughters Mrs. G, Mrs. H as his legal heirs of the land. In the Mahanagar Jarip, land measuring 1236 ajutangsha under Dag No. 8042 was recorded in the names of Mr. Y, Mr. D, Mr. C, Mr. E, Mr. F,Mrs. B, Mrs. G, Mrs. H. Then, Mr. Y died leaving behind wife Mrs. I, son Tawkir Mr. K and daughter Mrs. J as his legal heirs for his portion in the land. Thus present owners Mrs. B, Mr. D, Mr. C, Mr. E, Mr. F, Mrs. G, Mrs. H, Mrs. I, Mr. K and Mrs. J have become owners of the land by way of state above. |
9. | Ground Rent Receipt | : | Ground rent receipt No. 415328 has been submitted from which it appears that ground rent has been paid up to 1412 B.S. in the name of Mrs. B and others for land measuring 1229 ajutangsha. |
10. |
Valuation Certificates |
: | Not submitted. |
11. | Non-Encumbrance Certificate | : | Not submitted.
Non Encumbrance Certificate for the land measuring 7.46 Katha for last twelve years to be obtained. |
12. | Municipal Holding Record | : | Municipal tax payment receipt No. 339427 showing payment of municipal tax for Holding No. Q/2 up to tax year 2004/2005 in the name of Mr. X has been submitted.
Bank should obtain up to date Municipal tax payment receipt. |
13. | Wanting papers/
Documents |
: | a) Proposal Sheet for Mutation issued by Revenue Authority for the land in question.
b) Non Encumbrance Certificate for the land measuring 7.46 Katha for last twelve years. c) Up to date Municipal tax payment receipt. d) Valuation certificate. |
14. |
Opinion |
: | Upon perusal of the documents/papers we are of the opinion that Mrs. B, Mr. C, Mr. D, Mr. E, Mr. F, Mrs. G, Mrs. H, Mrs. I, Mrs. J and Mr. K(the ‘landowners’) have acquired prima facie right, title and interest over the land in question. Physical possession of the landowners over the land should be ascertained and wanting documents/papers referred in Clause 13 above should be obtained.
Memorandum of Declaration dated 10.03.2005 has been submitted from which it appears that Mrs. B come to an understanding with Company 1 (‘GBBPL’) to engage GBBPL to construct a 07 storied building comprising 24 apartments over the land. In the Memorandum of Declaration dated 10.03.2005, Mrs. B undertook to cancel the agreement previously executed between the landowners and Palalik Prakalpa Limited through which it was engaged to construct building and apartments over the land. Deed of Cancellation dated 10.03.2005 has been submitted from which it appears that Mr. Y, Mr. D, Mr. E, Mr. F,Mrs. B, Mrs. G, Mrs. H executed a Deed of Agreement dated 20.08.2004 with Palalik Prakalpa Limited to construct building over the land. Subsequently, a Deed of Cancellation was executed in between parties of the Deed of Agreement Dated 20.08.2004 cancelling the Deed of Agreement Dated 20.08.2004. Please note that we did not found signatures of Mr. E,Mrs. B, Mrs. G, Mrs. H and any seal of Palalik Prakalpa Limited in the signing part of the Deed of Cancellation dated 10.03.2005. On execution of the Deed of Cancellation dated 10.03.2005 stamp duty was not paid. We have not been provided with the Deed of Agreement dated 20.08.2004. Deed of Agreement dated 17.03.2005 (the ‘Agreement’) has been submitted from which it appears that Mr. Y, Mr. D, Mr. E, Mr. F,Mrs. B, Mrs. G, Mrs. H entered into an agreement with GBBPL to construct a 07 storied building comprising 24 apartments and car parking space (numbers are flexible on reasonable causes) over the land. According to the Agreement, the ownership of 24 apartments along parking spaces to be divided equally in between the said parties. It appears upon perusal of submitted certified Irrevocable General Power of Attorney No. 9593 dated 08.12.2005 (‘IGPA’) that the landowners have executed the Irrevocable General Power of Attorney No. 9593 in favour of GBBPL empowering it inter alia to sell 16 apartment out of 28 apartments and 12 car parking space out of 24 car parking space along with proportionate undivided and undemarcated land to the prospective buyers. In the IGPA, GBBPL is empowered to mortgage the land. But there is no specific clause empowering GBBPL to sub-delegate its power. However, on the basis of the IGPA, GBBPL will not be able to execute a Irrevocable General Power of Attorney in favour of the Bank to sell the land or property in case of default of the repayment of the loan. We have not been provided with any Letter of Acceptance showing acceptance the IGPA by the Ministry of Housing and Public Works. Without acceptance of the IGPA by Ministry of Housing and Public Works, the IGPA shall not come into effect.
We have provided this opinion on the basis of the documents/papers referred to us. We do not confirm the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-registry office or concerned authorities. |
Land under Mouza Tejkunipara:
1. | Owner of the property
|
: | Mr. M son of Mr.N of 76, Agamasi Lane, Dhaka having present address at 27, Eskaton Garden, P.S. Ramna, District Dhaka. |
2. | Description of the property | : | All that piece and parcel of land measuring 05 Katha situated within District Dhaka, P.S. Tejgaon, Sub-Registry Office – Sadar, Mouza Tejkunipara, Khatian No. 270, Dag No. 165. |
3. | Area | : | 05 Katha |
4. |
Title Deed Referred |
: | Deed of Sale No. 2007 dated 19.05.1979 certified copy of dated 27.07.1963 executed by Sufia Khatun in favour of Mr. M. |
5. |
Bia Deed |
: | Deed of Sale No. illegible dated 03.03.1933 executed by Khabed Mohammad Mosharraf in favour of Mosammat Sufia Khatun. |
6. |
Mutation |
: | Mutation Khatian 282/ certified by Assistant Commisioner of Land has been submitted from which it appears that land measuring 0825 ajutangsha under Dag No. 425 has been mutated in the name of Mr. M vide Mutation and Separation Case No. 3232 dated 17.09.1980.
R.S. mutation for land 0825 ajutangsha in the name of name of Mr. M should be obtained. |
7. | Khatian | : | Khatian No. 320, Draft Mahanagar Jarip Khatian No. 829 has been has been submitted. No C.S., S.A. or R.S. Khatian have been referred to us.
Bank must obtain C.S. Khatian No. 270, 282 and relevant R.S. Khatian. |
8. | Chain of Ownership | : | Upon perusal of Deed of Sale No. illegible dated 03.03.1933 it appears that Faizon Nesa Bibi was owner land measuring 8.25 decimal under C.S. Khatian No. 270, Dag No. 165.
Khabed Mohammad Mosharraf purchased the land along with other lands from Faizon Nesa Bibi on 06.08.1949 vide a registered Deed of Sale. But we have not been provided with the Deed of Sale dated 06.08.1949. Mosammat Sufia Khatun became owner of the land by purchasing the same from Khabed Mohammad Mosharraf vide Deed of Sale No. illegible dated 03.03.1933. Present ownerMr. M has become owner of the land by way of purchase from Sufia Khatun vide Deed of Sale No. 2007 dated 19.05.1979. In the Mahanagar Jarip operation, land measuring 0728 ajutangsha under Dag No. 4995 was recorded in the name ofMr. M. |
9. | Ground Rent Receipt | : | Ground rent receipt No. 484859 has been submitted from which it appears that ground rent has been paid up to 1407 B.S. in the names ofMr. M for land measuring 0825 ajutangsha.
Up to date ground rent receipt should be obtained. |
10. |
Valuation Certificates |
: | Not submitted. |
11. | Non-Encumbrance Certificate | : | Not submitted.
Non Encumbrance Certificate for lands measuring 0825 ajutangsha for last twelve years to be obtained. |
12. | Municipal Holding Record | : | Not submitted.
Bank should obtain up to date Municipal tax payment receipt, if applicable. |
13. | Wanting papers/
Documents |
: | a) R.S. mutation for land 0825 ajutangsha in the name of name of Mr. M.
b) C.S. Khatian No. 270, 282 and relevant R.S. Khatian c) Up to date ground rent receipt. d) Non Encumbrance Certificate for lands measuring 0825 ajutangsha for last twelve years. e) Up to date Municipal tax payment receipt, if applicable. f) Valuation certificate. |
14. |
Opinion |
: | Upon perusal of the documents/papers we are of the opinion that Mr. M has acquired prima facie right, title and interest over the land in question. Physical possession of the landowners over the land should be ascertained. Bank may obtain wanting documents/papers referred in Clause 13 above before taking the property as security of loan.
Deed of Agreement dated 04.08.2005 has been submitted from which it appears thatMr. M entered into an agreement with Company 1 to construct a 06 storied building comprising 10 apartments over the land vide execution of Deed of Agreement dated 04.08.2005 (the ‘Agreement’). According to the Agreement, Mr. M will get the ownership of 04 apartments out of which 02 on the 5th floor and 02 on the 2nd floor as 40% of the construction area along 04 parking spaces from the project and GBBPL will get the rest 06 apartments and parking space. It appears upon perusal of submitted certified Irrevocable General Power of Attorney No. 6219 dated 09.08.2005 (‘IGPA’) that Mr. M has executed the IGPA in favour of GBBPL empowering it inter alia to sell 06 apartment out of 10 apartments and 06 car parking spaces undivided and undemarcated land to the prospective buyers. In the IGPA, GBBPL is not empowered to mortgage the land and there is no specific clause empowering GBBPL to sub-delegate its power. However, on the basis of the IGPA, GBBPL will not be able to mortgage the land and/or to execute any Irrevocable General Power of Attorney in favour of the Bank to sell the land or property in case of default of the repayment of the loan.
We have provided this opinion on the basis of the documents/papers referred to us. We do not confirm the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-registry office or concerned authorities. |
All papers/documents referred to us are returned herewith.
Thanking you.
Yours faithfully
(______________)
Barrister-at-Law |
(________________)
Advocate |