Hi . i was looking to buy a property and we found a flat we have liked. The seller is the first allottee from DLF and has the original conveyance deed and the RWA agreement. He has however lost the builder buyer agreement , possession letter and allotment letter. He is willing to get certified true copies from DLF In this case given the original conveyance deed is there , can one go ahead with the transaction. We checked with the RWA and his name is listed as the owner If we buy this with the certified true copy from DLF , would it be a problem when it comes to selling this property
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1) since seller has original conveyance deed and is willing to obtain certified copies of BBA, possession letter and allotment letter you can go ahead with the deal
2) ask seller to file FIR about loss of originals and issue public notice in this regard
No, there is no problem but first of all get the complete chain of property, either original or certified copy of the same, for security of future complications.
Hi, It is better you can apply the certified copies in the Sub-Registrar with respect to the copies of the lost documents.
2. The seller has to lodge a police complaint stating that the sale deed has been lost and also make an affidavit to that effect and also make paper publication with respect to the lost documents.
3. With all the above precautions you can buy the property.
A Builder/Buyer (Buyer Seller) Agreement is an important document while transecting to buy a property. This agreement holds all the clauses, terms and conditions and legal implications, for the buyer and the developer, should there be a default from the either sides. A builder-buyer agreement will contain all the clauses that are essential for the construction of the flat including the fixation of carpet area, The time frame of the project
The payments terms and clauses, Interests, penalty, default charges for a buyer Approvals, sanctions, obtained by the developer to undertake the development, Approved layout plans and drawings of the project, Title and ownership of the project, Is the development being out sourced, Is the land clear of loans / mortgages, where the developer proposes to undertake the development, etc.
Therefore you can obtain the attested or certified copy of the BBA and RWA, if the BBA has been registered you can get a certified copy for the registrar's office itself.
You should take a legal opinion from your own lawyer before venturing into the purchase if you find some discrepancy anywhere.
The BB agreement has scrap legal value and character after the execution of conveyance deed in favour of the buyer as the title to a property flows from the conveyance deed and not BB agreement.
If your due diligence records a finding of title being free and marketable then the absence of BB agreement becomes insignificant,
first you should confirm that he is only allottee or real owner of the property. hire a local advocate and cross check conveyance deed and mutation in his favour. do inquiry from the DLF office because papers will be available in the DLF office. you should take a undertaking from him regarding lost of that documents
