Dear Sir/Madam,
I have booked a resi. property. But at the registration, developer is going to conduct a tri party agreement/registration. Three parties are as below;
a. Seller who is director in developing company
b. Buyer myself
c. Developing company who is consenting party
As per developer person who is also a director of a developing company, he'll buy a resi. property from developing company (RERA REGD.) then he will sell the same resi. property to me.
Registration of a document is planned tomorrow.
So my queries are as below;
1. Is there any legal complexity in this buying/selling a resi. property? if yes, then what it is going to be?
2. Shall I go ahead with such kind of deal ?
3. Is there any other way around out of this situation?
4. Today or tomorrow I can able to see the drafted document.
5. Any issues you see in the formation of society in future?
please guide.
Depend on the guidance of the local advocate, as he is the competent professional to study the terms and conditions in such TPA and such rights. Unless the other parties rights and terms and conditions favourable only to them are studied, it is not proper to expect guidance when you are investing hard earned money in such life long investment.
