Vetting of property documents

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/04/07                                                               Dated: April 30, 2007

The Manager

Consumer Credit Risk

Personal Financial Services

Bank 1

Dhaka Main office, Anchor Tower

1/1-B, Sonargaon Road

Dhaka-1205

Dear Sir,

 

RE:  VETTING OF PROPERTY DOCUMENTS A/C. “W”.

Please refer to your letter No. HML/CHG/004-091716-001 dated 22 April 2007 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

 

 : MR. A, son of Mr. X of Village-Kanchan Nagar, P. S. Fatikchari, District-Chittagong, at present : 117/A, Jamal Khan Road, P. S. Kotwali, District-Chittagong
2. Description of the property : All that piece and parcel of land measuring 700 (seven hundred) Sq. Yds. situated within District-Chittagong, P. S. Panchlish, Sub-Registry Office-Sadar, Mouza – Khulshi, R. S. Khatian No.150, R. S. Plot No.735(part) and 736 (part) of the Society Plot No.84/C as per Lay-out Plan of Chittagong Co-operative Company 1, which butted and bounded by:

On the North   :  Society Road

On the South   :  Acre Plot No. 4

On the East     :  Plot No.83/C

On the West    :  Plot No.85/C
3. Area : Land  measuring 700 (seven hundred) Sq. Yds.
4.

Title Deed Referred

 : Certified copy of Deed of Sale No.1178 dated 21.01.1980 executed by Mr. B in favour of Mr. P
5.

Bia Deed

 : Bia Deed of Sale No.6976 executed on 23.05.1978 registered on 06.06.1978 executed by Chittagong Co-operative Company 1 in favour of Mr. C
6.

Mutation

 : Not submitted
7. Khatian : Submitted R. S. Khatian No.150

 
8. Chain of Ownership : From R. S. Khatian No.150 it appears that land measuring 3.18 acres and 7.48 acres under dag Nos. 735 and 736 respectively along with several land and various dags were recorded  in the names of Sailendra Krishna, Pran Krishna and Gokul Krishna.

Thereafter, the present owner Mr. B was leased out the land measuring 700 (seven hundred) Sq. Yds. under R. S. Plot No.735(Part) and 736(Part) of R. S. Khatian No.150 of the Society Plot No.48/C from Chittagong Co-operative Company 1 vide  Agreement of Lease No.6976 executed on 23.05.1978 registered on 06.06.1978

Thereafter the present owner Mr. P became owner of land measuring 700 (seven hundred) Sq. Yds. under R. S. Plot No.735(Part) and 736(Part) of R. S. Khatian No.150 of the Society Plot No.48/C of Chittagong Co-operative Company 1 from  Mr. B vide Deed of Sale No.1178 dated 22.01.1980
9. Ground Rent Receipt : Not submitted
10.

Valuation Certificates

 : Not submitted.
11. Non-Encumbrance Certificate : Submitted Non-encumbrance certificate issued by Sub-Registrar, Sadar-Record Room, Chittagong land measuring 700 (seven hundred) Sq. Yds. under R. S. dag No. 735 and 736 of Mouza-Khulsi, P. S. Panchalisha, Chittagong which it appears that the land is unencumbered from 1989 to 2000
12. Municipal Holding Record : Not submitted
13. Wanting papers/

Documents

 : §        Mutation Khatian for 12 (twelve) years up-to-current year;

§        Up-to-date Ground rent payment receipt;

§        Up-to-date Non-encumbrance certificate from the concerned Sub-Registrar Office;

§        Up to date Municipal Tax Payment Receipt; it applicable;

§        Valuation certificate;
14.

Opinion

 : Upon perusal of the documents/papers we are of the opinion that Mr. A has acquired prima facie right, title and ownership over the land measuring 700 (seven hundred) Sq. Yds. Physical possession of the present owner over the land should be ascertained and wanting documents/papers referred in Clause 13 above should be obtained.

The Landowner Mr. A entered into a Deed of Agreement in the year of 2001 (the ‘Development Agreement’) with BAY TECH PROPERTIES LIMITED, having its Office at 1293, D. T. Road, Dhanialapara, Chaittangong represented by its Managing Director Dr. A. A. G. Murtaza (the ‘Developer’) for developing the land measuring 700 (seven hundred) Sq.Yds. by way of construction of a multi storied building thereon and necessary Car Parking space in the ground floor of the building. In the terms of the Development Agreement, the Landowner will get 2(two) apartments and 2(two) reserve Car parks mentioned the schedule “C” of the Agreement and will get remaining apartments and Car parks and undivided and undemarcated proportionate land of the schedule property.

 

As per terms of the Agreement the landowner Mr. P executed an Irrevocable General Power of Attorney dated 06.05.2001 executed in Abu Dhabi-U.A.E, Embassy of Bangladesh duly attested in Bangladesh appointed BAYTECK PROPERTIES LIMITED, represented by Dr. A. A. Ghulam Murtaza (the Developer) as his constituted attorney to develop the land construct the building and flats and empowering inter alia to sell the same along with undivided and undemarcated proportionate land as per terms of the  Agreement mentioned above.

Chittagong Development Authority gave permission to construct the multi storied building on the scheduled property vide letter dated 03.12.2003.

From your letter it appears that Mr. “W” is going to purchase an apartment in the Building named “BAY GREENVILLE” at Road No.6, Khulshi Hills Residential Area, Chittagong.

 

Bank may accept the property as security of loan after completion of the documentation formalities as per Bank’s Home/Staff Loan Policy

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

 

If your have further query, please do not hesitate to revert back to us.

All papers/documents referred to us are returned herewith.

Thanking you.

Yours faithfully,

(__________________)

Barrister-at-Law

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.