A property which has not been registered does not belong to her and this transaction is illegal and void.
Regarding purchase of property on transfer basis
Can I buy property which is not registered by purchase. First buyer had not make a registry in her name, now she is selling the property to me and builder is ready to registered the property in the name of me after taking some fee. Deal is finalized in 20 lac but builder is making registry for 9.25 lac for payment received in white.
Asked 5 years ago in Property Law
Religion: Hindu
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26 Answers
Tripartite agreement has to be executed between seller , builder and you for sale of flat
2)obtain no dues certificate and NOC from builder for sale of flat
Yes you can do it.
You may enter into a tripartite agreement with the buyer, builder and yourself for finalising this deal in all aspects.
The undermining the value of the property by registering it for a lower sale consideration value may not fetch you an appreciable value in the future when you desire to sell this property.
Therefor first ascertain the facts and if necessary, obtain a legal opinion from the local advocate and proceed only if it is recommended
First buyer had already made full payments to builder, and also take the possession, but still not done the registry in her name. Now i purchasing plot from her, and builder is ready to transfer the plot in my name and also ready to make registry in my favour with nominal fee. As per first buyer builder agreement the value of plot is 19.95 lacs and they had received all the payments according to the agreement. Now builder is saying they will make the registry in favour of 2nd buyer for Rs 9.15 lac which is received in there account for 1st buyer. pl. suggest is this transaction is legal, after registry can builder ask for any amount.
Asked 5 years ago
Ownership title should be clear for safe purchase.
If possession has been taken by buyer after making full payment to builder then registered sale deed should be executed by builder in his favour
he can then sell property to you for Rs 19.95 lakhs by registered sale deed
You can go for Tripartite agreement and registered in the SRO office. In tripartite agreement mention all history of previous owner transaction and you current Payment Schedule accordingly. Do make whole transaction in white with builder.
The builder has to register first with the woman so that she becomes the legal owner of the property. If the builder hasn't registered the sale deed with the woman then he is the owner and not the woman.
I don't think that they are following the rules and it looks fishy.
The builder is blaming the seller about this whereas you confirm the same from the seller and proceed only if it is feasible.
What is the necessity to under value the property for the purpose of registration?
Your property will be undervalued in the future also when you try to sell the property, hence, once you are paying the full money in white why do you want to register the same for a lower consideration amount?
Here you need to do triparty agreement including all three and get it registered
Sale deed will execute directly with builder but mentioning low price in sale deed will lower the value of your property.
You can take receipt of amount paid in cash. You will have payment proof, builder cannot ask for more amount.
No transactions are illegal untill matched by the market value fixed by the competent authorities.
You Please find out local authorities from official website or records to ascertain the market value of the property as of today.
Next step to Register the agreement and pay stamp duty of earlier deal to Government Treasury and then register your sale deed with payment of stamp duty for security of your property in perpetuity.
- As per law, without Registration a buyer has no legal right over the property even even he has cleared all the dues with the builder, and further cannot sell it to anyone under the Transfer of Property Rights Act.
- Since, you want to purchase the said property from her , then you should approach her builder and request him to make changes in the Builder-Buyer Agreement and transfer the ownership rights in your name.
- As per rule the builder after collecting processing charges , can register the property in your name. This processing fee is charged to change the Builder-Buyer Agreement.
- No , after the registry the builder cannot ask any amount from you.
if the property was not registered,then the sellers title may be imperfect.
Many issues arise which need to be looked into by competent lawyers.
No, the transaction was not legal.
Regards
I am buying a plot. The first seller had made all the payment to builder, but he has not got the registry done in his name. Now that plot is selling to me. The agreement to sell between the first cellar and me was already done. Can the builder transfer this plot in my name, and make the registry in my name. The agreement between the first seller and the builder was 19.95 lakh, out of which 9 lakh has been paid by the bank and 10.95 lakh in cash. The seller has all the receipts for payments raw and confirmed. The builder is ready to transfer the property in my name, but he is saying that the value of the registry will be 9 lakhs only. Can the builder ask for further payment after registry. Do we have to make a new agreement to sell and in whose name it will be in the name of the new seller or in the name of the old seller. And which documents should we take from the builder so that he cannot create any problem in the future.
Asked 5 years ago
Since you are paying Rs 19.50 lakhs you should not agree to mention that only Rs 9 lakhs has been paid
2) n o due certificate from builder is necessary
3) Tripartite agreement should be executed as mentioned earlier
If you enter into a tripartite agreement with the seller and the builder then the builder can execute the registered sale deed in your favor.
In the tripartite agreement all these questions raised by you will be properly answered.
If the builder has received the value of the proeprty then he cannot demand extra amount from you.
There is no necessity for entering into agreement of sale once again,instead the builder can directly execute the registered sale deed in your name.
You were advised to obtain a proper legal opinion from a local lawyer, if you are reluctant to obtain a legal opinion, then you will be at a loss in future and you cannot blame anyone except you for this debacle.
Pl find out market value of property on final payment of INR 19.50 Lakhs to Builder.
Pay stamp duty of first agreement between Builder and first seller and get the agreement registered for your safety and security from Builder's illegal and unethical demand .
- Since, the said seller made payment to builder , it means that the builder having right to transfer the said property to the said seller .
- Further, if you entered into an agreement with the seller , then he can permit you to get registry in your name from the builder but he cannot transfer the property in your name as he is not having registered document in his name.
- Yes, after getting the said agreement , the builder can register the property in your name legally.
- Legally the builder has nothing to do with the price of the property , as he has already received full payment from the seller , he can show the sellers amount for the registry purposes also.
- Further , you can enter into an agreement with the builder as per rule
- In the sale deed , the builder should mention that he has received all the payments from you , and no dues left with the vendee , and further vendor has not left any right over the property after receiving full and final amount from the vendee.
Execute tripartite agreement as well as separate MoU with Seller and no due receipt from Builder.
He can't ask unless there is a mutual consent
Good luck
Yes.
Keep payment proof, than builder cannot demand more payment. Better execute new agreement to sell in which total amount will mention. And take receipt of payment made in cash. Click photo of same.
1. Yes you can go ahead with purchase.
2. Yes transaction is legal.
3. If registration is done in name of current owner then builder cannot register the flat on your name and current owner need to get the registration done l.
If the first seller has not purchased the property as it is not registered how can she sell?? The builder is not the owber of the property as she hasn't got the property registration done. The property still belongs to her.
Yes get an Registered agreement done