Dear Sirs,
I, along with my two sisters inherited a residential plot from our parents at Chennai. We have entered into an unregistered Joint Development Agreement with a builder for construction of 4 flats out of which one will be retained by him together with the right over one fourth of undivided share in the plot. We have also given a registered power of Attorney to the builder to enable him get necessary approval etc. for completion of the project etc. Neither the sisters will any money to the builder nor the builder is liable to pay any money to the sisters. The project has been completed successfully to our satisfaction and the flats are being handed over to us very shortly. The builder also is in the process of disposing off his share to a third party. No dispute exists with the builder. However, among the three of us, the sisters, there is lack of unanimity, on the issue “post taking over of the three flats from the builder as to what kind of document shall be brought up for registration for future towards for a litigation free future”.
The following two different legal opinions exist with us:
A. Two sisters are having in hand a legal opinion to the effect that:
once the three flats are handed over informally by the builder to the satisfaction, each sister shall register a document in the name of “partition deed” or “settlement deed” or “release deed”, in the form of giving away the 2/3rd right to other two sisters individualy vice versa, thus identifying the specific flat to each individual together with 1/4th undivided share of the land. There ends the matter and it takes care of the right of the individual, over 1/4th of the entire property forever.
B. The third sister is having in hand a legal opinion to the effect that:
The “Flats are to be registered (?)” “by the three sisters individually”, with the involvement of the builder, identifying respective flat to the three sisters together with undivided share of the 1/4th land area. This will take care of everything for the future. No other document of a separate partition deed is necessary.
It is in this situation, my query before Law fraternity is that, apart from the above mentioned two documents entered into with the builder as mentioned in para-1 above which becomes redundant once the flats are handed over to us, is there a need for any other document, registered or unregistered, to be brought out with the involvement of the builder for Registration of the 3 flats? Or else the partition deed mentioned at “A” above is enough and no other document is necessary.
I will be grateful for an advice in this regard.
USHA
