Developer agreement clauses
Dear Madam/Sir,
My father has purchased land (total area - 20 decimil) jointly with one other person in district – bokaro, Jharkhand in the year of 2011 with an objective to develop residential flats where as one developer/real estate builder offered to develop and construct as its own cost a multistoried stories building complex and offered to my father for providing two flats (each of area is around 1200 square feet of his own choice of floor against land transferred to developer). Further as per agreement; developer has built of residential building and allotted one flat to my father and said that another one will be provided as and when construction will get completed.
Now for the 1st flat provided by developer; further developer approached us EXECUTING DEVELOPMENT AGREEMENT between by father and Developer and accordingly he has share one draft development agreement of there with us saying that same agreement will be executed for us. As we have referred development agreement and observed some clauses which gives discomfort to us. Below are the major clauses for your kind references and seeking you advice on that:
1. That apart from land owner (my father) non else is/are entitled to or has any share, rights title or interest over and in respect of the said property or any part there of either individually or as a partnership or co-partner in any joint family or in any manner whatsoever.
2. That the land owner (my father) declare that he has not agreed, committed to or contracted or entered into agreement for sale, lease or any mode of transfer effectively either directly or indirectly the development of the said property or any part thereof with any person other than the developer and that they have not created any lien, charge, mortgage or encumbrance on the said property.
What we understand from the said above clauses that the 1st clause stopping land owner (my father) to transfer the property (flat) to his sibling/hier/sons which means he (my father) can’t transfer his property (said flat) to his son.
Secondly; as the clause no -2; depict that land owner (my father) can’t sale and transfer the said property to other except developer which means only developer will have rights to purchase property which lead he is arresting rights of my father,
We are requesting you to suggest on said above clauses with what should be the right contents to insert there. Please also suggest on what to do with as the said developer also saying that he will keep original copy of developer agreement and provide us only photocopies which means that we have to depend on developers for accesses of all basic requirement as original copy required for verification and /or availing services (getting electricity connection; ID Cards, other govt benefits etc).
Developer has also not provided us copy of agreement for land transfer to developer and provision of two flats will be provided against that.
Please suggest on what should we need to do to deal with
Asked 7 years ago in Property Law
Religion: Hindu