Sale agreement contents in case of transfer of property - 3rd sale in the history of the property
Querist :
Anonymous
(Querist) 24 October 2010
This query is : Resolved
When there are multiple resales of a flat for example, is it a good idea to put the history of sale in every sale agreement. e.g. if builder sells to Mr. A, Mr. A sells to Mr. B and Mr. B is due to sell to Mr. c, then in the sale agreement between B and C the history of Builder to Mr. A, Mr. A to Mr. B must be breifly described e.g. date, seller, purchaser, agreement reference number etc.
This will ensure that the final agreement is generally sufficient for future searches, and in the event of any loss of original documents, it becomes a ready reference.
There might be other methods, but can this suggesstion be given to the advocate, if it is not already followed ?
Devajyoti Barman
(Expert) 24 October 2010
Yes at the time of drafting the sale deed or sale agreement the chain of title should definitely be described so that the right , title and interest of predecessor in interest of the purchaser can clearly established.
Querist :
Anonymous
(Querist) 25 October 2010
Expert Barman has limited his reply to the predecessor - my point was beyond that - the complete chain of transactions from construction to current should be listed, described or in some way embodied in the agreement - this can be done by way of an Annexure Table instead of being verbose - I have seen this verbosity most regularly in the case of land transfer deals, and in the first construction on land kind of sale agreements. Want specific views on FULL-CHAIN disclosure - is it normal Advocate practice, is it recommended...hanks in advance
s.subramanian
(Expert) 25 October 2010
Yes. It has to be done as per sec.54 and 55 of the Transfer of Property Act. The seller is bound under those provisions to provide warranty for title to the buyer. Hence it is absolutely essential.
