Planning to buy a resale villa which was initially bought in 2010 ... it is actually two house sharing same compound 31a and 31b total land 2000sq ft Uds 1000 sq ft each We are planning to buy 31b In sale deed schedule and boundaries are written correctly But in construction agreement boundaries are wrong What impact does it has ? Is it possible to rectify the issue ?
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1) if in sale deed schedule and boundaries are correctly mentioned you are safe
2) contact a local lawyer and verify whether title is clear and marketable
3) is the construction agreement duly registered? A construction agreement is a comprehensive document that describes rights, duties and obligations of both parties. It also has specifications of the apartment to be constructed.
4) deed of rectification can be executed by builder
Sale Deed is one of the core legal documents that evidence the proof of property sale and transfer of ownership between the seller and the buyer is the Sale Deed. This document will help you ascertain whether the flat/ Villa in an apartment complex which you are buying, is on land belonging to the society/ builder/development authority in which the property is located. The first step is to see the title deed of the land which you are going to buy. Confirm whether the land is in the name of the seller and that the full right to sell the land lies with only him and no other person. It is better to get the original deed examined by experts. Along with the title deed, the buyer can also demand to see the previous deeds of the land available with the seller.
This is the most important aspect to be considered before buying a house. If you are buying a house on a leasehold land or land owned by government, do check for the non-objection certificate from competent authorities. To get such a certificate, you may have to pay prescribed fees which will further inflate the consideration for the property. The other most important thing is the entire history of agreements pertaining to that property.
If the boundaries are correct in sale deed then there is no contingency or issues arise in future. Also peruse the building approval Plan.
The authorities sanction a building approval plan taking into consideration the zonal classification, road width, floor area ratio and plot depth. One can obtain a building approval plan by submitting a set of documents such as the Title Deed, property assessment extract, property PID number, survey sketch (from the Department of Survey and Settlement and Land Records), up-to-date tax paid receipt, earlier sanctioned plans (if any), property drawings
The title originates from the sale deed, not the construction agreement, but if there was an agreement to sell or construction agreement where the description of the property is different from what it now shows in the sale deed then this is actionable through a suit for specific performance by the aggrieved buyer. If there is no clause in the sale deed which recognizes the mistake made in the construction agreement then I would stay away from this property. In a property dispute even a small spark leads to a huge fire.
It is the sale deed which is later deed which counts.
The mistakes in descriptions if any was made in earlier which is corrected in the latest of final deed.
So you have nothing to worry.
Once sale deed is executed and registered its contents alone counts.
However to remove future complications if any you may ask the seller to execute a deed of rectification.
The construction agreement shall be made in a haste without giving attention to this technical flaw.
However that my not be a problem until the neighbor raises an objection to this.
Rectification deed to the construction agreement (if registered) may be executed to correct the property details.
I am going to register the property along with my wife name in the title (joint) Is it possible to make it as either or survival option which is available in bank account That is even one dies all the rights goes to the survivor absolutely ... but not to the legal heirs can claim for the property in the future
when property is purchased in joint names both are co owners of the flat
2) it is not possible to make it either or survivor as in bank account
3) if you want flat to go to your wife on your demise you should execute will in your wife name
4) will should be attested by 2 witnesses
A joint title would mean that both of you will have title to the extent of 50% each. The concept of either or survivor cannot be incorporated in the sale deed. If you want your share to go to her or vice versa then execute a will.
There is no such option called either or survivor in the joint ownership or joint registration of the property.
If you so desire that the entire property should go to her after your lifetime or vice versa then you both can execute a Will in each other's favor and get it duly registered with the options for revocation of the same at a later stage depending on circumstances.