• Resale transaction but no sale deed

Dear Sir/Madam- i am going to buy a resale property in Pune. project has four towers A, B, C and D. Tower A and B has been completed with OC and completion certificates are in place. Builder gave possession of flats in June 2019, seller has registered sale agreement with builder with copy of index II but no sale deed. For now builder, has just formed the association of apartment but no cooperative housing society. so there is no conveyance deed either. Should i proceed with this property and how
Asked 3 years ago in Property Law
Religion: Hindu

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20 Answers

You must enter into a registered sale deed or deed of conveyance, else make the builder a confirming party.

 

Swarupananda Neogi
Advocate, Kolkata
2964 Answers
6 Consultations

4.7 on 5.0

Kindly get in touch with me so that I can help you with the draft deed where the name of the builder will be there and the builder will also sign it so that the transaction would be completed and cannot be challenged by the builder in future.

Regards

Swarupananda Neogi
Advocate, Kolkata
2964 Answers
6 Consultations

4.7 on 5.0

Please check the ownership of land records from office of Tehsildar and Collector who owns the land upon which all towers have been constructed including your in which you are intending to buy the flat.

Please state that  is sale agreement between seller and Builder registered with the office of sub-registrar?

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

5.0 on 5.0

You may proceed with the buying of flat if records shows that Builder is authorized by the owner of land to develop and construct the Apartment and Building as per approval and authorization of competent authorities. 

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

5.0 on 5.0

You can proceed with the transaction but only take possession as a must. Actually the title here can be defective. You may later need to approach court for declaration

Prashant Nayak
Advocate, Mumbai
31968 Answers
180 Consultations

4.1 on 5.0

Registered sale agreement operates as sale deed if full consideration has been paid to builder and possession delivered by builder 

 

2) you can contact a local lawyer and take a call whether to purchase flat or not after vetting the documents in seller possession 

Ajay Sethi
Advocate, Mumbai
94809 Answers
7553 Consultations

5.0 on 5.0

It would not be a missing link 

 

if you are not comfortable don’t purchase the flat 

Ajay Sethi
Advocate, Mumbai
94809 Answers
7553 Consultations

5.0 on 5.0

There is an agreement for sale between builder and seller which is duly registered

Registering the sale deed is only a ministerial act

If the builder gives a possession letter to the seller that is more than enough 

Even if the conveyance in favour of society is pending, that does not affect the title of the seller to his flat which he intends to sell to you

The registered agreement for sale coupled with possession letter (alongwith true of copy of OC) and together with handover of actual possession to the seller, complete the title of seller to the flat

The builder is now out and need not be joined as a confirming party in the sale deed to be signed between you and your seller

 

Yusuf Rampurawala
Advocate, Mumbai
7521 Answers
79 Consultations

5.0 on 5.0

1. Index-II of a registered agreement, is a final irrefutable document as far "Conveyance" of Flat is concerned. Sale Deed is not executed for an under-construction flat, since conveyance of a non-existing property cannot be done.

2. Either a Association (RWA) or a Society can be formed. Either is legal for all purposes. Conveyance of Flat is not done in favor of Association or Society. Conveyance of Land can be done in favor of Association or Society.

3. There is no linkage of buying any Flat that is related to any Association or Society, wherein only membership is granted and nothing else. 

4. Based on the earlier  Index-II of a registered agreement, it absolutely safe to purchase such property.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

You should always bear in mind that any opinion sought from a lawyer for buying an immovable property without producing the relevant papers of the property would be nothing but a sheer misguidance in the name of legal opinion about the property. 

Hence better collect all the relevant property documents,  produce them before an advocate having good experience in this subject,  obtain his legal opinion,  proceed only when recommended. 

T Kalaiselvan
Advocate, Vellore
85010 Answers
2207 Consultations

5.0 on 5.0

The proposed seller is not having clear and marketable title on his name to sell the property. 

Hence he cannot execute a registered sale deed in favor of subsequent buyer. 

The sale agreement on his name is that he has entered into an agreement for buying this property with the builder. 

If you are desirous of buying this property you may have to enter into a tripartite agreement with the seller and the builder for purchasing the property with conditions agreed there upon. 

This shall be the proper option in this situation. 

T Kalaiselvan
Advocate, Vellore
85010 Answers
2207 Consultations

5.0 on 5.0

Ask seller to give FIR that sale deed is lost or whether he has hypothecated this flat to any financial institutions or Banks kindly check this, otherwise ask to raise FIR for sale of sale deed and publish in the two newspaper one in English and one in Marathi.

 

Rest of things are ok you can proceed with sake deed whether its Apartment or Co-operative society its same. Just get the share certificate from Apartment and NOC.

Ganesh Kadam
Advocate, Pune
12932 Answers
255 Consultations

4.9 on 5.0

Dear Sir,

In the present circumstances, you will be the first owner of the property and the allotment of the said property will be on your name and the name of the seller will be removed. 

Ganesh Singh
Advocate, New Delhi
6757 Answers
16 Consultations

4.5 on 5.0

Sale deed is must for transfer of ownership. Formation of society and conveyance deed are secondary factor. You cannot purchase from owner if he has no POA from builder or registered sale deed. You have to purchase it from builder directly.

No confirming party, seller has no authority to sell the property.

Yogendra Singh Rajawat
Advocate, Jaipur
22659 Answers
31 Consultations

4.4 on 5.0

- As per law, without Registration a buyer has no legal right over the property 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 the seller in whose name the said property has not been transfer legally , 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.

- Further , the seller has not right to transfer the said property in your name only on the ground of registered sale agreement .

Mohammed Shahzad
Advocate, Delhi
13264 Answers
198 Consultations

5.0 on 5.0

You should wait for the formalities to complete. 

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

You shouldn't go ahead with this transaction. Why is the seller selling the property. He may be having some problems. Engage a local lawyer and do some due diligence. 

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

There is a missing sale deed so get the linking ownership documents completed. 

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

4.8 on 5.0

Yes you can go ahead with purchase if builder is ready for execution of triparty agreement and to register the flat on your name directly.

Mohit Kapoor
Advocate, Rohtak
10687 Answers
7 Consultations

5.0 on 5.0

  1. As per the information mentioned in the present query, makes it clear there has not been any sales deed between an existing owner and the builder.
  2. I would like to apprise you that there must be the sale deed with the real owner as of now as if the same is not there then he doesn’t have any right apart from having possession of the property, he cannot sale it further.
  3. And once the sale deed is there then you can freely add up to your documents for having the legal possession.

Sanjay Baniwal
Advocate, South Delhi
5474 Answers
13 Consultations

5.0 on 5.0

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