Change in banakhat

bharat choudhary (Querist) 12 November 2020 This query is : Resolved
MY property is under construction and banakhat was already done under two-person (joint), is it possible to remove one person from it. If yes then what would be charged for it.

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Quick Summary

A Banakhat, or Agreement of Sale, can generally be amended to remove a joint owner before the Sale Deed is executed, provided all parties involved consent. The ability to do this often depends on the specific clauses within the original agreement. If permitted, an amendment can be made, though stamp duty may be levied as if it were a new agreement, depending on local regulations.

Isaac Gabriel (Expert) 12 November 2020
State facts so as to give advise

kavksatyanarayana (Expert) 12 November 2020
Banakhat means "Agreement of Sale". In general, in Sale agreements, it will be mentioned in the 2nd para of sale agreement that "after payment of full consideration in time as noted in the deed, the sale deed will be executed in favour of you or your assignees/heirs/representatives/". so if such clause is mentioned in the sale agreement, at the time of registration of sale deed, you can remove one person name. If you want to remove immediately, then an amendment to that deed be executed. But the stamp duty will be levied as same on the original (this rule vary from one State to another State).

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Advocate Bhartesh goyal (Expert) 13 November 2020
As per terms and conditions of sale agreement you can remove another persons name from sale deed or add some other person.

Rajendra K Goyal (Expert) 13 November 2020
Any change in Banakhat can be effected with the consent of all parties.

Dr J C Vashista (Expert) 15 November 2020
Terms and conditions of agreement to sell (which you have stated to be "banakhat" a local terminology) shall have to be perused.
However, you can change the agreement before execution of Sale Deed with the consent of other partner as well as seller.

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