I am about to purchase a shop on M G road. In negotiations Mr B it was finalize at 45 lac. Now when I was about to make a sale deed, I came to know that the property is in the name of third person Mr A.
Mr A has sold the property to Mr B somewhere around 3 yrs back @ 35 lac but there was payment made of only 20 lac that time, but no agreement or sale deed has been made between the both of them.
Since I have negotiated with Mr B @ 45 lac, will the Sale deed and agreement will between mine and Mr A or
Between mine and Mr B or
Between mine and Mr A and Mr B mentioning that A has sold to B and B has made a Sale deed with me making a 10 lac profit
Will the Sale agreement will be of 45 lac between me and Mr A or with both
Asked 12 months ago in Property Law from Jalgaon, Maharashtra
1) sale deed has to be executed between A and B then only B can sell the shop to you .
2) to confer clear and marketable title to B sale deed is mandatory
3) if B refuses to do so dont purchase the property .
4) in the alternative tripartite agreement can be entered into between A , B and you
5) it is doubtful A would agree to suchj arrangement as he has not received full consideration of shop
6) dont purchase the shop to avoid legal complications
1. I wonder if B has no title on the property what prompted you to decide to buy this property from B.
Have not taken any legal advice while buying this preprty.
2. Only A has right to sell this proeprty. However since B has acquired some intest in the property his consent is also required.
3. SO in other words in the sale deed will have be executed by A wherein the B will as ' Confirming party'.
Without sale deed the title does not pass to the buyer. So if no sale deed is executed in favour of B then A continues to be the owner of the property. You should purchase the property from A who is the owner, but if B subsequently files a lawsuit against A to make him liable to execute the sale deed in his favour or refund the consideration paid by him then your title will be under cloud. So better not purchase this property unless A executes the sale deed in favour of B.
Is it possible that Mr A make a sale deed with Mr B at 35 Lac and on the other side Mr B make a sale deed with me of 45 Lac taking the old sale deed between A and B in consideration and also NOC of A also
Is that right from Law point of view
Asked 12 months ago
1) let A make sale deed with Mr B for Rs 35 lakhs
2) subsequently after gap of a year Mr B can sell shop to you for Rs 45 lakhs
The sale deed in favour of B has to precede the sale deed in your favour by B as one cannot sell the property unless and until he owns it.
First of all it is not advisable to purchase a property fro the person who has no title to the property. There is no sale deed in favour B hence he cannot be the property owner. Whatever transactions that took place between A and B shall not result into conferring title to B on the property without proper registered sale deed on his name.
Therefore ask B to acquire marketable title on his name first and then he may execute a sale deed to you or anyone of his choice by executing a registered sale deed.
Consult a local lawyer for his opinion before making such a huge investment.