The new buyer needs to pay stamp duty on the sale value and builder can register flat directly to Y through registered sale deed and X can be a confirming party to same.
Can builder transfer the flat legally after giving posession letter to new buyer
Can a builder transfer the flat from original allotte to 2nd seller after possession letter is issued to original allotte. case: say, X buys a property and allotment letter as well as possession letter is issued to X. X sells it to Y without registry from builder to Y. 1) Can Builder transfer the property to Y.? If Builder is ready to transfer what about the stamp charges will it be recoverable from builder or original allotte or new buyer? Pl. clarify
Asked 7 years ago in Property Law
Religion: Hindu
13 Answers
Builder has to execute registered sale deed in favour of first purchaser then only deliver possession of flat to first purchaser
2) then only first purchaser can as seller execute sale deed in favour of second purchaser ie Y
Der Client,
Builder involvement is necessary, as no sale deed executed between X and builder. Either hide the original allottee otherwise stamp duty payable twice for sale Builder to X and X to Y.
around 12%.
Dear Sir,
- Title of ownership has to be changed through executing sales deed of conveyance.
- Stamp duty shall be payable and depends upon sales term between you and buyer. Generally paid by buyer.
- Builder will change the contract ownership accordingly in the name of new owner.
Regards
Vivek Arya
In My Case, Builder is ready to transfer the flat(situated in Gurgaon Haryana) to new buyer and given the NOC for transfer .even though in builder buyer agreement executed between original allotte and builder, builder has mentioned that after giving possession letter, transfer can not take place to new buyer. 1) can builder legally transfer the flat to new buyer if possession letter is already issued 1 year back to old allotte , and convenyance deed is not done in favour of old allotte after violating its terms and condition of builder buyer agreement ? 2) can Government authority in this case (Harayana state ) can make it a stamp theft case ? 3) legally if government issues notice for stamp recovery amount, than will it be recoverable from builder or original allotte or new buyer? 4) can new buyer claim for any type of compensation from builder for voilating the terms and condition of builder and buyer agreement executed between original allotte and builder if government send the recovery notice of stamp recovery to new buyer ?
Asked 7 years ago
It can't be generally done as it is illegal. If you have paid the dues and received possession letter then builder can't do so. You can file Consumer Complaint
Without registered conveyance deed, No.
NO, just penalty for evading stamp duty.
If not paid, property will attach, who will be at lose, builder or allottee.
NO
1) builder cannot transfer flat to new buyer as possession already delivered to original allottee
2) stamp duty has to be paid on sale deed and duly registered
3) you would be issued notice to pay stamp duty
4) you can sue seller to recover stamp duty as per indemnity clause in your contract
1.Builder should execute a sale deed in favour of first buyer .
2.after completing all process then first buyer can execute a sale seed to second buyer.
Hi, if the all the parties are in consent to the transfer of the flat then it can be done ... The stamp duty on the flat will be payed by the new owner of the flat .. The builder will issue a fresh possession notice to the new buyer , and simultaneously can execute the conveyance deed in his favour ..It is also important to obtain the NOC from builder for transfer of flat
1. See the original allottee can be confirming party as the property is not registered and it can hand over the possession to the new buyer so it can be tri-parte agreement.
2. No it won't be stamp theft case.
3. The stamp duty of new agreement shall be paid by the onew buyer wherein if any recovery then from builder but there shall be no such proceedings.
4.No relief can be sought by the original owners. Further there can be indemnity clause to recover damages from builder in the conveyance deed.
- As per the information mentioned in the present query, makes it clear that you wish to transfer the flat to someone else and that is only for the reason to avoid the multiplicity of stamp duty to the revenue state which is also not bad as everyone tries to save some money.
- But, the problem is with agreement that you have already entered with the builder as the same talks about no tanger after issuance of allotment/ possession letter as this is the letter on the basis of which flat will be registered on the name of the original allottee.
- Let me tell you that avoiding some amount stamp duty is not bad in law, but to superpass a situation where you may be able to avoid whole then it would be a case proceedings against you under the stamp duty act.
The builder , buyer and the seller can arrive at a tripartite agreement by which the transactions can take place accordingly.
Since the flat registration has not been made on the seller's name, the builder can directly execute the registered sale deed in the name of the buyer on the basis of the terms and conditions mentioned in the tripartite agreement for all the transactions that has taken place earlier and the one that will take place afresh.
The stamp duty if any paid by the seller then it may be transferred in the name of the buyer to the builder for further transactions.
1. Without the registered sale deed in the name of the seller the builder cannot hand over possession letter to the seller, if that is the case, then the seller only can execute the registered sale deed in favor of the buyer and not the builder.
2. What is stamp theft case doing here?
3. If the stamp duty has been paid then there is no question of recovery, well, if there is o registration taken place then there is no stamp duty payable.
4. The buyer can put the conditions for such defaults with the builder and can very well claim compensation from the builder if the builder is due to pay the same.
It is always advised that you better obtain a proper legal opinion before venturing into purchase of any immovable property since this will involve lot of risks in the hidden aspects/subjects which will emerge later.