Vetting of property documents

Our Ref.: LJ/PJ/03/2006

Dated: March 28, 2006

Mr. P

Executive Vice President & Manager

Bank 1

Banani Branch

Plot # 75, Block # B

Kemal Ataturk Avenue

Banani, Dhaka – 1213

Dear Sir,

RE: VETTING OF PROPERTY DOCUMENTS/PAPERS A/C. COMPANY 1.

We refer to your letter dated 01.03.2006 on the above subject. We have perused the documents/papers (all photocopies) that you have referred to us and our opinion is as follows:

1. Owner of the property : Company 1 a company incorporated under the relevant Companies Act of Bangladesh, having its office at House # 38/3, Road # 16 (new), Dhanmondi Residential Area, P.S. Dhanmondi, District – Dhaka.
2. Description of the property All that piece and parcel of land measuring 5 Kathas equivalent to 8.25 decimals situated within District – Dhaka, Sub-Registry Office Mohammadpur, P.S. Sabek Keraniganj then Tejgaon now Mohammadpur, J.L. No. 239 and 240, Mouza Uttar Adab and Ramchandrapur, under Khatian Nos. 35, 52, 55, 56, 60, 75, 118, 541, Sabek Dag Nos. 30, 31, 95, 117, 122, 124,129, 131, 134, 135, 136, 137, 138, 139, 140, and 340 (part),S.A. Mutation Khatian No. 34/6, S.A. Mutation Dag No. 30, 31, 122, and 124,R.S. Dag Nos. 175 and 176,Math Jarip Dag No. 604, being Plot No. 548 of Baitul Aman Co-operative Housing Society Limited, butted and bounded by:On the North: Plot No. 545

On the South: Road

On the East  : Plot No. 547

On the West :  Road

 
3. Area : 5 Kathas equivalent to 8.25 decimals of land.
4. Title Deed Referred : Deed of Sale No. 2710 dated 27.07.1999 executed by Mr. T in favour of Company 1.
5. Bia Deed : Certified copy of Indenture of Sale No. 1283 dated 09.05.1975 executed by Baitul Aman Co-operative Housing Society Limited in favour of Mr. Azizul Haq.
6. Mutation : Submitted mutation parcha No. 34/6 certified by Assistant Commissioner of Land along with DCR and proposal sheet from which it appears that land measuring .0825 acre under Mouza No. Uttar Adab, Dag Nos. 30, 31, 122, 124 have been mutated in the name of Company 1 under Mutation and Separation Case No. 8797/99-2000 dated 08.11.1999.
7. Khatian : R.S. Khatian Nos. 197, 138 and Mahanagar Jarip D.P. Khatain 21, 637 have been submitted.

Bank should obtain relevant C.S. and S.A. Khatians. R.S. Khatians under Dag No. 176 also to be obtained.
8. Chain of Ownership : It appears upon perusal of Indenture of Sale No. 1283 dated 09.05.1975 and Deed of Sale No. 2710 dated 27.07.1999 that Baitul Aman Co-operative Housing Society Limited (the ‘Society’) became owner of some land under Mouza Uttar Adab and Ramchandrapur by way of purchase and lease. Thereafter, the Society sold Plot No. 548 measuring 400 square yards to its member Mr. Azizul Haq vide Indenture of Sale No. 1283 dated 09.05.1975.It appears from Mahanagar Jarip D.P. Khatian No. 21 that the land measuring .0825 acres under Dag Nos. (175 & 176)/604 was recorded in the name of Azizul Haq.

Company 1 has become owner of the said land measuring 8.25 decimals by way of purchase from Mr. Azizul Haq vide Deed of Sale No. 2710 dated 27.07.1999. The said transfer was permitted by the Society vide Reference No. BACHS/99/105 dated 17.07.1999.
9. Ground Rent Receipt : Submitted ground rent receipt No. E 609704 in the name of Company 1 from which it appears that rent has been paid up to 1410 B.S. for land measuring 8.25 decimals.

Bank should obtain ground rent receipt showing payment in the name of Company 1 up to the current year i.e. 1412 B.S. for the land in question.
10. Valuation Certificates : Not submitted.
11. Non-Encumbrance Certificate : Non-encumbrance certificate dated 07.06.2001 issued by searcher & deed writer Md. Nur Nabi along with Govt. receipt up to the year 2001 has been submitted.Up to date non-encumbrance certificate counter signed by the concerned Sub-registrar for the land measuring 8.25 decimals is required.
12. Municipal Holding Record : Not submitted.Bank should obtain up to date Municipal tax payment receipt.
13. Wanting papers/Documents :
  • Up to date non-encumbrance certificate counter signed by the concerned Sub-registrar for land measuring 8.25 decimals.
  • Up to date ground rent receipt for the land in question.
  • Up to date municipal tax payment receipt.
  • Valuation certificate.
14. Opinion : Upon perusal of the documents/papers we are of the opinion that Company 1 has acquired prima facie ownership over the land in question. The land may be accepted as security of loan after ascertaining physical possession of the present owner over the said land. Wanting papers/documents referred in Clause 13 herein above should be obtained.

Memo No. RAJUK/NAJAJA/3SI/2512/99/141 dated 02.02.2000 issued by Rajuk has been submitted from which it appears that Rajuk give permission to Company 1 to construct nine storied building over the land. Bank must ascertain whether the said building has been built over the land.

Bank may accept 03 (three) apartments along with undivided and undemarcated land owned by Company 1 as security upon obtaining non-encumbrance certificate counter signed by concerned Sub-Registrar.

Since the property stands in the name of a company, Company 1, the particulars of the mortgage property must be filed with RJSC within 21 days from the date of the registration of the Deed of Mortgage.

We have provided this opinion on the basis of the documents/papers referred to us. We cannot guarantee the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-Registry office or concerned authorities.

All documents/papers referred to us are returned herewith.

Thanking you.

Yours faithfully,

(_________________)                                                            (_____________)

Barrister-at-Law                                                             Advocate

Disclaimer:

The information contains in this web-site is prepared for educational purpose. This site may be used by the students, faculties, independent learners and the learned advocates of all over the world. Researchers all over the world have the access to upload their writes up in this site. In consideration of the people’s participation in the Web Page, the individual, group, organization, business, spectator, or other, does hereby release and forever discharge the Lawyers & Jurists, and its officers, board, and employees, jointly and severally from any and all actions, causes of actions, claims and demands for, upon or by reason of any damage, loss or injury, which hereafter may be sustained by participating their work in the Web Page. This release extends and applies to, and also covers and includes, all unknown, unforeseen, unanticipated and unsuspected injuries, damages, loss and liability and the consequences thereof, as well as those now disclosed and known to exist.  The provisions of any state’s law providing substance that releases shall not extend to claims, demands, injuries, or damages which are known or unsuspected to exist at this time, to the person executing such release, are hereby expressly waived. However the Lawyers & Jurists makes no warranty expressed or implied or assumes any legal liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product process or service by trade name, trade mark, manufacturer or otherwise, does not necessarily constitute or imply its endorsement, recommendation or favouring by the Lawyers & Jurists. The views and opinions of the authors expressed in the Web site do not necessarily state or reflect those of the Lawyers & Jurists. Above all, if there is any complaint drop by any independent user to the admin for any contents of this site, the Lawyers & Jurists would remove this immediately from its site.