I purchased a flat in 2012 after making full payment to builder. Possession was given within a month and I’ve been residing in the premises for 7 years. Builder provided Letter of Sale & Allotment in my name and I took no loan on the property. Even though I bought the stamp papers in 2012, I never registered the property. Now I know im not the legal owner of the flat so kindly spare me that. Sadly the property prices have hit rock bottom and my agent says he can get me a refund on the stamp papers I purchased and I can really use the money. I’ve no siblings and just live with my wife (no kids either and no plan to in future). Few questions; Can the registry be done at any time in future after buying stamp papers(again)? If I continue living here without registry, will my wife be able to sell the flat after I’m gone solely on basis of allotment and sale proof from builder? Or can she get it registered then? Finally can me or my wife register the flat even if builder closes office in let’s say the next 10-15 years? In my particular situation, what’s the biggest risk I face? The papers were purchased for 5lac and agent promised refund of 4lac (after deducting legal fee and his commission). I can get 4000 Rs a month on that (1% on mutual funds monthly payout) and use that money toward my fathers illness. Responses will be greatly appreciated.
Registered sale deed has to be executed by builder to confer clear and marketable title to property
2) your wife will not be able to sell the property
3) ask builder to execute regd sale deed in your favour
4)you can obtain refund of stamp paper purchased by you
5) validity of stamp paper is only 6 months
6) you need for reg sale deed stamp paper of today date
Registration is must without which ownership of the flat shall not be transferred in your favour.
You can not legally sell the property unless ownership is transferred to you.
Get the property registered immediately . Contact with the seller /builder and tell him to sign the sale deed before the registrar .
1. Instead of infructuously beating around the bush, ask the Agent /Broker to sell the unregistered Flat, on "as it is where it is condition", instead of suffering a loss of 1 lakh rupees on refund of Stamp Duty.
2. Use the sale proceeds of Flat to buy a new Flat, this time by using the same Stamp Paper and Register the property.
3. BTW, "EVEN IF" you have not paid stamp duty or not registered the Flat deed, under the Transfer of Property Act, you are the Owner of the Flat, by virtue of the allotment letter and payments made and your possession of over 7 years.
1. Validity of stamp paper is only 6 months after that on old stamp paper registry cannot be done.
2. No sale will not be possible , as the title of property is not clear and builder is owner legally so wife cannot sale it.
3. If builder is ready, he can register anytime. After he is not available it cannot be registered.
4. See get proeprty registered to secure your investment.
1. Yes, you can still make a registered deed of conveyance with fresh purchased stamp paper.
2. In the sale deed your seller will have to sign and if any r all of them have died then their legal heirs will have to sign.
3. In absence of a single legal heirs your title in the property would not be perfected.
4. At the time of registration of the sale deed you will have to pay the remaining sale price, if any .
You can register the same later but it's better you seek builders assistance now for registration as he sold you the flat. Later you may require courts assistance as the other party to transaction is required for registration
Hello,
legally those stamps paper can not be used now.
if you don’t register the flat in your name then you will not be in a situation to claim ownership on the property.
If the builder closes the office then in that case it will be very difficult to get the registry on your name.
legally it is advised that you get the registry done on your name at the earliest.
Regards
Why did you wait such a long time without getting the property registered to you name by a registered sale deed?
Even now it is not late, you may ask the builder/seller to execute a registered sale deed in your favor immediately.
If you cannot do it during your lifetime then your wife may find more difficulty to get it registered on her name after your lifetime, she may not even be able to sell it without a registered sale deed.
Forget about the future, if you are asked to vacate the property you cannot claim any rights over it since you are not having a clear and marketable title over the property you have purchased but not registered it on your name vide a registered sale deed.
Under the provisions of Section 54 of the Transfer of Property Act 1882, the sale of immovable property, the value of which is Rs 100 or more, should be registered. You are advised to immediately call upon this builder to execute a sale deed in your favour. This SD must be duly stamped and registered in the office of the concerned Sub Registrar. Your wife will face a lot of difficulty in selling this property in future in absence of any sale deed.
- under section 17 of the Indian Registration Act, Property Registration is compulsory , and it should be done from the office of the Sub-Registrar.
- Further, Under Section 49 of the Indian Registration Act, the documents like Sale Agreement is not having any legal value , and if any dispute will arises , then you will not have any rights on the property , as this property is not registered in your name. And further , you can not sell the said flat without registration on your name.
1. Yes it can be done at any time , but for the registeration sellers presence is mandatory.
2. No , she will not able to sell the said flat.
3. She will face problem. Better to consult the seller to exectue the sale deed in your/wife favour.
4. No,without builder it cannot be possible as per law.
5. You can get the refund of stamp paper , after approaching the office of SDM.
Good luck and dont forget to rating Positively.
Hi,
Though you are staying in the flat but you are not owner and the same can't be sold by your wife. Further, there is time line of buying stamp papers and the registry. You are suggested to get the property registered yourself after buying the stamp papers in future.
you can not sell the said flat without registration on your name. First of all you have no legal right over the said flat as per Transfer of Property Act, to sell the property. You have to done one thing that, you have to convince the builder at the time of registration of the said flat, it will registered in the new buyer, in between to execute the MOU between you and new buyer for the same.
Yes it can be done at any time but when you will register the flat You will need presence of seller in sub registrar office.
Your wife will not be able to sell the flat as she cannot be legal owner without registration of flat.
