Has sale deed been executed by builder in favour of current owner ? Has said document been misplaced ? Has FIR been lodged ? Has public notice been issued ?
Kindly clarify
I am trying to buy a resale property from the first owner. The property located in Mumbai. The current owner has the following documents. NOC from Society CHS. Occupation certificate Agreement for Sale from Builder Stampduty, Index papers and other fees related to registration documents Share Certificate from Society(CHS). ----MISSING DOCUMENTS---- Sale deed from Builder to the Current owner for the apartment Conveyance Deed from Builder to Society (CHS) Is that safe to proceed without missing documents? please advise.
The building is 12 years old. Does Maharastra govt allows to get "deemed conveyance" from registrar when Builders are not cooperating with Society to get "Conveyance Deed". ? How long will this process take usually?
Has sale deed been executed by builder in favour of current owner ? Has said document been misplaced ? Has FIR been lodged ? Has public notice been issued ?
Kindly clarify
Has sale deed been executed by builder in favour of current owner ? -- NO SIR Has said document been misplaced ? -- NOT ISSUED Has FIR been lodged ? - NO Has public notice been issued ? NO
If builder is refusing to execute conveyance deed society can obtain orders from consumer forum to direct builder to execute conveyance deed
in alternative deemed conveyance can be obtained by society
In case full payment has been made to builder and builder delivers possession to purchaser agreement for sake operates as sale deed
it is necessary to peruse documents cited by you to advice further
if there is no sale deed for flat and conveyance deed for society it is not safe to proceed. As the title wont be clear you will face difficulty while resale.
Sir by a GR now the procedure for deemed conveyance is made easy then before so you(current owner) can apply to the Registrar of Societies with a fee of 2000 and required documents for the deemed conveyance of the flat,
Why has he not obtained the registered sale deed?
The registered sale deed is the title document, other documents will supplement and support the sale deed.
You cannot get the property registered on your name without the property being registered on the seller's name.
Why has the builder not given conveyance deed to the society?
How will the society claim its title to the common areas without a proper and registered conveyance deed?
You insist on production of these documents otherwise you may give a second thought for this purchase.
It is the duty of the builder to give conveyance deed to the association and the association has to obtain them mandatorily.
There appears to be some other things hidden involved in this.
You better obtain a proper legal opinion before you venture into this purchase.
If there's no registered sale deed executed in the name of the vendor then he has no title to the property hence he cannot sell the property legally to you neither he can execute a registered sale deed in your favor.
Hence you may better keep away or consult your lawyer on all such further issues.
No separate sale deed between builder and buyer is required if there is a duly registered agreement for sale between them
You can proceed to buy the flat
Society can make an application to district deputy registrar of co-op societies for grant of unilateral deemed conveyance in favour of society u/s 11 of MOFA
1. You MUST have the ORIGINAL Sale Deed, in your custody, to ensure safe Title-Ownership of the Flat. IT may be possible that the Original Sale Deed, might be pledged with some Financier. This might be a fraud and cause you huge loss. IF the Society is properly registered, THEN absence of Conveyance Deed is not a problem.
2. IF you are positively sure about the antecedents of the Seller, THEN let the Seller give you Indemnity Bond, indemnifying you against all losses, in the event of any future legal disputes, concerning the property.
Keep Smiling .... Hemant Agarwal
I forgot to mention the land details. The current land is a not a private land. This land leased to the builder for 999 years since 1930. People here is telling me that There is no way to transfer the conveyance deed from Builder to Society because Builder is not technically owner of the land. Collector is the owner of the land. Hence the flat also doesn't have sale deed and conveyance deed for the land. All the house owners are having only "agreement for sell". Neighboring building flat owners have applied "deemed conveyance" with registrar of societies and the application has rejected. To reconstruct the same house, I need to get NOC from the collector to proceed without waiting for builders concern/permission. Are these correct information? In this case, Can I safe to proceed to purchase? What needs to be done to see the ownership of this land? please advise the process also.
If land has been leased to builder he is not owner of land and cannot execute conveyance for transfer of ownership rights in favour of society
2) it is necessary to peruse documents cited by you to advice whether you should purchase the flat or not
3) take search in sub registrar office and obattin copy of lease deed registered in builder favour
I would not advise you to purchase same , though there is no issue in 999 lease but it should have transferred to society further ownership is not transferrable lease can only be transferred.
If the builder has failed to execute a conveyance deed to the society then the society may directly move an application to the competent authority along with the copies of the sale agreement the builder entered with the flat owners and the society should enclose the occupation certificate with the application.
The authority may, after hearing both the sides,, issue a certificate stating that it is a fit case for enforcing unilateral conveyance deed conveying the rights, title and interest of the builder in the building and the land favoring the applicant, as deemed conveyance.
But will the society follow up this action?
Do you still want to buy this property which is ambiguous in the ab initio stage itself.?
In any case you may consult a local lawyer and have his opinion on this before venturing into this purchase.
1. There is no need for the Conveyance Deed from Builder to Society but without the registration of the Sale deed from Builder to the Current owner, the title of the property has not be established.
2. I am uncomfortable with the situation where there is no registered sale deed.
3. It is not possible that without registering the sale deed,the current owner has become the member of the Society.
4. May be that he has moertgaged the said flat by depositing the original sale deed with the lending bank and in that case he cxan ot deal with his mortgaged property.
5. It is highly unsafe to buy the said flat at the present stage.
In the statd event, you shall have to get a Couret order for treating your matter as deemed registration and direction upon the Registrar to register it accordingly.
1. How are you so sure that there was no sale deed registered in favour of the current buyer?
2. However, if it is a fact then an application shall have to be filed before the Court for getting an order for treating your said property as deemed to be registered as suggested above.
1. The builder is the leasee of the land and the he or the developer can lease the flats constructed on the said leased land if such construction of flats on the said leased land is permitted in the lease term.
2. The first leasee can sub-lease the said flat to you for the remaining lease period.
3. There can not be any agreement for sale in connection with the flats constructed on the leased land.
even if builder cannot do conveyance of land, he can always assign his leasehold rights in the land to the society
for this the lease deed executed between collector and builder will need to be checked
I have checked with local lawyers and confirmed the documents are in right condition to proceed for the sale. However, I am not sure the liability that I need to pay to convert leasehold to freehold as per below articles. Maharastra allows to convert leasehold to freehold. What is the calculation mentioned in the Amendment of Maharashtra land revenue act? If the society has 10 acres of leased land, will they charge one-time cost for the total land sq.mt OR will they charge as per flat build-up area? 25% of RR rate of lease land or 25% of RR rate of my flat build-up area? Please confirm. Who is the right person to confirm the liability that I need to pay after I buy this flat? https://www.proptiger.com/guide/post/maharashtra-land-owners-to-leasehold-land-to-freehold-by-charging-25-of-circle-rate https://www.cnbctv18.com/economy/maharashtra-announces-land-conversion-policy-but-housing-societies-unhappy-930411.htm
Maharashtra govt has permitted conversions of leasehold into freehold . It would be permitted for grants to residential societies, and those allotted for agricultural or commercial purposes.
2)
The collector has been appointed as the competent authority to collect premium and carry out the conversion. The law is applicable only to plots given to housing societies, or for commercial purposes. It is not applicable on lands given to charities, hospitals, educational institutions, industry and gymkhanas. Freehold land doesn’t require government permission to be sought for sale, transfer, mortgage, etc.
In case of leasehold plots, if the lease is for less than 99 years, the premium is 50% of the RR rate and if for more than 99 years, the premium is 37.5% of the rate. In case of housing societies to which land is granted on leasehold basis, the premium is 25%. These rates are applicable only for three years.
Please dont rely on newspaper articles
They are only speculative and may also be incorrect
If collector agrees to convert lease into freehold, then the market value of the land will be calculated and will have to be borne by the society
Society will eventually pass on the cost to its members in proportion to their respective flat areas
For authentic information please visit collector's office for inquiry
I dont know if the collector's office will be receptive to your request as most are not receptive to requests from public. But you can give it a try
You said you have confirmed from local lawyer about the genuineness of the relevant documents.
Now you are struck at conversion.
You may have to approach the revenue department for conversion process and all other details that are required to be complied with.
The sellers are the father and daughter(NRI). (Co-owners) of the flat. Father has power of attorny to sign the agreement for sale. Father is going to sign all the papers on behalf of the daughter. All the payments go to Daughter account by cheque and father doesn't want money on this deal. I will not be paying to father. The first step, I am signing on MOU for certain terms with father. This should be in stamp paper with notary right? Next, I am proceeding with Agreement for Sale. After I complete my entire payments the seller, Do I need to get Affidavit for payment receipts for all payments from the seller? (both father and daughter) ? Since, Father is not accepting any payments, Do I need to mention specifically in the agreement? Is that possible to go further on "Sale Deed" after the "agreement for sale", for this apartment sitting on "leasehold" land? The whole process, the daughter is not in the picture. let me know if any other supporting documents required to be safer side.
MOU can be on Rs 500 stamp paper
2) you dont need affidavits of payment receipts
3) agreement for sale would mention details of payment received by seller
4) make 50 per cent payment to father and balance only to daughter as both are co owners of flat
5) POA executed by daughter should be attested by indian consulate
The POA the daughter would be executing in favor of het father should be executed in the country if her current residence and it should be notarized by a notary of that country besides registered in the registrar office in India.
The POA should specify the mode of payment, account number, PAN etc and favoring whom.
If the payment is to be made to a NRI then you should deduct tax at appropriate rate.
An MOU can be signed before witness by both in a non judicial stamp paper.
A registered MOU can be notarized while the agreement to sale should be registered.
It would be better if you take receipts signed by both as amount is paid in daughter account.
You can mention the sale consideration is paid in this account.
Sale deed can be made and registered .
1. POA by daughter to father authorising to sell property has to be compulsorily registered
2. MOU on 100 Rs stamp paper and notorised
3. no need for separate affidavit to record payment receipt by sellers. A receipt can be simply annexed to final sale document
4. yes advisable to mention in sale document that all payments are made to daughter by consent of father
5. registered agreement for sale is sufficient. Actually it is sale deed only.