Property Transfer after cancellation deed by previous buyer
2 years ago
I have bought a flat from builder. This flat was a cancellation flat where a proper cancellation deed was made and the necessary documentation was done. Since I bought from builder I also did agreement. For bank loan bank demanded cancellation deed which was provided by builder to bank. My question is that when in future I will sell this property would my agreement would suffice or I would require cancellation deed of previous buyer as well.
A.Dear Sir/ Madam,
A buyer is always interested in terms of the deed, parties conduct and records maintained regarding the property so you don't need to provide a cancellation deed unless asked for.
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A buyer is always interested in terms of the deed, parties conduct and records maintained regarding the property so you don't need to provide a cancellation deed unless asked for.
If you find this response useful then please rate this.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Dear Sir/ Madam,
While entering into an agreement one will always give due consideration to terms/ clauses of the sale, the conduct of the parties and the records produced therefore there shall be no such need every time in the future unless you are asked to show by the potential future buyer.
If you find this response useful then please rate this.
While entering into an agreement one will always give due consideration to terms/ clauses of the sale, the conduct of the parties and the records produced therefore there shall be no such need every time in the future unless you are asked to show by the potential future buyer.
If you find this response useful then please rate this.
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A.Dear Sir,
In future you have to hand over cancellation deed also along with your Sale Deed to your prospective buyer. Get entry in the encumbrance register maintained by Sub-Registrar office.
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In future you have to hand over cancellation deed also along with your Sale Deed to your prospective buyer. Get entry in the encumbrance register maintained by Sub-Registrar office.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.It is necessary to scrutinize that Deed of Cancellation for its scope,meaning,effect and future impact as well as whether it has been done in registered manner or not because if the earlier buyer had registered Sale Agreement,then the Deed of Cancellation of such registered Sale Agreement has to be done in registered manner with proper terms and conditions otherwise you being the new buyer have defective title thereon which may likely to cause difficulty as and when you will going to sell your Flat to any prospective buyer.
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