Query on execution of sales deed
Mehul55512
(Querist) 17 February 2012
This query is : Resolved
http://www.lawyersclubindia.com/experts/details.asp?mod_id=223341
From the above link I am clear on the purpose of Agreement for Sale and Sales Deed.
Now, I request your advices on the below scenario -
Agreement of Sale was executed between Builder, Land owner and Purchaser and the same was also registered and Stamp duty up to Rs. 30,000/- had also been paid.
Purchaser had cleared the outstanding total consideration and Builder had also given possession of the flat and had also given possession letter and acknowledged payment made by purchaser by furnishing receipts.
However the Sales Deed was not executed after the above step.
The purchaser resells the flat and also gets a NOC from the Builder and provides the same to the new Purchaser.
Four years have passed since the Agreement of Sale was executed.
My question is - If the Sales deed has to be executed now, between whom should it be executed?
a) between Builder, Land Owner and Purchaser OR
b) between Builder, Land Owner and New Purchaser OR
c) between Builder, Land Owner and Both the Purchaser?
AND
Will Stamp Duty have to be paid, even though Stamp duty was already paid on Agreement of Sale?
Note - There were no terms in the Agreement of Sale which indicates that the Agreement of Sale would be treated as Sales Deed once the Builder and Purchaser obliges each other.
Thanks for your valuable advice in advance.
Regards
Mehul Shah
sanjeev murthy desai
(Expert) 17 February 2012
See you have already transfered your enforcing rights in favour of new purchaser hence such sale deed should be execute in favour of new purchaser and it is advisable to you should have to signed as a confirming party in such sale deed.
ajay sethi
(Expert) 17 February 2012
agree with sanjeev murthy
Kiran Kumar
(Expert) 17 February 2012
since the title in actual terms was not conveyed between the original seller and the 1st purchaser....so now for subsequent sale the conveyance has to be from the original seller to the 2nd purchaser...however the first purchaser may become a witness to the matter.
H.M.Patnaik
(Expert) 20 February 2012
I think Mr. Kiran has put it rightly .
The first agreement between the Landlord, Builder and First purchaser was only an agmt. to sale the proposed property. Title to the property did not get transferred through this agmt..
Now, when the ultimate Purchaser is decided and Consideration is satisfied , requisite Sale Deed can be executed between the Original title holder and Ultimate purchaser in which both the Builder as well as First Purchaser should sign as Witness to avoid any future dispute.
