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Sale deed and or conveyance deed
7 months ago
I have a flat in a society (containing 5 buildings).
I had done only agreement for sale with builder and then Bank agreement for loan purpose.
I have not done any Sale deed nor our society has completed conveyance deed with builder.
What do I need to do, in case I want to sale my flat before conveyance deed is done ?
A.Dear Client,
An Agreement for Sell does not confer any title or interest on the Purchaser, until and unless a deed of conveyance is executed and registered between the parties. Moreover, you availed of the home loan from the Bank on the basis of the said agreement to sell executed between you and the builders and accordingly, the Bank got the first charge over the said property against which the home loan is sanctioned. So, in the given situation, without the consent or permission of the Bank neither you can revoke or terminate the agreement to sell nor sell out the said flat to any other third party.
An Agreement for Sell does not confer any title or interest on the Purchaser, until and unless a deed of conveyance is executed and registered between the parties. Moreover, you availed of the home loan from the Bank on the basis of the said agreement to sell executed between you and the builders and accordingly, the Bank got the first charge over the said property against which the home loan is sanctioned. So, in the given situation, without the consent or permission of the Bank neither you can revoke or terminate the agreement to sell nor sell out the said flat to any other third party.
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A.Dear Sir,
You must immediately get sale deed from your builder if it was not taken by the banker. Normally the sale deed is required by the banker to release the loan.
You must immediately get sale deed from your builder if it was not taken by the banker. Normally the sale deed is required by the banker to release the loan.
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