• Assignment agreement

Hi,
I have purchased a property as follows.

Builder-Prestige
Seller (A) -Didnt register property
Buyer(B)

I have signed an assignment agreement with Prestige as consenting witness and seller A.This is a franked document and paid stamp duty as well.Prestige registered sale deed in favour of me and got all process done(Sale deed signed by me and prestige). Is this legally fine?
Asked 2 months ago in Property Law
Religion: Hindu

2 answers received in 10 minutes.

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12 Answers

seller A did not have a registered sale deed in his favour

so Prestige ought to have been the vendor/seller

Seller A as consenting/confirming party

and you as buyer 

in absence of a registered sale deed in favour of seller A, seller A had no title in his favour which he could pass on to you 

Yusuf Rampurawala
Advocate, Mumbai. E: adv.yusuf.rampurawala@gmail.com
7074 Answers
79 Consultations

5.0 on 5.0

You have clear and marketable title to property As builder has been confirming party to sale deed 

Ajay Sethi
Advocate, Mumbai
89849 Answers
6516 Consultations

5.0 on 5.0

Sale deed is different from assignment deed. Ownership cannot be transferred through assignment deed. Stamp duty is also different in both instruments 

 

Prashant Nayak
Advocate, Mumbai
28570 Answers
101 Consultations

4.4 on 5.0

yes

Yusuf Rampurawala
Advocate, Mumbai. E: adv.yusuf.rampurawala@gmail.com
7074 Answers
79 Consultations

5.0 on 5.0

yes builder has executed sale deed on basis of assignment done by seller 

Ajay Sethi
Advocate, Mumbai
89849 Answers
6516 Consultations

5.0 on 5.0

There would be no infirmity as such. Though, it's better you show the sale deed to any advocate and take his opinion after he does hisdue diligence. 

Siddharth Jain
Advocate, New Delhi
6203 Answers
101 Consultations

5.0 on 5.0

There is no reason to doubt the validity of registered sale deed. Such sale deed is very much legal and enforceable. 

Ravi Shinde
Advocate, Hyderabad
3525 Answers
42 Consultations

5.0 on 5.0

- An assignment is a sales transaction where the original buyer of a property allows another buyer to take over the buyer’s rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property .

- In simple language we can say that an an assignment deed allows the buyer of a property to sell the same before they take possession of it.

- Hence, it is clear that the Builder was having right to sell the property to the buyer B ,and to execute the sale deed in favor of B.

- Hence, the sale deed by the Prestige in your favor is a legal document of ownership.

Mohammed Shahzad
Advocate, Delhi
10663 Answers
132 Consultations

5.0 on 5.0

Dear client, its totally legal. 

Anik Miu
Advocate, Bangalore
5846 Answers
59 Consultations

4.9 on 5.0

The previous buyer is not the actual owner because no registered sale deed is on his name as on the date of your purchase, hence the sale deed executed by the builder in the capacity of the vendor is very much legally valid.

 

T Kalaiselvan
Advocate, Vellore
80016 Answers
1674 Consultations

5.0 on 5.0

Yes, it is very much legally valid, you need not be worried on that count.

T Kalaiselvan
Advocate, Vellore
80016 Answers
1674 Consultations

5.0 on 5.0

From what you have narrated, the process is legally valid and you hold good title to the property.

Shashidhar S. Sastry
Advocate, Bangalore
4469 Answers
263 Consultations

5.0 on 5.0

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