Can I purchase a property from a person against my previous transactions to that person, and if that property is mortgaged with a bank then how safe is it to buy.
Yes, you can purchase a property from a person with whom you have had previous transactions, as long as the property is legally transferable and the seller has the right to sell it. However, it is important to conduct a thorough due diligence on the property before making the purchase to ensure that there are no legal issues or pending disputes related to the property.
If the property is mortgaged with a bank, it is important to verify the status of the mortgage and whether the seller has obtained a no-objection certificate (NOC) from the bank. The NOC is a legal document that confirms that the bank has no objection to the sale of the property, and that the mortgage has been cleared or will be cleared from the proceeds of the sale. If the seller has not obtained an NOC, the bank may still have a claim on the property, and this can create legal complications for the buyer.
