LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Ravindra K. Banthia (None)     01 April 2010

Help needed in understanding a clause

I am looking for a flat to buy, in Jaipur.

There is a clause, in the previous registered deed of sale, that I am unable to understand. I have typed the clause verbatim.

25. That the Buyers may sell, assign, let, under let or part with his interests or benefits under these premises his rights in the demised premises to any person and subject to the terms of this Sale Seed, and subject to the lien of or charges payable to the Promoter, its nominee or the Society, Association or Body Corporate mentioned in clause 31 hereunder.

 

Can someone please help me understand  “and subject to the lien of or charges payable to the Promoter ...”

Is this a normal clause ?

Thank you.



Learning

 3 Replies


(Guest)

This clause is not a normal one found in any sale deed. The promoter will have no right to any charges, lien, etc., as soon as the project is finished and sells all the flats in the projects. Hence there will be no dues payable to him. However, your vendor (seller) may be in arrears of charges, etc., to the Society towards maintenance, etc., which you may obtain uptodate receipts for payments made by him. Also you may get clarification from the seller that he has no dues payable to the promoter and put the clarification clause in your new sale deed.

bhagwat patil (Property due diligence 9422773303)     02 April 2010

at the time of selling the property in future , the promoter may ask for money.it is not normal.

Ravindra K. Banthia (None)     02 April 2010

Thank you, Sir, Shri gurunarayana rao.

 

The Maintenance Charges are covered in another clause. That is why I was concerned by this clause.

From what I could understand, as soon as the first buyer had completed his obligations and registered the flat, no lien would then exist of the concerned flat.

As suggested by you, I shall get the No Dues from The Society, related to maintenance etc, and will get clarification from the seller that he has no dues payable to the promoter, and put the clarification clause in my new sale deed.

Just two more clarifications, Sir

1. If any part of the building remains unsold, does it have any bearing ?

2. Is it possible that there are liens on the promoter/building  related to supply /construction/ funding /loan. In that case how will a flat purchaser/owner get affected by the existence of the lien ?

 

And, thank you sir, Shri bhagwat patil

 

The promoter seems to have some earning in mind, related to the sale of this flat, but nothing is being openly declared, at the moment.

If there is a Transfer Fee he is looking for, would that not be liable on the seller ?

These clauses seems quite common in Jaipur.

One Developer/Promoter, had clearly declared in the Registration Document that in the event of sale of a purchased flat, the first right of purchase would be of the Promoter, and if subsequently the sale was made to another party, a payment of Rs 50 per sft, would have to be given by the seller to the Promoter (not verbatim).

 

 

Ravindra Kumar Banthia

(B. Tech. IIT Kgp)

Jaipur

 

 

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register