During the booking a flat in sector 78 noida we made an aggriment in year 2012 with builder in joint name of myself (mother)and my two daughters First name-myself. Second name-my first daughter. Third name -my 2nd daughter Now I want to remove my name as well as 2nd name and make the registration in 3rd name with our mutual understanding.but builder is not ready. Builder is not ready to even remove any one name Pl.suggest me the all possiblIties
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Suggest all possible options.
1) you and your daughter can execute affidavit that you are relinquishing your rights in flat and have no objection if flat is regd in name of daughter only
2) i presume no loan is taken for flat purchase . If any loan is taken you would need bank consent too
3) without builder consent sake deed cannot be regd in nane of yiur daughter only
4) let sale deed for flat be regd in all 3 names . Later yiu can execute gift deed or relinquishment deed in favour of daughter
You and your first daughter can execute a supplementary agreement with the builder to authorize him to execute the sale deed in favour of your second daughter. If he does not agree to your demand then let the builder execute the sale deed in favour of all three of you, and thereafter you and your first daughter can transfer your share to your second daughter.
If it is an unregistered agreement then you can delete the names during registration of sale deed but if it is a registered document then you may have to execute a registered release deed relinquishing your rights and also your another daughter should exercise the same process after which the property can be registered on the desired daughter's name alone.
The builder cannot refuse this because this is the legal process to be adopted in such a situation.
Suggest all possible options.
The other two person can execute a registered settlement or gift deed later on in favor of the daughter who is the choice of single ownership., if the builder is not agreeing for deletion of names in the registered sale deed document.