nizam 25 August 2015

Original sale agreement is misplaced

Hello Sir,

We bought a resale flat in 2012 from first owner who bought the flat from the builder. At that time (2006), the first owner made a "sale agreement", "Construction or Build agreement" and "Sale Deed" with the builder. The "Sale Deed" is registered, but the "Sale agreement" and "Build agreement" is not registered, but just 100 Rs franking is done on those agreement papers. I have original Sale Deed of first buyer vs Builder and Original Build Agreement. But the original Sale Agreement is misplaced by the first owner and i have only photocopy. Now i am planning to sell my flat and the purchaser is asking original Sale Agreement. Since the sale agreement is not registered and it is just between the build and first owner, i cannot get certified copy from registration office. In this case, i have following queries.

1) Does the Original (unregistered) Sale Agreement of First Owner (and Builder) necessary for 3rd transaction?

2) If Bank insists to get the said original Sale Agreement, how i can proceed with this?.

3) Can i make new pre-dated sale agreement (as same as original) and get signature from First Owner and Builder as both are staying near the same apartment premises?. (But franking cannot be done as the date is old).

Thanks & Regards,

Nizam

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9 Replies

Hardik Katariya 25 August 2015

Make F.I.R for its lost... And get a copy of sale deed from registrar's office...

Kumar Doab (FIN) 25 August 2015

The documents in sequence are: 1st Agreement to sell, 2nd Registered Sale Deed

You have bought and have Registered Sale Deed.

Now you have to sign a fresh agreement to sell with next buyer and this agreement is required by bank if next buyer is approaching bank for loan.

The agreement to sell that you signed before buying is not required.

Why it is demanded and required is not understood!

nizam 25 August 2015

Hi Hardik,

Please note that we have Original Registered Sale Deeds (First Owner vs Build and First Owner vs Second Owner - that is us). The only missing original document is unregistered Sale Agreement between First Owner and Builder which is not registered and hence it will not be available in Registrar's office.

Thanks Kumar. I have also mentioned the same to new buyer. The Construction Agreement document (again between First owner and Builder - not registered) which is executed before the sale deed, mentions about the sale agreement document. The First owner signed Sale Agreement for UDS purchase and Construction Agreement for Flat construction (SBA) on the same day. Once the flat construction is over, the first owner and builder executed the Registered Sale Deed that has both UDS and Flat's SBA. In this case, i feel the unregistered Sale Agreement is not mandatory as Regsitered Sale Deed superceded the earlier sale agreement. It seems the bank executive misunderstood the document as Sale Deed and asked us to file FIR and paper notification.

Hardik Katariya 26 August 2015

Hi Nizam. Well then u have to make a new deed and have its registry ...

THANGADURAI (Proprietor) 26 August 2015

Dear Mr.Nizam,

The bank may not insist for sale agreement between the builder and first owner. The bank will insist you for the sale deed plus the original constructin agreement in which the UDS, Flat location found in the building as a 'schedule of property' for the particular flat.

Sale agreement is the title for UDS of the land only. For the Flat concerned, the Construction agreement is must. If the original is missed, you can alont with the first owner try with the builder a certified copy in stamp paper or a copy in stamp paper to be dated before the original sale deed and get it.

I am a builder and I had faced similar problems with my clients and solved it.

Wish you good luck!

nizam 26 August 2015

Hi Thangadurai

Thanks for the reponse. I can get certified copy in stamp paper from the builder.

Regards,

Nizam.

Kumar Doab (FIN) 26 August 2015

Mr Thangadurai has indeed concluded the thread properly and precisely.

Advocate Ravinder (Advocate/Attorney) 26 August 2015

Once the sale deed is registered by first owner in your favour, the sale agreement and construction agreement made with the builder are not necessary. If the bank insist for giving loan, then take NOC from the Residents Association (in case assn. not formed, from the Builder). The other documents i.e. Building permission etc you can obtain from the Builder/assn.