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T.Guha   15 July 2023

Selling a joint ownership flat

I own a joint ownership flat with my brother which is mortgaged with bank. The mortgage  liability is presently nominal amount. I intend to sell my ownership to my brother. My brother  is stating that  first an offer letter is required to be given, thereafter  affidavit  as per the following is required to be furnished  by me: Pls advise whether signing this document by the seller would in  any way complicate matters in case of  property dispute at later stage.

________________________________________________________________________________________________________

                                                     Before the  learned  notary public

                                                          Affidavit

 

I____s/o__ by  faith Hindu by occupation ____ by nationality Indian aged about ___years residing at________________ do hereby solemnly affirm and state as follows:

That I am a joint owner of the  said flat________________________________ along with restricted commom arears and facilities appertaining to the dwelling unit mentioned earlier

 

That I am in  service of ___________________

That I have decided to sell of my full share of the mentioned flat to _____________ subject to receiving the purchase consideration amount of  _________________________

That an offer  letter of that intended sale of my full share in the above mentioned flat has already been issued by me to ________________

 

That decision of sale of the above mentioned flat has been taken by me in free will and belief under my specific own accord and volition and without any prejudice

 

That the statements made by me in this affidavit are true to my knowledge and  I am not suppressing any  facts and documents  regard its sale.

 

                                                                                                                      Deponent

                                                                                                                                        Identified by me

 



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 1 Replies

T. Kalaiselvan, Advocate (Advocate)     15 July 2023

This notarised agreement is not a proper document to sell the share of property to the buyer.

There should be a registered sale deed to be executed by you in respect of your share in the property in favor of your brother, however this may not be permitted during the pendency of home loan.

You may have to obtain NOC from the lender to release your share in the property by a registered sale deed in favor of the co-borrower.


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