Sale and construction agreement missing

you need to take indemnity bond cum undertaking from the seller. further, the seller needs to file an FIR with the loacal police station for the lost of documents and also issue advertisement in the local news paper for the same and also disclose about the sale of flat and invite objections from thrid pzrty, if any.

This should take care of your problems. further, you need to mention these facts in the sale ded/ agreement of sale also.

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai

Thank you very much for you suggestions here - truely helpful.

The seller has now taken following actions:

a. FIR has been filed

b. The Advertisemnt has been given in three news papers (one Kannada and two English News papers) about the loss of document

c. The seller is now doing an affidavit - I hope it is indemnity bond cum undertaking - as you suggested

More questions:

a. In the advertisement the loss of document was mentioned. Do we need to give another ad and mention about the sale of flat and invite objections, if any?

b. These actions (FIR, Advertisemnt, Affidavit) will be mentioned in Sale Deed - as you suggested. However, the agreement of sale was already done a month ago on which I have been granted loan already. Do we need another agreement?

Thanks a lot.

no, you need not execute fresh sale deed or agreement of sale. "There won't be any point toinvite the objection if you have taken the possession of the property.

But you would be required to obtain indemnity bond and undertaking from the Seller about this issue otherwise he you may come in trouble n the future.

You need to appoint a lawyer who would draft the indemnity bond and undertaking for you or if the document is being prepared by the seller, then also appoint a lawyer to vet the documents for you and give you the fair opinion/advice.

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai

Thanks Rohit.

I have not yet registered the property and not taken possession. As of now only Agreement of Sale is done - nothing else.

if agreement for sale is not registered then you can enter into fresh agreement in which you can mention about the loss of documents, FIR, Advertisement and simultaneously you need to take indemnity cum undertaking bond from the seller.

Also you need to issue advertisement in the newspaper inviting objections against sale of flat, if any. 

Kindly ensure that the agreements are checked by your lawyer too so that your interest could be protected.

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai

Thank you.

Agreement for sale is NOT registered but I have already paid stamp duty on that agreement (e-Stamp 1% of Sale Value).

How about mentioning the loss of document, FIR, Ad etc in the Sale Deed when we register the flat and proceed with the same agreement?

I will take the indemnity bond and undertaking from the seller.

Dear Sir

I am a similar situation.

For how many years is 'Sale and Construction' agreement valid?

In my case, it was done in Feb 2004. And 1st owner did not register (no sale deed) and sold to 2nd owner in 2006. 2nd owner directly registered with builder in 2006.

Now I am planning to buy from 2nd owner

Regards

Animesh

Hi Animesh,

Have you opted for a Home Loan (if yes, which Bank)?

Rohit suggestions above make a perfect sense - where in Bangalore is your property located?

Ashok