JAGADEESH GOVIND (ADVOCATE) 01 April 2008

Assignment

Dear sir,

In a builders construction agreement it was noted that the Client shall not assign his rights without permission of the builder and he has to pay Rs.100/- per sq.ft to the Builder.Moreover the assignment shall be effected only after the entire payment of contract amount.

Is this obnoxious clause is legaly valid ?

I think the assignment of interest is a inherent power of a holder.Pl advise.

Regards,

Jagan

Reply Follow

3 Replies

Rajendran Nallusamy (Advocate) 01 April 2008

I too feel that once the undivided share in the land is registered in the name of the purchaser, the builder has no right to complain.

Viral Shah (Service) 02 April 2008

I also agree that builder has no right at all after registration of the property to someone........And the Purchaser can do anything with his property..... without any interference of anybody.... That clause should not be there in the deed....... Thanks

Manish Singh (Advocate) 05 April 2008

It depends upon several other factors also and since we are not aware of the facts exactly it is difficult to express any opinion and you are a legal person so you beetr know it.