Agreement of Sale
10 months ago
I recently entered into a sales agreement to buy a flat with a reputed builder. All through the agreement I am being referred to as the "asignee" and not "purchaser". Will the final document be a sales deed or and assignment deed?
A.Dear Sir,
There is some fishy in the said document. You may show such document to any nearby property lawyer and also show the documents furnished by builder otherwise you may have to face troubles in future.
There is some fishy in the said document. You may show such document to any nearby property lawyer and also show the documents furnished by builder otherwise you may have to face troubles in future.
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A.Dear Client,
In the matter of transfer of title of immovable property always try to follow the standing and traditional procedure that has a legal sanctity and enforceability. Any kind of agreement like an assignment agreement, nomination agreement etc other than an Agreement to Sale should be avoided for the smooth processing of a transaction. Even in case of a housing Loan, Bank did not consider or allow this kind of document having no legal sanctity. In case the housing project is registered under RERA then it is mandatory to execute the Agreement to Sale with the Buyer following their prescribed draft available in the Schedule. So, you should insist the Builder/Promoter to execute an Agreement to Sale in the staanding format acceptable to Registering Authority or RERA to avoid all sorts of future consequences.
In the matter of transfer of title of immovable property always try to follow the standing and traditional procedure that has a legal sanctity and enforceability. Any kind of agreement like an assignment agreement, nomination agreement etc other than an Agreement to Sale should be avoided for the smooth processing of a transaction. Even in case of a housing Loan, Bank did not consider or allow this kind of document having no legal sanctity. In case the housing project is registered under RERA then it is mandatory to execute the Agreement to Sale with the Buyer following their prescribed draft available in the Schedule. So, you should insist the Builder/Promoter to execute an Agreement to Sale in the staanding format acceptable to Registering Authority or RERA to avoid all sorts of future consequences.
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A.An assignment deed is a legal document that transfers the rights and obligations of a contract from one party to another.
It is typically used in the context of real estate transactions, where the original contract is between a buyer and a seller,
and the assignment deed transfers the buyer's rights and obligations to a new party
In your case, you will have an assignment deed.
It is typically used in the context of real estate transactions, where the original contract is between a buyer and a seller,
and the assignment deed transfers the buyer's rights and obligations to a new party
In your case, you will have an assignment deed.
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