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Author Topic: Hand over/Surrender of Original Title Documents to Buyers or Buyer's Association  (Read 174 times)

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Offline Jayasuriyan

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I, an Indian resident purchased a 3 BHK flat on lumpsum price of Rs 47.00 Lakhs at Bangalore and an “Absolute Sale Deed” has been registered on 11th April 2016 as briefed below:

1. Vendors      : Two Land owners – Area measuring 10,800 Sq. ft.
2. Developer      : A propriety Firm – Who developed & constructed 4 Floors consist of 24 flats by way
                                             of Joint Development Agreement with Vendors (Land owners)
3. Purchaser      : Myself –resident of Bangalore, purchased a 3 BHK Flat with 411 Sq.Ft of UDS
                                             (Un Divided Share of Land- UDS).

As a purchaser, an “Absolute Sale Deed” was signed by Developer (GPA of Vendors) and it was registered with Registrar of Jayanagar, Bangalore. 

The Original Land Title & Mother deed documents are common for all 24 Flat owners.

In all the 24 Flats “Sale Deeds” it is mentioned that the “Original title deeds shall be handed over to the Owners Association on formation of the same”.

 Hence purchasers are left with “Absolute Sale Deed” duly signed by “Developer” on behalf of Vendors (Land owners), which are Registered with Registrar of Jayanagar, Bangalore.

 Now all the Flats has been sold and “Owners Association” is formed and functioning its duties. 

Please clarify on the following points:

1.   Is Land owners are duty bound to surrender “Original Title Deed” to “Owners Association” as agreed by Developer in Sale Deed? 

2.   In the case of, Land owners (who are also resident in two of the flats) refuse to hand over the “Original Title Documents” what are the legal remedies for all other flat owners?

3.   What is legal procedure to be taken by Flat owners under which ACT & Section?

4.   What is time take for “Owners Association” to recover the said documents from Court Proceedings?

5.   Is Flat owners can legitimate to Re-sell their flats with the available first “Absolute Sale Deed”? Or do they need of original land title documents to show to second buyers?

6.   Are the Flat owners are eligible to avail any loan on mortgaging their flats with the available registered “Absolute Sale Deed”? Or they need of Original land title Documents to show to lenders.

I appreciate your valuable comments and suggestions to guide us on the above matter.

Thanks & Regards,
Jayasuriyan.R
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