LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

PRAVIN VENEKAR   22 August 2024

Correction deed

Hello everyone,i am planning to purchase resale office space in a commercial complex.I am going to be 4 th owner for same. This property is on 1 st floor . Property was sold in Auction from 1 st owner by Mortgaged bank to 2 nd person.Me & my lawyer saw error of not mentioning floor number in Index 2 as well as inside the document in 2 nd Sale deed agreement of bank & 2nd owner done in 2007.It is not mentioned in Index 2 of 2 nd & 3 rd owner but mentioned inside document done in 2011. Seller i stelling as per his advocate opinion correction deed has to be done in 1-3 yrs & not after this much long time,now proceed with correct entries in Index 2 & inside document in upcoming sale deed agreement.This commercial complex is situated on land given to the central Govt.Project affected villagers in Pune city.It was given by them to a builder for Developement. This building is have registered Commercial premises co operative society.Completion certificate is not obtained by builder. My lawyer is telling we need to do correction deeds as Floor Location of property is very imp.in every document.( Floor is correctly mentioned everywhere in agreement between 1 st purchaser & builder in 2003 though ).My business is already settled since last 10 yrs in the same bulding of 100 shops.The person from whom i am planning to purchase property had taken property with intention of Investment.Now how should i proceed as my lawyer is also telling expenses depends upon Sub registrar's DEMAND.Calling Bank officials of mortgaged bank & other parties for previous agreements,it is feasible ? 



Learning

 1 Replies

T. Kalaiselvan, Advocate (Advocate)     22 August 2024

A rectification deed by a registered document is essential to identify your property with the aprticulars mentioned in the rregistered document is essential, and there is no time limit to execute a rectification deed, hence you may approach your vendor to get the deed executed. 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register