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Bhushan   17 August 2018

assignment deed

i have been told that in the case of a resale of a flat, purchased directly from the builder and the society is not yet formed, then a sale deed is not valid. you need to prepare a deed of assignment. is this true?


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 6 Replies

Bhushan   17 August 2018

guys. anyone to help/ advice????

Adv Deepak Joshi +917017821512 (Advocate)     17 August 2018

Dear querist,

 Deed of assignment is a legal document that transfers the interest of the owner of that interest to the person to whom it is assigned, the assignee. When ownership is transferred, the deed of assignment shows the new legal owner of the property.

 

An "absolute sale" deed is defined by having no conditions attached to the sale except the buyer's payment of the purchase price. When the seller signs and delivers the absolute sale deed, this is generally recognized by law as the moment of sale.

 

If you got absolute title then from your builder/pervious seller then you should sign sell deed, in you got only occupancy right then you can only sign Deed of assignment. 

 

Thanks and Regards

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600

 

 

 

 

 

Bhushan   17 August 2018

so this has got nothing to do with whether the society has been formed or not.

Kumar Doab (FIN)     21 August 2018

'Buyer Beware' applies to property deals.

It shall be appropriate to get proper legal opinion from a very able LOCAL senior counsel of unshakable repute and integrity specializing in revenue/property/civil/consumer/DRT matters and well versed with LOCAL applicable rules/laws e.g; MOFA etc  etc   and having successful track record…. and worth his/her salt , before signing or making payment.

This may cost some FEE but can defend long term interest and hard earned monies.

Obtain proper written legal opinion on clear and marketable title, approvals etc!

Kumar Doab (FIN)     21 August 2018

 

IT is felt that deed of assignment is after formation of society.

Rest your own very able LOCAL counsel can advise you in person after wexamining all docs and inputs in person.

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