What is agreement of assignment of rights

BKNK SANGH GOA (Querist) 16 July 2022 This query is : Resolved
What is Agreement of assignment of rights i.r.o. buying a flat from 1St owner in a society .

Is sale deed is possible in case of society not formed and is under process.

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An assignment of rights agreement is a legal document transferring property ownership from one party to another. When buying a flat from the first owner, even if the housing society is still in formation, you can still proceed with a sale deed. The non-formation of the society does not prevent the purchase of the apartment.

kavksatyanarayana (Expert) 16 July 2022
It is always better to buy the property from the 1st owner than from society. But you have to pay transfer fees to society.

Dr J C Vashista (Expert) 17 July 2022
A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another.
It states that a specific piece of property will belong to the assignee and no longer belong to the assignor starting from a specified date.
In order to be valid, a deed of assignment must contain certain types of information and meet a number of requirements.

P. Venu (Expert) 17 July 2022
The non-formation of the Society is not at all a constraint in purchase of the apartment.

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