Agreement of Sale cum GPA wtih Posession
9 months ago
Mr Y bought a plot of land having 300 Sq.Yds from Mr X by paying full consideration and Mr Y got it registered in his name at sub-registrar office through document titled as "Agreement of Sale cum GAP with possession" on 18/04/2022. Mr Y paid full consideration to Mr X. Now I wish to buy this plot from Mr Y thorugh Sale Deed. I understand that Suprement Court declared "A transfer of property through Sale Agreement with GPA is declared as invalid". Both Mr X and Mr Y are alive. Mr X (the original seller) is ready to sign on the Sale Deed to be executed between Mr Y and me. In the Sale Deed Mr Y will be the Vendor and I will be the Vendee. What will be the role of Mr X in the Sale Deed? Is it a "Consenting Party" or any other nomenclature? Please advise me how to go ahead with Sale Deed. What additional clause I need to put in Sale Deed in order to flow complete title and interest of Mr X and Y in the plot to me?
Consenting Party means any Person whose consent or waiver is or may be required under any Contract in connection with the Transaction Documents or the consummation by either party of any of the transactions contemplated thereby. Confirming Party means the party designated in the Base Contract to prepare and forward Transaction Confirmations to the other party. One who confirms the sale having absolute rights or being the joint owner can be the confirming party, and others who have indirect rights over the property become the consenting witness in such transactions. In your case, it would suffice if X signs the deed of absolute sale as a Confirming party. For further clarification, if required, you may seek counter opinions on the subject from other professionals.
In the Sale Deed between you (the Vendee) and Mr. Y (the Vendor), Mr. X (the original seller) will have a crucial role as a "Consenting Party." Since Mr. X is the original owner of the plot and has previously executed the "Agreement of Sale cum GPA with possession" with Mr. Y, his consent is essential for the transfer of complete title and interest in the plot to you. In the Sale Deed, Mr. X will be required to provide his consent to the transaction and acknowledge that he is aware of and approves the sale of the property from Mr. Y to you. This consent will help validate the transfer and ensure the flow of complete title from Mr. X to Mr. Y and then to you, as the new owner. To ensure a smooth transfer of ownership, it is advisable to include a clause in the Sale Deed explicitly stating that Mr. X consents to the sale and transfer of the property and that he acknowledges the transaction between Mr. Y and you as the Vendee. Additionally, it's crucial to engage the services of a qualified legal professional to draft the Sale Deed with all necessary clauses and ensure compliance with applicable laws and regulations.
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Replied 9 months ago
Thak you very much for your valuable answer sir. I have a doubt sir. Is Mr X should be "Consenting Party" or "Confirming Party" in the Sale Deed between Mr Y and Me?
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