Please help with your expert view on the following situation.
An MoU is produced by the developer/builder to be signed by the buyer just before the possession of the apartment. ALL dues paid in time including advance maintence charges etc. The MoU seems to have all clauses favorable for the developer / builder. The property is completely ready and many of the other buyers have already moved in.
My queries are,
1. How valid it would be in court of law when it is signed on a Rs 100 stamp paper, though not registered?
2. Is there any law that requires all terms and conditions to be covered in the Agreement for Sale, and not to be documented in such separate documents at a later date?
3. If there is a conflict on certain caluses, to be fair for both sides would it be sufficient to put notes related to ambiguous parts, right below the signatures?
4. Are there any citings that I can refer to get more informed? How regular is this practice? I live in Pune and I did not find anyone in my circle who has heard of such a practice earlier.
Many thanks in advance!
