1) is supplementary agreement between land owner and builder registered ?
2) if not include builder as confirming party in sale deed
3) builder should sign agreement
Agreement for Sale
I want to purchase a flat from a land owner under Kolkata Municipal Corporation. The land owner made a "Joint Venture Agreement" with a Developer. The land owner now intended to sale a flat to me from his allocation i.e. "The owner's allocation" as per the agreement and to make an "Agrrement for Sale" with me. My questions are: 1) Is it necessary to include "The Developer" as a third part of the "Agreement for Sale" ? 2) Is the signature of "the Developer" is necessary in the "Agreement for Sale" ?
Asked 7 years ago in Property Law
Religion: Hindu
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10 Answers
Yes it will be a tripartite agreement in your case. Or if the developer has poa of land owner with development agreement then you can have a separate agreement with developer only.
1. Yes, since he developer has an interest in the property it is essential that the developer is also made a party to confirm the sale.
2. In the sale agreement though making him a party is not essential but in the sale deed his presence if very important as ' confirming party'.
Get the agreement drafted by a skilled advocate by showing the papers to him.
Putting the name of developer in the which is jointly developed by the landlord and Developers creates the rights of developer as well putting his name and getting his signature will definitely provide additional security in the agreement to sale and it is beneficial to you
1. yes it is necessary to include him.
2. yes since he also the owner of the part and the property has not been divided legally,, therefore his signatures are mandatory in the sale deed.
Regards
1. It is not necessary to make the developer that party but it would be better if developer is confirming party to the agreement as then there are least chances of any dispute relating to your property.
2. Yes developer can sign as confirming party in the agreement to sale.
Dear Sir,
Answers are as follows:
1) Is it necessary to include "The Developer" as a third part of the "Agreement for Sale" ?
2) Is the signature of "the Developer" is necessary in the "Agreement for Sale" ?
Ans: Developer does not come into picture and his signature is not necessary provided there is registered sharing agreement between landlord and builder.
1)joint development agreement signed between builder and the landowners is most crucial document. It is also known as JDA. Joint Development Agreement should be registered and buyer should thoroughly check JDA before signing below the dotted line. Also buyer should be aware whether he is buying a flat from builders share or landowners Share.
2) yes it is necessary.
NO
No but to secure the deal, kept the BDA with you.
1. Since the vendor is going to sell the property allotted to him as per their agreement, you may proceed provided he confirms the title on the name of his vendor.
The developer's consent is not required for this.
2. No it is not necessary.
