Assignment of allotment rights to property.
Anil Kumar Ahuja
(Querist) 05 October 2010
This query is : Resolved
Can an allottee to whom property or land has been alloted by a local authority like DDA,Urban Development Authorities or Government through an allotment letter and where the dues have been fully paid up by the allotee with permission of the alloting authority in that regard , assign such allotment right in favour of his creditor, pending regual registered conveyance deed in his favour, in consideration of loan raised from such creditor?
Whether on such assignment, the assignee shall have the right to get the conveance deed executed in his favour from the alloting authority?
R.Ramachandran
(Expert) 05 October 2010
While legally such action is permissible, you have to go through the terms and conditions of the allotment before coming to any conclusive opinion.
Devajyoti Barman
(Expert) 06 October 2010
Without seeing the agreement it is difficult to advise.
