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Author Topic: transfer of ownership  (Read 302 times)

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Offline swapna

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transfer of ownership
« on: May 05, 2016, 10:44:29 PM »
I owned one  old building  in thane, Redevelopment rights for the same are given to one developer. There are 8 tenants, one owner and 2 ownership members  who are residing in building.Out of 8 tenants 4 tenants are settled by developer.remaining 4 tenants & 2 ownership members are not cooperating to developer  from last 4 months.Now developer is stating that he is ready to  pay stamp duty   and takes full  ownership rights from me and his name will appear in property card.So that all the 4 tenants & 2 ownership members will co operate him.

My question is  this the solution   for redevelopment of  my property.If tenants do not want to co operate they  will do so in future also.

what are the advantages & disadvantages of  transfer of ownership from actual owner to developer?

Offline advjaibansal

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Re: transfer of ownership
« Reply #1 on: May 06, 2016, 12:06:37 AM »
Dear Ma'am,

If you transfer the ownership then you loose your ownership in the property. If means, you are selling your property to the builder for some or other consideration amount, which will be written in the sale deed. I agree with you if tenants are not cooperating now they will not even cooperate after transfer of ownership. Further, you only want your development of property hence there is no need to transfer of ownership to the builder. I don't know what is the hidden agenda of the builder is getting the ownership transferred in his name.

Please consider all the options before transfer of ownership to builder.

REgards,
jai bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
mobile: 09868566649

 

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