Deepak Parmar (Accounts Manager) 10 July 2010

Commercial Property Purchase

Hi, We are purchasing a Commercial Property from a Vendor & same he has purchase from the Builder.

Qtn 1). I want to know what agreement should between the Vendor & us, Sale deed or Transfer deed. (Building is C.H.S)

As the Vendor has purchased the said property in feb 2006, should we have to search in the sub registrar regarding the Property Title Clearance , Litigation, Law Suit etc from Feb 2006 or of the last 30 Years,
As the Builder has already done the same as it is mentioned in the First Sale Agreement between the Vendor & the Builder, in which all the details are mentioned regarding the law suit & it is free from encumbrances

Qtn 2). Should we have to search for the property Title clearance for the Office which we are purchasing from Vendor's sale agreement 2006 or of last 30 years.

Kindly guide me.

Deepak Parmar

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2 Replies

Karl Jacob (Partner/Advocate) 10 July 2010

Greetings Mr.Deepak,

1. You have to enter into a sale deed.

2. Get title clearance for a period of 12 years immediately prior to your purchase.

3. Get title clearance from the concerned Sub-Registrar Office within whose registration jurisdiction the property is situated. It will be the one where you register your sale deed.

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Deepak Parmar (Accounts Manager) 11 July 2010

Dear Sir,

Our CA has given as Transfer Deed for the Purchase of Property.

And also suggests us to search the Property for last 30 years in Registrar Office, & in Court., But Sir Builder has already Search the Title in March 2000, also given every details of the total Area & the builder has sold the Property to vendor in Feb 2006,

So I am having one query should we have to do title search for last 30 years or from March 2000 or from date of Sale Agreement Between Builder & Vendor.

Regards

Deepak Parmar