Purchasing Under-construction flat
3 years ago
I am going to purchase a flat from builder in under-construction building near to possesion,OC not yet received but expected in two months. Project is RERA registered.
When I reached builder office for booking, he told me that he have already shown the sell of flats on his different relatives on record, (Didn't understand why,may be shown sell th government authorities), The flat which I am going to purchase is shown by him as sell to his brothers son.
Now He informed me to make payment on the name of the Brothers son(On who's name the flat is shown as sell).
Now I am confused whether to buy this flat or not? And if wants to buy then what is the procedure and how the agreement is to be made. is it legal to buy this flat?
Purchasing a property which is registered under someone else's name will not provide you a good title over the property. You may have to face a lot of consequences in the future. If you find this helpful, please rate us.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
Purchasing a property in someone else’s name, can significantly complicate matters, not only for the buyer but also for the person in whose name the property is purchased, if the right formalities and legalities are not adhered to. It may also create problems in the future, during the sale of the property. “The sales consideration always comes in the registered person’s account and its recovery will be difficult. So please check the required documents before you purchase this flat. If you find this helpful, please rate us.
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