Dear Sir,
We are currently looking to buy a property on resale from an investor who has not got the property registered. The Builder wishes to execute a cancellation agreement with the investor and execute the Sale Agreement and Sale deed with us.
The property is ready and complete under GPA and JDA b/w the land owners and Builder. The Land is owned jointly by two people. The said property falls under the Builders share as per the JDA.
We have recently been informed that one of the Land owner is now deceased. The issue we are facing is:
On the draft of sale agreement the name of the Owner(deceased) is still mentioned as the owners represented by the Builder as the authorised signatory under the GPA, as one party and Builder as the other party both termed as owners, in favour of us(Purchasers).
We would like to know, if mentioning the deceased persons name on the sale deed represented by a GPA holder (that is Builder) is legally acceptable. If not, what are the legal implications and a possible solution to execute the sale deed.
Regards.
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