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Author Topic: Legal Advice on Underconstruction Property Purchase  (Read 212 times)

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Offline smvmanohar

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Legal Advice on Underconstruction Property Purchase
« on: February 28, 2018, 07:30:33 AM »
Purchasing the under construction Property. Builder A is allocated a flat to Vendor X.Vendor X provided raw material like Cement & Iron to Builder and both have CRedit Note Transactions.But don't have any sale agreement between Builder A and Vendor X.Now Vendor X want sell the under construction property to Purchaser Y.There was a MOUhappend between Y and Vendor A and Triparty agrrement happend between Builder A ,Vendor X (i.e. Seller) and Purchaser Y.Now Y planning to go for registration.Builder said Sale Deed is going to happend between Builder and Purchaser Y only and Vendor X will singed as a witness in Sale Deed.Please let me know i am going with right way

Offline advjaibansal

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Re: Legal Advice on Underconstruction Property Purchase
« Reply #1 on: February 28, 2018, 08:41:32 PM »
Dear Sir,

This is how the sale deed is executed normally in such kind of understanding as the property is in the name of the builder. He can only execute the sale deed in favour of y. Please go ahead and get the sale deed executed. Please make the payment to the person who is owner of the property on records and he can only execute the sale deed in favour of y. I think in your case it is the builder who is the owner of the property on records.

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

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