Purchase of property

Even if the investor is a good person(reliable person) u have to be carefull as money is involved.

well no agreement can be made by person  who is not an owner.

in your case " Right now the registration between  builder and Investor is not  tken place"
well investor is not the owner of the flat,nor he has any right over the property till date(as property is not in his name).how he can transfer that flat??? which doesnot belong to him.??


even if investor enter into agreement for trf of flat to u, it is not valid as he has no right to sale the flat and u cannot claim any right over the flat till the said flat is trf to investor .


"Investor appproched buider to tranfer his allotted flat to me , but builder is refusing the same."
if builder is refusing to trf the flat in ur name that why are u paying the amount on behalf of the investor (and  for the property which doesnot belong to invester as it  has not been registered in the name of  investor).

Dear sir thnx for reply. As u said investor don't have any right till flat is nt reg. But once reg is done between builder and investor and if investor wants to transfer flat to me what options I have. Also It may be possible that builder can have clause in sale deed that " investor can not sale the flat till possession or his consent". Is it possible to do any MOU type reg document bet investor and myself stating that once investor got possession of flat /or up on society formation he will do the registry . But how much this Mou will stands if dispute arises like to safe guard my money and he will not sell the flat to other person. Ur further advise will be very helpful.

" once reg is done between builder and investor and if investor wants to transfer flat to me what options I have"

 

enter into the agreement of sale with the investor.

 

"Also It may be possible that builder can have clause in sale deed that " investor can not sale the flat till possession or his consent".

this is negative clause .even though it is written it is not enforceable in court.and investor can freely trf the property.

 

 

just enter into  second sale agreement with the investor. once the first sale agreement of flat is register with the registrar in the name of investor.
even though construction is not complete, second sale agreement is valid and enforceable in law

donot give any money till each and every doc. are in order.

Hi,

I do agree with opinion above mentioned.

Wait for Agreement between Investor and Builder. Based on that, choose option of purchasing flat or not.

Once agreement between Builder and Investor takes place, u can go for further purchase by entering into Agreement to Sale.

As u said flat will take more 3 hours to complete...dont pay entire amount....pay step by step....and for securing ur interest atleast hold 50-40% money.....to be paid after taking possession of said flat.

In MOU also....dont give huge amount...just a reasonable amount to bound investor in agreement.

Regards,

Neha

Dear  2BHelpful and Neha, 

Appreciated ur advise much and Thnx for that. 

There are some more concerns like :

1. As Investor don't have money , Amout need to be paid to builder ( the due amt till Reg)   by me at time the investor   wants to  first do the agreement with builder 

2. Once Reg between builder and Invt done , our reg will takes place.

3. After that any demand from builder , needs to be  complied by me on behalf of investor.

4. In this case , though property will be on my name , but still in builders regsiter name wil be off investor, then how I can enter my name in builders record ?

( As builder  alreday refusing to transfer the flat ), is any legal procedure is there for that ?

 

 

donot you think the terms and condition of the investor is fishy

""As Investor don't have money""
then approach the bank why u .(bank will readly give Loan )

 

why he is asking u to pay first for the property to be registered in his name.????

 

if u r investing in property ur name must be there as the owner.

why r u investing in the property which will be registered in the name of other.what will happen if investor doesnot do his part of obligation ,in such case u have to approach the court which is time consumming and ur money will be block in the property which doesnot belong to u.

 

builder will never say no to trf it to other if the original buyer has no objection.in ur case investor is till date is not the owner of the flat.

 

 

can you tell me whether the builder has directy refuse u
or
its heresay((builder has not directy refuse u )) i.e investor told u that builder is saying no.