difference bet. agrmnt. for sale &sale deed
AJIT KAWATKAR
(Querist) 01 July 2009
This query is : Resolved
i entered into an agrmnt. of sale in 1991-92.consideration value was Rs.145000/-stamp duty of Rs.1200/-aprox.paid &was registered. i received possession of the flat in 1993.we have NO SALE DEED.while handing over the possession the value remained the same i.e.Rs.145000/-do/ should i have separate sale deed ? is there any extra stamp duty i have to pay?please guide. ppty is in maharashtra.
sanjeev murthy desai
(Expert) 01 July 2009
Dear Mr. Ajit Kawatkar.
Agreement sale is not a title deed and it does not confirm your ownership. So you should have to sale deed executed by the Vendor or his legal heirs. Also you have to be pay the present stamp duty prescribed by the state Governemtn on that Sale Deed.
sanjeev desai
PALNITKAR V.V.
(Expert) 01 July 2009
please specify whether the flat is governed by Maharashtra Ownership of Flats Act or Maharashtra Apartment Ownership Act. That will really govern the question.
A V Vishal
(Expert) 01 July 2009
An agreement to sell is just that A promise if you will, that you will sell something to someone.
A sales contract is far more important and far more legal. If for example you want to purchase a new car, this contract that you and the dealer fill out is called a Sales Contract, and both parties are bound by what this contract says.
Kiran Kumar
(Expert) 01 July 2009
both Mr. Palnitkar and Mr. Desai are correct.
an agreement to sell does not create title in the property.
a sale deed does create the title.
better u consult some local lawyer, may call Mr. Palnitkar, since he is also from Maharshtra thus will be in a better position to advice u.
show ur counsel the relevant documents also.
Jayashree Hariharan
(Expert) 02 July 2009
Agreement to sell is just an agreement, you don't become a owner due to sale agreement. Sale agreement can be breached anytime, within the time mentioned in it. Agreement to sell is not a complete document. You cannot get khata, cannot pay tax in your name, etc. You are a owner only if you have sale deed.
so sale deed is compulsory. It has a separate stamp duty amount, and is different from sale agreement, even in contents (some clauses, i mean).
pls refer local lawyer for stamp duty amount.
RAKHI BUDHIRAJA ADVOCATE
(Expert) 02 July 2009
My all Ld. friends viewed absolutely right. U will have to get execute the sale deed of that property either from the person from whom u purchased the same or through his legal heirs.
AJIT KAWATKAR
(Querist) 02 July 2009
dear hon'ble palnitkar; in the agrmnt. for sale there is a reference of MOFA in case of any disput.it also mentions that the developer reserves the rt. for formation of co-op hsg. soc. or apartment ownership.for some undisclosed reason/s the formation of either is pending for 16 yrs now. how is it possible to pay stamp duty{diff} in absence of sale deed? what is the way out?
PALNITKAR V.V.
(Expert) 02 July 2009
if the agreement to sale is registered under sec. 4 of the MOFA, you are not required to pay additional stamp duty since you must have paid full stamp duty on the purchase price at the time of that agreement. In fact it is the duty of the promoter/builder to form a society and transfer all the property i.e. land and building in favour of the society under the provisions of the MOFA. If the builder doesnt, it is a cognizable offence.You can also make an application to the Registrar, Cooperative societies to compel the builder to form society. Any five flat holders can also make an application and form society if the promoter is not forming it. If he is prepared to execute sale deed in your favour, get it. In the case of MoFA, your share certificate, if any, assumes importance and not the sale deed.Please check the following link
http://www.mumbaipluses.com/santacruzplus/index.aspx?page=article§id=9&contentid=20071003200710041255301872fb9062e§xslt=&comments=true
adv. rajeev ( rajoo )
(Expert) 02 July 2009
when there is an agreement of sale then you will have to get the regd., sale deed.because agreement of sale is not a tittle deed.
