I plan to sell a 20-year Old house of 2-storeys in Delhi. Can I sell each of the two existing floors to two separate parties, and in addition, simultaneously sell rights to build a basement to a third party? (The basement doesn't currently exist).
Krishna (NA) 17 September 2011
I plan to sell a 20-year Old house of 2-storeys in Delhi. Can I sell each of the two existing floors to two separate parties, and in addition, simultaneously sell rights to build a basement to a third party? (The basement doesn't currently exist).
adv. rajeev ( rajoo ) (practicing advocate) 18 September 2011
You can sell it to separate parties, but it is better to sell it only one person.
Krishna (NA) 18 September 2011
Dear Adv. Rajeev,
We were looking at this option only because the proposed single buyer has requested this new structure to the transaction. My basic worry is that if I sell existing floors to parties A & B, I would be violating their transaction by selling Rights to construct a Basement (obviously by demolishing existing floors/structure being sold to A &B) to Party C. Kindly advise if my understanding is correct. Thank you immensely.
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